Core Insights - Vera Bradley, Inc. reported first quarter consolidated net revenues of $51.7 million, a decrease from $67.9 million in the same period last year [3][32] - The company experienced a net loss from continuing operations of $18.3 million, or $0.66 per diluted share, compared to a net loss of $7.6 million, or $0.25 per diluted share in the prior year [4][5] - The financial condition remains strong with $86 million in liquidity and no debt [1] Financial Performance Summary - The first quarter gross profit was $22.8 million, representing 44.1% of net revenues, down from $34.0 million or 50.1% in the prior year [10] - Selling, general, and administrative (SG&A) expenses totaled $40.8 million, or 79.0% of net revenues, compared to $45.1 million, or 66.4% in the prior year [12] - The operating loss from continuing operations was $17.9 million, or (34.6%) of net revenues, compared to a loss of $10.6 million, or (15.6%) in the prior year [13] Segment Performance - Vera Bradley Direct segment revenues were $43.1 million, a 23.6% decrease from $56.4 million in the prior year [8] - Comparable sales declined by 25.0%, primarily due to reduced traffic and conversion rates in full-line and outlet stores [8] - The Indirect segment revenues totaled $8.6 million, a 25.6% decrease from $11.5 million in the prior year, attributed to a decline in specialty and key account orders [9] Balance Sheet Highlights - Cash and cash equivalents as of May 3, 2025, were $11.3 million, down from $43.8 million at the end of the previous year's first quarter [13] - Total quarter-end inventory was $99.2 million, compared to $101.8 million at the end of the prior year's first quarter [14] Strategic Outlook - The company announced several executive and Board leadership changes and has suspended forward guidance due to significant uncertainty in the consumer environment [15]

CEO Jackie Ardrey will be departing the Company Ian Bickley will assume the role of Executive Chairman Martin Layding is joining the Company as Chief Financial Officer New Board Strategy and Transformation Committee Established FORT WAYNE, Ind., June 11, 2025 (GLOBE NEWSWIRE) -- Vera Bradley (Nasdaq: VRA) (the “Company”) today announced that its Chief Executive Officer, Jacqueline Ardrey is leaving the Company. The Board of Directors has launched a national search for Ms. Ardrey’s replacement. She will rema ...