You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Sony forecasts $2 billion loss, cites weak mobile
     TOKYO – Sony expects its annual loss to swell to more than $2 billion after writing down the value of its troubled mobile business as phone sales were battered by brutal competition.
  • Billionaire’s house arrest sends stocks crashing
      MOSCOW – The arrest of a Russian billionaire has sent shares in his holding company into a tailspin.
  • 2 firms to expand, add jobs
    A pair of companies will look to improve their operations with an investment of nearly $3 million combined, according to tax abatement ­requests filed last week with the city.
Advertisement

Vera Bradley quarterly earnings drop 29%

Vera Bradley Inc. today reported fiscal first-quarter earnings of $6.58 million, or 16 cents per diluted share, a 29 percent drop from the $9.19 million, or 23 cents a share, posted for the same 13-week period of 2013.

The Fort Wayne-based company designs, makes and sells quilted cotton handbags, luggage and accessories.

CEO Robert Wallstrom said first-quarter sales of $113.5 million – an 8 percent decline – were modestly below expectations, but earnings per share were higher than Vera Bradley executives had predicted because they were able to hold expenses down.

“However, we continue to face a difficult environment, one that is proving much more challenging than we anticipated just two short months ago,” he said in a statement.

For more on this story, see Friday’s print edition of The Journal Gazette or visit www.journalgazette.net after 3 a.m. Friday.

sslater@jg.net

Advertisement