Vera Bradley Announces Fourth Quarter Fiscal Year 2025 Results

Core Insights - Vera Bradley, Inc. reported consolidated net revenues of $372.0 million for Fiscal 2025, a decrease from $470.8 million in Fiscal 2024 [8][9] - The company experienced a consolidated net loss of $62.2 million, or $2.15 per diluted share, compared to a net income of $7.8 million, or $0.25 per diluted share in the prior fiscal year [9][10] - Management anticipates an increase in cash balance to approximately $40 million by the end of Fiscal 2026 [1] Financial Performance Summary - Fourth quarter consolidated net revenues were $100.0 million, down from $133.3 million in the same quarter of the previous year [5] - The fourth quarter consolidated net loss was ($47.0) million, or ($1.69) per diluted share, compared to a net loss of ($1.9) million, or ($0.06) per diluted share in the prior year [6][7] - For the fiscal year, consolidated gross profit totaled $186.8 million, or 50.2% of net revenues, down from $256.4 million, or 54.5% of net revenues in the prior year [21] Segment Performance - Vera Bradley Direct segment revenues for the fiscal year were $257.6 million, a 16.9% decrease from $309.9 million in the prior year [22] - Vera Bradley Indirect segment revenues totaled $61.2 million, a 17.1% decrease from $73.8 million in the prior year [19] - Pura Vida segment revenues decreased by 38.9% to $53.2 million from $87.1 million in the prior year [20] Cost Management and Strategic Initiatives - The company is on track to deliver a minimum of $20 million in cost savings in 2025 as part of its efficiency initiative [3] - Management has signed an agreement to sell all ownership interests in the Pura Vida business to focus on Vera Bradley's long-term transformation [3] - Consolidated SG&A expenses for the fiscal year totaled $223.8 million, or 60.2% of net revenues, compared to $241.5 million, or 51.3% of net revenues in the prior year [23] Balance Sheet and Cash Flow - As of February 1, 2025, cash and cash equivalents totaled $30.4 million, down from $77.3 million at the end of the prior fiscal year [27] - Total inventory at year-end was $110.0 million, compared to $118.3 million at the prior fiscal year end [27] - The company repurchased approximately $21.8 million of its common stock during the fiscal year [29]