Welcome to our dedicated page for Vera Bradley news (Ticker: VRA), a resource for investors and traders seeking the latest updates and insights on Vera Bradley stock.
Vera Bradley, Inc. (Nasdaq: VRA) is a leading American designer of women's handbags, luggage and other travel items, fashion and home accessories, and unique gifts. Founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller, the company is renowned for its innovative designs, iconic patterns, and vibrant colors. Headquartered in Fort Wayne, Indiana, Vera Bradley offers a diverse range of products that inspire and connect women globally.
The company's operations are divided into three reportable segments: Vera Bradley Direct, Vera Bradley Indirect, and Pura Vida. The Vera Bradley Direct segment includes sales through Full-Line and Factory Outlet stores, e-commerce sites, and the iconic annual outlet sale in Fort Wayne. Vera Bradley Indirect focuses on sales to specialty retail locations, department stores, national accounts, and third-party e-commerce sites, along with licensing royalties. The Pura Vida segment, acquired in 2019, offers a unique and expanding range of bracelets, jewelry, and lifestyle accessories through its own websites and wholesale distribution.
The majority of Vera Bradley’s products are manufactured by third parties in Asia and distributed through its Indiana-based distribution center. The company primarily serves the U.S. market, with a solid wholesale business and substantial direct-to-consumer sales through both physical stores and online channels.
Vera Bradley is not only committed to business success but also to social consciousness and community involvement. The company is actively engaged in charitable initiatives, including the Vera Bradley Foundation for Breast Cancer, which raises funds for breast cancer research through various events and product sales.
Recent achievements include the launch of the Pixar | Vera Bradley Toy Story Collection and the strategic initiative known as Project Restoration, which aims to stabilize revenues and drive long-term profitable growth. Despite facing some sales challenges, Vera Bradley has managed to strengthen its balance sheet, reduce inventory levels, and improve gross margins. The company continues to focus on innovative product offerings and iconic collaborations to attract new customers while retaining its loyal fan base.
With a keen focus on delivering long-term value to shareholders, Vera Bradley remains dedicated to enhancing brand value, optimizing product mix, and expanding its market presence. The company's strong balance sheet, strategic initiatives, and commitment to quality position it well for future growth and success.
Vera Bradley, Inc. (Nasdaq: VRA) will report its third-quarter financial results for the period ending October 30, 2021, at 8:00 a.m. ET on December 8, 2021. A conference call will follow at 9:30 a.m. ET to discuss these results. Interested parties can join via a live webcast on the company’s website or by dialing (800) 289-0571. A replay will be available until December 22, 2021.
Vera Bradley (NASDAQ: VRA) has partnered with Baddle Pickleball to launch a new line of designer pickleball paddles and covers featuring vibrant Vera Bradley prints. The collaboration includes two styles, 'Hope Blooms Pink' and 'Java Navy Camo,' which are tournament-approved and sold at a retail price of $150 for paddles and $30 for covers. This initiative is seen as a strategic entry into the growing pickleball market, which saw 4.2 million players in the U.S. by 2020. The products are available on the Baddle and Vera Bradley websites.
Vera Bradley, Inc. (Nasdaq: VRA) has announced its participation in the CL King Virtual Best Ideas Conference on September 14, 2021. The presentation is set for 12:30 p.m. ET, and interested parties can access the audio webcast through a direct link. A replay will also be available on the company's Investor Relations website. Vera Bradley operates two lifestyle brands, Vera Bradley and Pura Vida, catering to multi-generational female customers with an emphasis on community and social consciousness.
Vera Bradley, Inc. (VRA) reported Q2 consolidated net revenues of $147.0 million, marking an 11.6% increase from the prior year. Net income reached $9.1 million, or $0.26 per diluted share. Non-GAAP net income was $9.5 million, or $0.28 per diluted share. The company maintains a strong balance sheet with over $76 million in cash and no debt. Management updated guidance for FY 2022, anticipating ongoing challenges in supply chain and advertising due to recent changes in Apple iOS, yet remains optimistic about the growth potential of its brands.
The Vera Bradley Foundation for Breast Cancer has updated its schedule for the annual fundraising event, the Vera Bradley Foundation for Breast Cancer Classic, set for September 17-20, 2021, in Fort Wayne, Indiana, due to COVID-19 concerns. Key modifications include the continuation of pickleball and golf tournaments with safety measures, but the Celebration Dinner has been canceled. The Silent Auction will now be held online. The Foundation emphasizes safety while still aiming to raise funds for breast cancer research, having contributed $36 million to date.
Vera Bradley, Inc. (Nasdaq: VRA) will report its second-quarter financial results for the period ending July 31, 2021, on September 1, 2021, at 8:00 a.m. Eastern Time. A conference call to discuss these results will follow at 9:30 a.m. Eastern Time, accessible via a live webcast on the company's Investor Relations website or by dialing (800) 289-0571 with access code 6656630. The replay will be available until September 15, 2021. Vera Bradley operates two brands, Vera Bradley and Pura Vida, focusing on lifestyle products designed for an emotionally connected female audience.
Vera Bradley (NASDAQ: VRA) announced a $100,000 donation to Blessings in a Backpack, enhancing its three-year partnership to combat childhood hunger. With 18 million children affected by food insecurity, this initiative is timely as schools reopen. Vera Bradley, known for its colorful and functional back-to-school essentials, continues to support community efforts through its VB Cares initiative, aiming to empower women and children. To date, the company has contributed over $750,000 to the nonprofit. Customers can shop for sustainable and stylish school items at VeraBradley.com.
Vera Bradley has launched The Disney Collection by Vera Bradley, now available in all Full Line Stores, select Factory locations, and online. This collection features the beloved Disney characters—Mickey, Minnie, Donald, Daisy, Goofy, and Pluto—adorned in vibrant designs. The debut follows a successful collaboration with Disney since 2013, enhancing brand visibility and relevance. The collection boasts 49 styles priced between $12 and $150, aiming to capture both Vera Bradley fans and Disney enthusiasts.
Vera Bradley, Inc. reported a 57.5% increase in consolidated net revenues, totaling $109.1 million for Q1 2021, up from $69.3 million in the prior year.
The company narrowed its net loss to $2.1 million, or $0.06 per diluted share; the non-GAAP net loss was $1.7 million, or $0.05 per diluted share.
The balance sheet remains strong, with over $50 million in cash and no debt. Management has increased annual guidance for the fiscal year ending January 29, 2022.
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