Vera Bradley Shares Jump On Q2 Profit - Quick Facts

(RTTNews) - Vera Bradley, Inc. (VRA) reported, on a non-GAAP basis, second quarter net income per share of $0.32. This included $0.07 of earnings per share attributable to Pura Vida. For the prior year second quarter, on a non-GAAP basis, earnings was $0.25 per share which included approximately $0.01 of earnings per share contributed by Pura Vida.

On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.07, for the quarter. Analysts' estimates typically exclude special items.

Second quarter consolidated net revenues were $131.8 million, which included $32.8 million of net revenues from Pura Vida, an increase of 10.0% over $119.8 million, prior year, which included $5.4 million of net revenues from Pura Vida. Excluding Pura Vida, net revenues were $99.0 million, a 13.5% decrease from last year. Analysts expected revenue of $100.48 million, for the quarter.

"Total company year-over-year second quarter revenues grew 10%, driven by the addition of Pura Vida for a full quarter and Vera Bradley e-commerce sales doubling, partially offset by a decrease in Vera Bradley store revenues due to COVID-19-related closures for a portion of the quarter. At both Vera Bradley and Pura Vida, customers responded to new product launches and marketing initiatives, and cotton masks also drove meaningful revenue growth," CEO Rob Wallstrom said.

Shares of Vera Bradley were up nearly 20% in pre-market trade on Wednesday.