Tag: Manufacturers

Vera Bradley (VRA) – Results Top Estimates; Environment Remains Challenging

Posted on by cpereira@noblefcm.com


Thursday, December 08, 2022

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3QFY23 Results. Net revenues totaled $124 million compared to $134.7 million in the prior year third quarter ended October 30, 2021. Vera Bradley reported consolidated net income of $5.17 million, or EPS of $0.17 per share versus net income of $5.78 million, or EPS of $0.17 per diluted share, last year. Non-GAAP net income was $6.3 million, or $0.20 per diluted share, compared to $6.2 million, or $0.18 per diluted share in 3Q22.

Bifurcation Continues. The fiscal third quarter was a replay of the second fiscal quarter in many ways, in our view. Vera Bradley continued to see a bifurcation of its customer base, with higher household incomes continuing to spend, while inflationary pressures continued to negatively affect the purchases of customers with lower household incomes.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

ACCO Brands (ACCO) – Tough Operating Environment Impacting Results

Posted on by cpereira@noblefcm.com


Thursday, October 20, 2022

ACCO Brands Corporation is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include AT-A-GLANCE®, Esselte®, Five Star®, GBC®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Third Quarter Update. ACCO Brands announced late last week an operating update for the Company’s third quarter, reflecting a more challenging than anticipated operating environment. Europe is being impacted by energy costs and inflation, while a more cautious approach to inventory replenishment is impacting North America. These are more than offsetting a solid back-to-school season and positive return to office trends in North America and double digit sales and profit growth in the International segment.

Changing Figures. Management updated 3Q22 net sales guidance to $480-$490 million, comparable sales growth of (3%)-(2%), and adjusted EPS of $0.23-$0.25. For the year, the Company reduced the outlook with revenue now at $1.94-$1.98 billion, from $2.015-$2.055 billion, comparable sales growth at 0.0%-2.0%, from 4.0%-6.0%, adjusted EPS at $1.05-$1.10, from $1.39-$1.44, and free cash flow of $90-$100 million, from $135-$150 million.


Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.