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June 5, 2014
13:17 EDTSHOO, M, KATE, VRA, KORS, COHVera Bradley sinks after weak Q1 revenue reflects 'difficult' enviornment
Shares of women's accessory company Vera Bradley (VRA) declined after reporting weak first quarter revenue which reflected a harsh environment over the quarter. WHAT'S NEW: Vera Bradley's Q1 EPS was 16c, which was higher than analyst's consensus of 13c. The company's Q1 revenue as $113.5M, which was below expectations. The accessory company said despite a higher than anticipated Q1 EPS result, it continues to face a difficult environment, one that is proving much more challenging than it foresaw two short months ago. Vera Bradley cited the sales miss to guidance primarily being due to lower than expected orders from the company's Indirect specialty retail partners, weaker than expected comparable store sales performance in the company's retail stores, and a shortfall at the company's annual outlet sale. Vera Bradley expects Q2 EPS to be 18c-20c which is lower than the consensus analyst forecast of 30c. The company foresees Q2 revenue to be $113M-$120M which is lower than the $127.48M that analyst predict. Vera Bradley anticipates FY15 EPS from continuing operations to be in the range of $1.00-$1.10 while analyst consensus guide higher to $1.26. The company expects FY14 revenue to range between $510M-$530M which is lower than expectations of $553.69M. The accessory company announced today that it's products will be sold at select Macy's (M) locations by mid-July. WHAT'S NOTABLE: During the company's Q1 earnings conference call, Vera Bradley said that the short term will remain challenging and it will take time for marketing plans to take hold. The company expects to incur pre-tax charges related to the exit from Japan during Q3 of approximately $2M, or 3c per share. FY15 direct segment comps are expected to be down in the mid single digits and the company says its still identifying cost reductions. Vera Bradley expects to cut costs in manufacturing and sourcing but aims to open seven outlets this year. OTHERS TO WATCH: Competitors in the accessory industry include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Steven Madden (SHOO). PRICE ACTION: During afternoon trading, shares of Vera Bradley fell 98c, or 3.88%, to $24.27.
News For VRA;M;COH;KATE;SHOO;KORS From The Last 14 Days
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December 16, 2014
10:26 EDTKORSMichael Kors management to meet with Jefferies
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10:12 EDTKATEKate Spade initiated with an Outperform at Cowen
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10:11 EDTKORSMichael Kors initiated with a Market Perform at Cowen
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December 15, 2014
11:12 EDTKORSMichael Kors management to meet with Jefferies
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December 12, 2014
14:25 EDTCOHCoach moves higher, levels to watch
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05:54 EDTCOHStocks with implied volatility movement; COH CX
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December 11, 2014
14:27 EDTCOHLVMH not likely interested in Coach, says Evercore ISI
Evercore ISI said LVMH (LVMUY) is not likely interested in acquiring Coach (COH). The firm said LVMH has put a lot of marketing and investment behind the Marc Jacobs label and is unlikely to acquire another aspirational brand at this point.
10:33 EDTCOHCoach calls active after website says LVMH showing interest
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10:13 EDTVRAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARIAD (ARIA) downgraded at Credit Suisse... AbbVie (ABBV) downgraded to Equal Weight from Overweight at Morgan Stanley... Aimco (AIV) downgraded to Hold from Buy at KeyBanc... Anglo American (AAUKY) downgraded to Underperform from Neutral at Exane BNP Paribas... Approach Resources (AREX) downgraded at Sterne Agee... CommVault (CVLT) downgraded to Neutral from Outperform at Macquarie... Fifth Street Senior (FSFR) downgraded to Perform from Outperform at Oppenheimer... Harmonic (HLIT) downgraded to Neutral from Buy at Sidoti... Macerich (MAC) downgraded to Hold from Buy at Deutsche Bank... Newell Rubbermaid (NWL) downgraded to Outperform from Strong Buy at Raymond James... Olin Corp. (OLN) downgraded at Longbow... Penn West (PWE) downgraded to Underperform from Neutral at BofA/Merrill... Prudential plc (PUK) downgraded to Neutral from Buy at Nomura... Semiconductor Manufacturing (SMI) downgraded to Hold from Buy at Jefferies... Suncor (SU) downgraded to Neutral from Buy at BofA/Merrill... Talisman Energy (TLM) downgraded to Underperform from Neutral at BofA/Merrill... Thompson Creek (TC) downgraded to Hold from Buy at Deutsche Bank... Toll Brothers (TOL) downgraded to Underperform from Sector Perform at RBC Capital... Travelers (TRV) downgraded to Neutral from Buy at UBS... United Therapeutics (UTHR) downgraded at Credit Suisse... Vera Bradley (VRA) downgraded to Underperform from Neutral at Sterne Agee.
10:13 EDTCOHCoach spikes after website says LVMH showing interest
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09:53 EDTCOHLVMH has shown interest in Coach, Prime Retailer reports
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09:49 EDTCOHLVMH has shown interest in Coach, PrimeRetailer says
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08:43 EDTVRAVera Bradley downgraded at Sterne Agee
As noted earlier, Sterne Agee downgraded Vera Bradley to Underperform from Neutral. The firm downgraded the stock based on the reduction in the company's guidance, execution risk, and its belief that the company's turnaround initiatives will pressure margins in 2015. Target $18.
07:13 EDTVRAVera Bradley downgraded to Underperform from Neutral at Sterne Agee
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December 10, 2014
10:00 EDTSHOOOn The Fly: Analyst Downgrade Summary
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09:52 EDTVRAVera Bradley sees Q4 gross margin 53.5%-54.5%
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08:07 EDTVRAVera Bradley sees FY15 EPS $1.00-$1.05, consensus $1.04
Sees FY15 revenue $514M-$520M, consensus $527.17M.
08:06 EDTVRAVera Bradley sees Q4 EPS 43c-47c, consensus 50c
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08:05 EDTVRAVera Bradley reports Q3 EPS 21c, consensus 19c
Reports Q3 revenue $125.2M, consensus $127.52M. Reports Q3 SSS, including e-commerce, up 0.9%. In the company's stores, Q3 year-over-year net revenues grew 10.4%, reflecting the opening of 11 full-line and 12 factory outlet stores during the past 12 months. As expected, Q3 SSS were negatively impacted by year-over-year declines in store traffic.
06:09 EDTSHOOSteven Madden downgraded to Neutral from Buy at Goldman
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