Bracers of Armor and the Dwarven Fury

Would the magic item “Bracers of armor” stack with the AC bonus from “Flesh Runes”? I have a player who is seriously pursuing the item with the expectation that it does. The rules as written are vague enough to not give a clear yes/no on it, or are the “Flesh Runes” treated as armor in and of themselves?

Yes, Bracers of Armor do stack with the AC bonus from Flesh Runes.