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Jan 29, 2022
Vera Bradley Q4 2022 Earnings Report
Vera Bradley's Q4 2022 results were announced, with consolidated net revenues increasing by 5.1% and net income totaling $5.2 million, or $0.15 per diluted share.
Key Takeaways
Vera Bradley, Inc. reported a 5.1% increase in consolidated net revenues for the fourth quarter, totaling $149.6 million. Net income for the quarter was $5.2 million, or $0.15 per diluted share, compared to $7.9 million, or $0.23 per diluted share, in the prior year. The balance sheet remains strong with cash and cash equivalents of $88.4 million and no debt.
Consolidated net revenues increased by 5.1% to $149.6 million.
Net income totaled $5.2 million, or $0.15 per diluted share.
Non-GAAP net income totaled $5.7 million, or $0.17 per diluted share.
The company ended the quarter with cash and cash equivalents of $88.4 million and no debt.
Vera Bradley
Vera Bradley
Vera Bradley Revenue by Segment
Revenue by Segment
VB Direct Revenue
CapyFin.comVB Indirect Revenue
CapyFin.com Forward Guidance
For fiscal year 2023, the company expects consolidated net revenues of $555 to $575 million and diluted EPS of $0.57 to $0.67.
Positive Outlook
- Consolidated net revenues of $555 to $575 million.
- Year-over-year Vera Bradley revenues are expected to grow in the low-to mid-single digit range.
- Pura Vida revenues are expected to be flat to up by low-single digits.
- Free cash flow of between $35 and $45 million.
- Consolidated gross profit percentage of 54.5% to 55.0%.
Challenges Ahead
- Consolidated SG&A expense of $273 to $281 million.
- Consolidated operating income of $29.5 to $35.5 million.
- Net capital spending of approximately $10 to $12 million.
- Continued freight and digital marketing increases.
- No GSP benefit is included in gross margin guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income