EmailVera Bradley (VRA $20.32 -1.55) reported first quarter earnings of $0.31 per share, $0.02 better than the Capital IQ Consensus of $0.29, while revenues rose 15.6% year/year to $117.2 million versus the $116.55 mln consensus. The comapny issued downside EPS guidance for the second quarter with EPS of $0.34-0.36 versus the $0.38 consensus and issued in line revenue guidance for the second quarter of $121-123 million versus the $122.81 million consensus The comnpany reaffirmed EPS guidance for FY13, sees EPS of $1.68-1.71 versus the $1.70 consensus, slightly lowered FY13 revs to $535-540 million from $540-545 million versus the $544.73 mln Capital IQ Consensus Estimate.
"During our first quarter of fiscal 2013, we continued to expand the reach of our brand and, as a result, achieved double digit net revenue growth for the seventh straight quarter since becoming a public company...We made great strides in further strengthening our balance sheet through disciplined inventory management and significant debt reduction. The strength of our brand, and our ongoing success, is a tribute to our talented team, dedicated retail partners and loyal customers. We continue to focus on executing our growth strategies and remain very optimistic about the long term prospects for Vera Bradley."
