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Business

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Vera Bradley quarterly earnings up 12%

Vera Bradley Inc. today reported second fiscal quarter earnings of $14.95 million, or 37 cents per diluted share, a 12 percent increase from the $13.37 million, or 33 cents a share, posted for the same 13-week period in 2012.

The company also reported net revenues of $125.4 million for the period ended Aug. 3, a 2 percent increase from the prior year’s second fiscal quarter.

The Fort Wayne-based manufacturer designs and makes quilted cotton handbags, luggage, accessories and home décor items. Like many retailers, Vera Bradley follows a fiscal calendar that ends in late January.

CEO Michael Ray said results were in line with expectations for what was a difficult second quarter.

“Nonetheless, our product offering underperformed in the midst of an uncertain consumer environment, which affected traffic in our retail stores,” he said in a statement. While optimistic about the long term, “we continue to have a cautious outlook for the remainder of the year.”

Vera Bradley’s stock was up 48 cents to close today at $19.45 on the Nasdaq stock exchange. Company officials released earnings after markets closed.

sslater@jg.net

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