09:07 AM EDT, 06/12/2024 (MT Newswires) -- Vera Bradley ( VRA ) reported a fiscal Q1 non-GAAP net loss Wednesday of $0.21 per diluted share, compared with a loss of $0.09 a year earlier.

Analysts polled by Capital IQ expected the company to break-even on a non-GAAP basis.

Net revenue for the quarter ended May 4 was $80.6 million, down from $94.4 million a year earlier.

Analysts surveyed by Capital IQ expected $90.4 million.

The company said it expects fiscal 2025 earnings of $0.54 to $0.62 per diluted share. Analysts surveyed by Capital IQ expect $0.55.

Net revenue for the year is expected to range between $460 million and $480 million, the company said. Analysts polled by Capital IQ expect $474.4 million.

Vera Bradley ( VRA ) shares were down more than 7% in Wednesday premarket activity.

Price: 6.72, Change: -1.03, Percent Change: -13.29