We are reiterating our Buy rating, $9 price target and projections for Vera Bradley with the company reporting 3QFY24 (October) results before the open on Wednesday. We believe management, under CEO Jacqueline
Ardrey, has continued to streamline and upgrade the shopping experience at Vera Bradley, allowing for easier purchasing and for consumers to better understand the overall utility and value of the Vera Bradley product, whether it is backpacks (and lunch boxes) for the key back-to-campus season in 3Q or Holiday related items for 4Q. Further, we believe key collaborations (Disney, Pixar, Peanuts, Winnie the Pooh) have continued to drive full price selling. As such, and with management also aggressively managing overall costs and benefiting (in terms of price and logistics) from a more normalized supply chain, we believe Vera Bradley is well positioned to take the next steps in the company's ongoing turnaround. As such, we reiterate our Buy rating and $9 price target for VR
04 Dec 2023
VRA: 3Q Preview: Showing How to Manage in Tight Times; Reiterate Buy, $9 PT
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VRA: 3Q Preview: Showing How to Manage in Tight Times; Reiterate Buy, $9 PT
- Published:
04 Dec 2023 -
Author:
Eric Beder -
Pages:
5
We are reiterating our Buy rating, $9 price target and projections for Vera Bradley with the company reporting 3QFY24 (October) results before the open on Wednesday. We believe management, under CEO Jacqueline
Ardrey, has continued to streamline and upgrade the shopping experience at Vera Bradley, allowing for easier purchasing and for consumers to better understand the overall utility and value of the Vera Bradley product, whether it is backpacks (and lunch boxes) for the key back-to-campus season in 3Q or Holiday related items for 4Q. Further, we believe key collaborations (Disney, Pixar, Peanuts, Winnie the Pooh) have continued to drive full price selling. As such, and with management also aggressively managing overall costs and benefiting (in terms of price and logistics) from a more normalized supply chain, we believe Vera Bradley is well positioned to take the next steps in the company's ongoing turnaround. As such, we reiterate our Buy rating and $9 price target for VR