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Vera Bradley offers gloomy view as sales dip 12%

Vera Bradley Inc. gave a soft forecast for revenue and profit this year as the handbag retailer Wednesday reported a 12% drop in revenue for the latest quarter.

Chief Executive Robert Wallstrom noted that revenue was less than the company expected. "The retail environment became even more challenging in the fourth quarter," he said in prepared remarks.

Shares, which have shed nearly half their value in the past 12 months, lost another 8.8% in light premarket trading...