RTTNews | Sep 1, 2021 08:31AM EDT

08:31 Wednesday, September 1, 2021 (RTTNews.com) - While reporting financial results for the second quarter on Wednesday, Vera Bradley, Inc. (VRA) trimmed its earnings and revenue guidance for the full-year 2022, based on the second quarter performance and certain industry and economic headwinds.

The company said the retail environment continues to be uncertain, and future financial performance is difficult to predict.

For fiscal 2022, the company now projects consolidated earnings in a range of $0.80 to $0.95 per share on consolidated net revenues between $550 million and $565 million.

Previously, the company expected consolidated earnings in a range of $0.85 to $1.00 per share on consolidated net revenues between $555 million and $575 million.

On average, five analysts polled by Thomson Reuters expect the company to report earnings of $0.95 per share on revenues of $570.32 million for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income attributable to Vera Bradley of $9.05 million or $0.26 per share, up from $7.22 million or $0.42 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.28 per share, compared to $0.32 per share in the year-ago quarter.

Net revenues for the quarter grew 11.6 percent to $147.05 million from $131.77 million in the same quarter last year.

The Street was looking for earnings of $0.33 per share on revenues of $153.61 million for the quarter.

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