Vera Bradley beats fourth-quarter revenue expectations
Vera Bradley Inc.'s stock was indicated higher in premarket trade Wednesday, after the handbag and accessories maker beat fourth-quarter revenue expectations. The company reported net income of $15.7 million, or 41 cents per share, down from $17.3 million, or 43 cents per share, in the year-earlier period. The FactSet consensus was for earnings per share of 41 cents. The company reported revenue of $154.1 million, up from $152.6 million, and above the FactSet consensus of $152.6 million. The fiscal year 2016 marked the second year of a brand turnaround plan and next year, Robert Wallstrom, chief executive officer, said the company believes it can return the company to "solid growth." "Our top priority continues to be to make Vera Bradley more relevant in order to attract even more new customers to the brand," Wallstrom said.
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