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The Journal Gazette

Wednesday, December 06, 2017 3:53 pm

Vera Bradley Inc. reports profit for third quarter

SHERRY SLATER | The Journal Gazette

Vera Bradley Inc. today reported 1 cent of profit for each basic share of its stock for the fiscal third quarter.

The retailer also reported net revenue of $114 million for the three months ended Oct. 28. That's a 10 percent decline from sales of almost $127 million for the same period of 2016.

Vera Bradley's reported net income plummeted by more than $8.4 million to $359,000 for the third quarter from $8.78 million for last year's third quarter.

Among the special charges for the most recent period were $3.7 million in store impairment, $1.8 million in severance and $1.5 million in strategic plan consulting fees. Amounts reflect after-tax totals.

The Fort Wayne company designs, makes and sells women's handbags, luggage, accessories and home decor items.

For more on this story, see Thursday's print edition of The Journal Gazette or go to www.journalgazette.net after 2 a.m. Thursday.

sslater@jg.net