Vera Bradley Inc VRA:NASDAQ

Last Price$4.56Cboe Real-Time Last Sale as of 2:33PM ET 8/15/22
Cboe Real-Time Quotes
Realtime quote and/or trade prices are not sourced from all markets
Today's Change-0.05(1.08%)
Bid (Size)$4.56 (100)
Ask (Size)$4.57 (111)
Day Low / High$4.49 - 4.62
Volume112.5 K

Sector Update: Consumer Stocks Retreating Ahead of Mid-Week Close

3:53PM ET 6/08/2022 MT Newswires
Consumer stocks were ending moderately lower in Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) dropping 0.8% although the SPDR Consumer Discretionary Select Sector ETF (XLY) was slipping just 0.3%.

In company news, Vera Bradley (VRA) dropped 7.7% after reporting a wider Q1 net loss and a nearly 10% drop in sales from year-ago levels and the fashion and home accessories company also slashing its FY23 earnings forecast. The company is now projecting FY23 net income in a range of $0.35 to $0.50 per share, down from its prior guidance expecting between $0.57 to $0.67 per share and trailing the two-analyst mean looking for a $0.60 per share profit this year.

Scotts Miracle-Gro (SMG) fell 9% after the lawn and garden retailer cut its FY22 earnings and sales forecasts, with the company now projecting non-GAAP net income in a range of $4.50 to $5.00 per share compared with the Capital IQ consensus looking for a $6.73 per share adjusted profit for the 12 months ending Sept 30. It also sees US consumer sales dropping 4% to 6% from year-ago levels, down from its Feb. 1 guidance expecting between 2% growth to a 2% decline. Sales for its Hawthorne nutrients division are seen falling 40% to 45% this year, it said.

Dutch Bros (BROS) fell 3.6% following a JPMorgan downgrade of the coffee shop chain to neutral from overweight previously.

Grab Holdings (GRAB) rose over 14% after the mobile e-commerce platform firm Wednesday announced the launch of its new GrabMaps mapping and location-based services application. GrabMaps currently provides hyper-local intelligence and services throughout all of the company's verticals in seven of the eight countries it operates and is expected to be fully self-sufficient later this summer.