Shares of Vera Bradley Inc. (NASDAQ: VRA) slumped on Thursday after the handbag and travel leisure accessories maker provided downbeat outlook on the current quarter and full-year, late last evening. However, fiscal fourth-quarter results exceeded Street’s estimates. For the quarter ended February 2, The Fort Wayne-based Company reported a profit of $25.1 million, or 62 cents a share, up from $20.1 million, or 50 cents a share, in the same period of last fiscal.
Revenue in the recently concluded quarter leaped 21% to $162.6 million. Analysts’ consensus forecast was for earnings of 57 cents on revenue of $153 million. The Company’s results were mainly in-line with its own previous guidance. Earlier, Vera Bradley forecasted earnings in the range of 56 cents to 58 cents a share on revenue of $149 million to $154 million.
Shares of Lifetime Brands Inc. (NASDAQ: LCUT) rallied after the kitchenware maker reported solid revenue growth and more than twofold jump in quarterly earnings. The Company said that revenue was boosted due to acquisition of Fred & Friends. The Company also hiked quarterly dividend by 25%. For the fiscal fourth quarter, Lifetime Brands. posted a profit of $15.2 million, or $1.19 per share up from a profit of $5.4 million, or 43 cents per share, in the corresponding period of last year. Revenue jumped 13 percent, to $154.8 million from $137.6 million, in the year-earlier quarter.
Shares of E Trade Financial Corporation (NASDAQ: ETFC) plunged , logging steepest losses among S&P 500 components after the online broker said that its largest investor, hedge fund firm Citadel, is offloading its entire stake in the company.
Shares of EBay Inc. (NASDAQ: EBAY) gained after analysts at Evercore boosted their ratings on the online marketplace operator’s stock to “overweight,” from “equal weight”, citing recent concerns about a new MasterCard MA fee are exaggerated.
Shares of Men’s Wearhouse Inc. (NYSE: MW) skyrocketed. Although the men’s suit maker’s fiscal fourth quarter earnings and revenue missed street’s consensus estimates, investors welcomed its decision to hire Jefferies & Co to assist assessing strategic alternatives for K&G clothing chain. The Company intends to focus on Moores and namesake brand. The company also announced that its board of directors has approved expanding its ongoing share repurchase program to $200 million from $45 million. For the fiscal fourth quarter ended Feb 2, the Houston Texas based company posted a net loss of $3.4 million or 7 cents a share down from net loss of $3.8 million or 7 cents as share, in the year earlier quarter. Sales soared 8.2% to $608.43 million from $562.17 million. Analysts polled by Thomson Reuters were expecting a loss of 5 cents a share on revenue of $610 million.
Shares of Amazon.com Inc. (NASDAQ: AMZN) edged down after analysts at J.P. Morgan Chase downgraded the stock to neutral from overweight , saying that its study on the company’s key business lines shows slow down in gross profits in 2013. J.P. Morgan also slashed its price target on the stock to $300 from $333.
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