Vera Bradley Stock Price, News & Analysis

Vera Bradley (Nasdaq: VRA) announces the planned retirement of President and CEO Robert Wallstrom by early 2023, initiating a search for his successor.

Wallstrom has served since 2013, leading significant business transformations and social initiatives. Concurrently, the company has implemented annual cost reduction initiatives aimed at saving $25 million, effective in fiscal year ending February 2024, following financial results announcements. The CEO search will consider both internal and external candidates as Vera Bradley aims for consistent growth during economic challenges.

The Vera Bradley Foundation for Breast Cancer has appointed Stephanie Scheele as its new Executive Director following a national search. Scheele, who has been with Vera Bradley since 2001, previously held the role of Chief Purpose and Communication Officer. Under her leadership, the Foundation aims to enhance funding for vital breast cancer research, having committed a total of $50 million to the Indiana University School of Medicine. The Foundation's efforts have significantly advanced breast cancer therapies, especially for challenging cases like triple-negative breast cancer.

Vera Bradley, Inc. reported Q1 financial results with consolidated net revenues of $98.5 million, down from $109.1 million year-over-year. The company experienced a net loss of $7.0 million, or $0.21 per diluted share. Non-GAAP net loss was $6.1 million, or $0.19 per diluted share. Direct segment revenues fell by 7.6%, while Indirect revenues increased by 11.2%. The company plans to reduce costs by $15-25 million and continues share repurchases. The CEO noted ongoing macroeconomic challenges impacting customer spending.

Tupperware and Vera Bradley have launched a limited-edition collection of reusable food and drinkware products, featuring vibrant, nature-inspired patterns. This collaboration offers three sets: the Daisy Smile Collection, Falling Daisies Collection, and Sunflower Collection, including items like the ECO+ Water Bottle and Snack Set. Available now for a limited time, these products reflect both brands' commitment to sustainability and quality. The collection is marketed as perfect for summer activities and aims to reduce waste while appealing to fans of both brands.

Vera Bradley has announced a collaboration with The Coleman Company to create a new line of fashionable outdoor gear. This limited-edition Vera Bradley + Coleman collection includes a variety of products designed for both function and style. Available now in select stores and online, the collection features exclusive patterns like Eden Paisley and Wildflowers Blue.

Vera Bradley, Inc. (VRA) announced plans to report its first-quarter financial results for the period ending April 30, 2022, on June 8, 2022, at 8:00 a.m. ET. Following the release, a conference call for investors will be held at 9:30 a.m. ET, available via webcast and telephone. The company operates two lifestyle brands, Vera Bradley and Pura Vida, targeting a multi-generational female audience with a focus on community and social consciousness. Vera Bradley is based in Fort Wayne, Indiana, and has been a prominent designer of women’s handbags and accessories since its founding in 1982.

Vera Bradley, Inc. (Nasdaq: VRA) has appointed Lockie Andrews as the new Chief Growth Officer for its Pura Vida brand. Andrews will spearhead digital marketing, sales, and merchandising strategies, aiming to drive growth and explore new sales channels. Previously at Party City, she boosted eCommerce conversion rates by 60%. CEO Rob Wallstrom expressed confidence in Andrews' innovative approach to enhance Pura Vida's brand potential. This expansion comes as Vera Bradley continues to cultivate its lifestyle brands, further solidifying its market position.