Katie O'Brien
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Katie O'Brien in Senior Content Editor,

Very Bradley Sees Dim Fourth Quarter Earnings

Accessory company Vera Bradley (NASDAQ: VRA) released its fourth quarter earnings, according to Dakota Financial News, announcing a $0.43 earning per share with total revenue hitting $152.40 million.

At the end of last month, Vera Bradley shareholder Michael C. Ray banked more than $500,000 by selling 24,440 shares, Dakota Financial News reported. Ray sold the shares for approximately $20.03 each.

“By this time, we had expected to regain momentum in the business, but that has not happened,” Chief Executive Robert Wallstrom said in a news release, according to the Wall Street Journal. “Our core customers are continuing to buy our products. However, our primary issue is that we have not attracted enough new customers to the brand, and therefore, both traffic and sales remain extremely challenging.”