Vera Bradley Inc. reported a jump in sales of its colourful bags and accessories in its first quarter, it helps to beat the expectations of the market and a rally in its stock after hours of onset Thursday.
The manufacturer of bag reported after the close of trading on Wall Street he gets $ 12.6 million, or 31 cents per share, for the quarter ended April 28. It is 11.2 million, or 28 cents per share, in the same quarter last year.
Vera Bradley, which sells its products through its own stores and through other retailers specialized, stated that its quarterly revenues jumped nearly 16% to $ 117.2 million.
The results beat the expectations of the market of 29 cents per share on revenue of $ 116.2 million, according to the data of the form.
Vera Bradley, like many of his peers, has faced higher costs of cotton and work during the period, but could that offset the stronger sales. He said that revenues from its own stores has increased by more than 34% to 59.2 million, stimulated by the addition of 19 stores. Online sales have increased by 26% and sales to other retailers rose 1% to $ 58 million.
The company said its revenues of stores open at least a year increased by 4.3% for the quarter. This is considered a key indicator of financial performance a retailer as it strips the impact of recently open or closed stores.
Michael Ray, CEO of Vera Bradley said that the company has been able to extend the reach of its brand and the company is very optimistic about its long-term prospects.
Vera Bradley said that it now expected to win 34 to 36 cents per share for the second quarter on revenues of 121 to 123 million. Analysts expect earnings of 38 cents per share on revenue of $ 121.4 million.
It based its forecasts for the year of income of $1.68 to $1.71 per share on revenue of $ 540 million of $ 535 million. Analysts expect the company to earn $1.71 per share on revenues of 549.7 million.
Vera Bradley, based in Fort Wayne, Ind., sells his bags online, with its more than 60 stores retail and the output, as well as through over 3 300 specialty retailers.
Shares in the company jumped $ 1.89, approximately 9%, to $23,76 in trade. Its stock fell 51 cents to close regular trade $21.87.
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