Vera Bradley announces profits | Business | The Journal Gazette journalgazette.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from journalgazette.net Daily Mail and Mail on Sunday newspapers.
Price action over last quarter: Up 51.72%
Company Overview
Vera Bradley Inc designs women s handbags, travel items, and accessories. Each category comprises a substantial component of total sales, with the bags category comprising the most. Most of the company s sales are made directly to customers through Vera Bradley s retail stores and e-commerce sites. The company also has a substantial wholesale business selling to specialty retail and department stores. Almost all company sales are in the United States. Vera Bradley uses third-party manufacturers in Asia to produce its product, and the company distributes the product through its distribution center in Indiana.
Mar 10, 2021
File photo courtesy of Pura Vida
SPONSOR
Pura Vida’s revenue fell 3.9% to $34.1 million in Q4 due to a decrease in wholesale sales and a strategic move to eliminate steep promotions online.
Vera Bradley Inc., the company that owns Pura Vida, estimates that the reduction in promotions eliminated about $6 million in revenue during the quarter. However, gross margins improved and e-commerce sales still increased.
For the full year, Pura Vida’s revenue totaled $112.5 million. E-commerce sales grew 15%.
Vera Bradley did not provide a revenue comparison to the prior year because the company did not own the brand for the full year.