Vera Bradley reports Q4 EPS ($1.69) vs (6c) last year

Reports Q4 revenue $99.96 vs $133.265M last year. Jackie Ardrey, Chief Executive Officer commented, “The fourth quarter remained challenging as we continued to navigate the early stages of Project Restoration, our comprehensive strategic initiative to transform our business model and brand positioning. While we experienced sequential improvement, particularly in our Vera Bradley (VRA) direct channel which performed overall at expectations, we acknowledge that our transformation is taking longer than initially anticipated. The migration of business from stores, particularly in our outlet locations, to ecommerce represented an unexpected shift, creating near-term profitability headwinds that we are actively addressing with targeted strategies.”