Vera Bradley tumbled in premarket trading on Wednesday after the designer of women’s handbags provided downbeat revenue guidance for the current quarter and full year, while reporting lower-than-expected profit and revenue for its most recent quarter. Shares dropped more than 19%.
The company anticipates Q4 revenue in the range of $135 million to $140 million, and full-year revenue in the range of $486 million to $491 million. Analysts had predicted $158.3 million and $512.4 million respectively, according to Capital IQ data.
Excluding items, EPS decreased to $0.20 in the period ended Oct. 29, from $0.27 in the prior-year period. That lagged behind the $0.22 average estimate of analysts polled by Capital IQ.
Q3 revenue totaled $126.7 million, flat with $126.7 million recorded in the prior-year quarter. That missed the analyst consensus of $129.2 million.