Vera Bradley earnings show inflation's unequal impact on consumer spending

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Higher-income customers who spend in the company’s full-price channel have been more “engaged,” while lower-income shoppers, are demonstrating signs of spending pressure that can also be seen in-store traffic, said Vera Bradley's outgoing CEO.

Vera Bradley Inc. Chief Executive Jackie Ardrey offered a frank assessment of the economic backdrop Wednesday morning after acknowledging pressures on less affluent spenders seen in the company’s latest earnings report.

— CEO Jackie Ardrey The comments from Ardrey, who took over as CEO in November, came in Vera Bradley’s VRA, +15.67% fiscal-third quarter press release, which also showed a drop in sales for the latest quarter as the inflationary landscape continues to impact the business. Vera Bradley reported $124.0 million in consolidated net revenue for the latest quarter, down from $134.7 million a year before, though above the FactSet consensus, which was $119.3 million.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Awe….my very favorite purse.

Pura Vida Bracelets is carrying that company

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines