ROANOKE, Indiana — Reveals of Vera Bradley cases skidded Wed after the handbag and accessories providers} reported disappointing first-quarter results, announcing it's having trouble attracting new clients.
The company posted a loss in their fiscal first quarter as it covered a manufacturing facility and took penalty charges related to job cuts, restructuring, as well as items. It said revenue would not live up to its expectations, falling ten percent compared to last year. The Roanoke, Indiana-based company lowered its expectations through out the fiscal year.
iPhone 6 cases Vera Bradley Inc. shares lost $1. 98, or 14 percent, to close from $12. 16 Wednesday. The investment is down 40 percent when it comes to 2015 and has lost 53 percentage of its value over the last year.
Period of time news release, CEO Robert Wallstrom had said Vera Bradley is committed to a long-term plans and is making improvement on them, but it isn't drawing a lot of new customers to its brand. Later on said sales and customer business are also a challenge.
The company said the house lost $4. 1 million, along with 10 cents per share, a muslim three months that ended on May charge cards It broke even on a per-share basis if one-time items are omitted. Its revenue fell 10 percent at $101. 1 million.
Analysts that is expected earnings of 2 cents per talk about on revenue of $105. 6 million, according to Zacks Investment Analysis.
The company is now forecasting an fit annual profit of 64 pennies to 74 cents per talk about on $480 million to $495 million in revenue. Vera Bradley's previous estimates called for earnings as to 82 cents to 92 pennies per share on revenue as to $510 million to $525 64,000.
Analysts surveyed by FactSet seasoned expected earnings of 83 pennies per share on revenue as to $512. 7 million.
Elements of this particular story were generated by Fx trading Insights (http://automatedinsights.com/ap) using data after Zacks Investment Research. Access any Zacks stock report on VRA at http://www.zacks.com/ap/VRA
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