Vera Bradley reports $80.6 million in first quarter revenue, plans to revitalize brand and expand.

From GlobeNewswire: 2024-06-12 08:00:00

Vera Bradley, Inc. reported first quarter net revenues of $80.6 million, with a net loss of ($8.1) million. Despite challenges, the company reconfirms guidance for fiscal year ending February 1, 2025. Through Project Restoration, Vera Bradley plans to revitalize its brand with updated products, store designs, and marketing efforts targeted towards their key demographic of casual and feminine women aged 35 to 54. The company also plans to expand their full-line and outlet store footprint, improve the online shopping experience, and focus on diversifying marketing efforts to drive long-term growth and value for shareholders. Pura Vida, another brand under Vera Bradley, had a 37% year-over-year sales decline in the first quarter, but remains focused on reducing costs and expanding gross margins to achieve profitability.



Read more at GlobeNewswire:: Vera Bradley Announces First Quarter Fiscal Year 2025