Friday, March 15, 2024
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.
4QFY24. Revenue totaled $133.3 million, compared to $147.1 million in 4Q23, and below our estimate of $137 million. Gross margin improved to 52.3% from 40.8%. Reported net loss of $1.9 million, or $0.06/sh, compared to a net loss of $28.2 million, or $0.91/sh in 4Q22. Adjusted EPS was $0.11 versus a net loss of $0.03/sh last year. This year’s extra week added approximately $6 million to quarterly revenue and EPS by $0.01/sh. We had forecasted net income of $5 million, or $0.16/sh.
New Day. Project New Day launches in mid-July and is the first manifestation of the work under Project Restoration. New Day is a full pivot from where Vera Bradley is today. It includes, among other things, the reveal of a new and elevated full line branding and marketing, product store design, and website design.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
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.