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 (Nasdaq: VRA) and Classic Accessories have launched a limited-edition co-branded outdoor living collection. This collaboration merges Vera Bradley's signature vibrant patterns with Classic Accessories' quality designs. The collection features furniture covers, cushions, pillows, umbrellas, and outdoor rugs, allowing customers to enhance their outdoor spaces with stylish options. Available online at verabradley.com and classicaccessories.com, as well as through major retailers like Wayfair and Amazon, this line aims to combine practicality with aesthetic appeal.
Vera Bradley, Inc. (NASDAQ: VRA) has launched a limited-edition "Love Stripe" collection to celebrate Pride Month, featuring products made from recycled cotton. The collection includes a backpack, crossbody, throw blanket, and PopGrip, priced between $14.99 and $65. Additionally, the company donated $20,000 to Free Mom Hugs, a non-profit supporting the LGBTQIA+ community. This initiative reflects Vera Bradley's commitment to inclusion and diversity, as expressed by Brand President Daren Hull.
Vera Bradley, Inc. (NASDAQ: VRA) has nominated Nancy Twine to its Board of Directors, increasing female representation to 60% in a move to enhance diversity. Twine, founder of Briogeo Hair Care, will replace retiring board member Michael Miller in June 2021. Her experience in retail and finance is expected to benefit Vera Bradley's growth strategy. The company is recognized for its commitment to gender diversity, being part of the elite 6% of Russell 3000 Index companies with gender-balanced boards. The addition of Twine aims to strengthen leadership and support the company's mission.
Vera Bradley announces the launch of its new Recycled Cotton collection in partnership with actress Lana Condor, introducing items made from 50% recycled cotton. This collection features core styles in new vibrant patterns and solid colors, including a limited-edition utility backpack designed by Condor. With a commitment to sustainability, Vera Bradley aims to transition all fabrics to more sustainable alternatives by 2025, expecting to reduce water impact by 43% and global warming impact by 13%. Prices range from $15 to $140.
Vera Bradley, Inc. (Nasdaq: VRA) announced it will report first quarter results for the period ending May 1, 2021, on June 9, 2021, at 8:00 a.m. ET. A conference call will follow at 9:30 a.m. ET to discuss these results, available via a live webcast on the company’s website. Vera Bradley, recognized for its stylish handbags and travel items, operates alongside its lifestyle brand, Pura Vida, focusing on community and social consciousness. Founded in 1982, the company seeks to connect with its multi-generational female customer base.
Vera Bradley, Inc. (Nasdaq: VRA) and Crocs, Inc. (Nasdaq: CROX) have launched a new limited-edition footwear collection, marking their third collaboration. The collection includes the Classic Clog and the new Kadee Sandal, featuring vibrant patterns inspired by paradise. This partnership continues the successful trend initiated in 2019, combining Vera Bradley's distinctive designs with Crocs' comfort. The collection is available online and at select retail locations, enhancing brand visibility and consumer engagement as spring approaches.
Vera Bradley, Inc. (NASDAQ: VRA) has launched two new limited-release Minnie Mouse-themed patterns, Minnie’s Garden Party and Minnie’s Garden Dots, inspired by Disney's Epcot International Flower & Garden Festival. The collection includes 20 items such as bags and travel accessories, exclusively available at Vera Bradley stores at Disney Springs and online. Vera Bradley aims to celebrate the nostalgic essence of Minnie Mouse, with designs reflecting her iconic style. This collaboration strengthens their brand appeal among fans of Disney and fashion.
Vera Bradley, Inc. reported a net income of $8.7 million, or $0.26 per diluted share for Fiscal 2021, with non-GAAP net income at $21.4 million, or $0.63 per diluted share. E-commerce sales nearly reached 50% of total revenues, increasing by almost 50% year-over-year. The company anticipates total revenue growth of 17% to 23% for the fiscal year ending January 29, 2022. Despite pandemic challenges, Vera Bradley's consolidated revenue for Fiscal 2021 decreased to $468.3 million from $495.2 million in the previous year, impacted by COVID-19 and store impairments.
Vera Bradley (NASDAQ: VRA) announced a new limited-edition handbag collection in collaboration with New Hope Girls on March 8, 2021, coinciding with International Women’s Day. The collection includes a zip pouch and hobo bag, with 75% of sales supporting New Hope Girls' mission to aid vulnerable women and girls in the Dominican Republic. This partnership marks the third consecutive year of collaboration, featuring designs created by local artisans. The collection is available at Vera Bradley stores and online.
Vera Bradley, Inc. (Nasdaq: VRA) announced it will report its fourth quarter and fiscal year results on March 10, 2021, at 8:00 a.m. ET. A conference call will follow at 9:30 a.m. ET, accessible via a live webcast on their Investor Relations site. Vera Bradley operates two lifestyle brands, Vera Bradley and Pura Vida, known for their strong customer connections and multi-channel distribution. The company aims to leverage its unique positioning to enhance long-term success for both brands.
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