Vera Bradley Q1 FY20: sales $37 mn; e-com sales up 21.5%

Fashion

08 Jul `20

2 min read

Vera Bradley, a leading designer of women’s handbags, fashion and home accessories, has reported 48.2 per cent decline in its first quarter (Q1) FY20 sales to $36.8 million (Q1 FY19: $71.1 million). However, e-commerce sales for the quarter that ended on May 2, 2020, included in direct segment grew 20.5 per cent compared to same period last year.

Vera Bradley, a leading designer of women`s handbags, fashion and home accessories, has reported 48.2 per cent decline in its first quarter (Q1) FY20 sales to $36.8 million (Q1 FY19: $71.1 million). However, e-commerce sales for the quarter that ended on May 2, 2020, included in direct segment grew 20.5 per cent compared to same period last year.#

“With adversity comes opportunity,” Rob Wallstrom, chief executive officer at Vera Bradley, said in a press release. “We know that this crisis will have a lasting effect on consumers and transform the way they shop. Our 2019 acquisition of Pura Vida has resulted in e-commerce being a larger share of our total company revenues, and the digital skills of both companies will be even more critical in this new environment.”

Vera Bradley, a leading designer of women`s handbags, fashion and home accessories, has reported 48.2 per cent decline in its first quarter (Q1) FY20 sales to $36.8 million (Q1 FY19: $71.1 million). However, e-commerce sales for the quarter that ended on May 2, 2020, included in direct segment grew 20.5 per cent compared to same period last year.#

Gross profit for the quarter came down to $34.1 million ($50.4 million). Selling, general and administrative expenses rose to $59.7 million ($54.2 million). Company incurred an operating loss loss of $25.5 million ($3.6 million).

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