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Fly News Breaks for October 5, 2016
COH, VRA
Oct 5, 2016 | 16:49 EDT
As previously reported, KeyBanc analyst Edward Yruma downgraded Vera Bradley (VRA) to Sector Weight from Overweight, as he sees risk to its earnings. Yruma thinks the brand's reboot has been successful, as reflected by the 20% year-over-year rise in shares, but with gross margins at their highest since 2010, sales need to increase to drive earnings, he tells investors. In the handbag space, Yruma prefers Coach (COH), on which he keeps an Overweight rating.
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