Vera Bradley Shares Set To Open At Record Low Following Down Q4 Results, Soft Outlook

Shares of Vera Bradley Inc. plummeted more than 14% in premarket trade on Wednesday after the clothing retailer reported fiscal fourth-quarter revenue that was below Wall Street expectations and shrinking same-store sales. Net income for the quarter was $3.5 million, or 9 cents per share, compared with $15.7 million, or 41 cents during the same quarter a year ago. Adjusted earnings per share were 28 cents, above FactSet's consensus of 23 cents. Revenue hit $134.8 million in the quarter, down from last year's $154.1 million and below FactSet's $137.0 million. Vera Bradley's same-store sales fell 9.5% during the fourth quarter, while FactSet had forecast for a 5.1% decline. Vera Bradley sees revenue for 2018 coming in between $460.0 million to $480.0 million, below last year and below FactSet's $503.1 million consensus. Vera Bradley's stock is on track to open at a record low and shares have declined nearly 47% in the trailing 12-month period, while the S&P 500 index is up more than 19%.

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