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Vera Bradley stock jumps after profit, sales beat

Vera Bradley Inc. VRA, +0.95% said its earnings rose 48% in the latest quarter, as the handbag retailer posted better-than-expected sales and stronger margins, partly thanks to fewer markdowns.

Shares, down 29% this year, rose 17% to $13.73 in recent premarket trading as per-share earnings, excluding certain one-time items, also beat expectations and the company's outlook for the holiday quarter topped analysts' estimates.

The company's board also approved the repurchase of up to an additional $50 million of its shares over the next two years.

For the holiday quarter, the company forecast per-share earnings from continuing...