Vera Bradley, Inc. (Nasdaq:VRA) today announced its financial results for the fourth quarter and fiscal year, representing the 14-week and 53-week periods ended February 2, 2013. The Company reported net revenues of $162.6 million for the fourth quarter, compared to $134.5 million in the fourth quarter of fiscal 2012, an increase of $28.0 million, or 21%.
Diluted earnings per share for the quarter were $0.62, an increase of 24% from diluted earnings per share in the fourth quarter of fiscal 2012. The 53rd week of fiscal 2013 contributed $4.9 million of net revenues and approximately $0.02 per diluted share to both the full year and fourth quarter of fiscal 2013.
“Fiscal 2013 represents another outstanding year for Vera Bradley, as reflected in our record-setting fourth quarter and full year results, particularly in the midst of a difficult consumer environment,” said Michael C. Ray, Very Bradley's Chief Executive Officer. “Despite current headwinds, I feel confident in our team's ability to deliver on our fiscal 2014 priorities. With our 30-year track record of success, we have a solid foundation and strategies in place to achieve our long-term growth objectives.”
– Fourth quarter net revenues increased 21% to $162.6 million; Direct net revenues increased 27% and Indirect net revenues increased 11%.
– Diluted EPS were $0.62 for the fourth quarter, compared to $0.50 for the same quarter of fiscal 2012, an increase of 24%.
– Full year net revenues increased 17% to $541.1 million; Direct net revenues increased 30% and Indirect net revenues increased 6%.
– Diluted EPS were $1.70 for fiscal 2013, compared to $1.43 for fiscal 2012, an increase of 19%.