×
47 316
Fashion Jobs
MACY'S
Asset Protection Detective, Crabtree Valley Mall - Part Time
Permanent · Raleigh
MACY'S
Principal, Human Resources Business Partner (ny, Cincinnati, or Remote)
Permanent · Springdale
MACY'S
Asset Protection Detective, Los Angeles dt Broadway Plaza - Full Time
Permanent · Los Angeles
MACY'S
Manager, Business Administration
Permanent · St. Petersburg
MACY'S
Asset Protection Detective, Mall Del Norte - Full Time
Permanent · Laredo
MACY'S
Dept Hourly Supervisor, ft, Day (Mon-Fri), Furniture & Bedding Warehouse
Permanent · Miami
MACY'S
Asset Protection Detective, North Star Mall - Part Time
Permanent · San Antonio
MACY'S
Detective, Multi-Store Taskforce, Westshore - Full Time
Permanent · Tampa
MACY'S
Senior Manager, Business Administration
Permanent · Louisville
MACY'S
Asset Protection Detective, Oakridge - Full Time
Permanent · San Jose
MACY'S
Multi-Store Detective, Willowbrook Mall - Full Time
Permanent · Houston
MACY'S
Asset Protection Captain, Alderwood - Full Time
Permanent · Lynnwood
MACY'S
Manager, Data Visualization , Marketing
Permanent · New York
MACY'S
Asset Protection Detective, Green Acres - Full Time
Permanent · Valley Stream
MACY'S
Asset Protection Officer, Secaucus D2C fj - Full Time
Permanent · Secaucus
MACY'S
Asset Protection Captain, Ala Moana - Full Time
Permanent · Honolulu
CP SHADES
Customer Relationship Manager
Permanent · SAUSALITO
BUSTLE
Associate Commerce Editor
Permanent · Remote
TAPESTRY
Stock Lead i
Permanent · Woodbury
AEROPOSTALE
Associate Product Manager, Nautica
Permanent · New York
GAP INC
Manager of Asset Protection Operations (Remote Role)
Permanent · Washington
GAP INC
Manager of Asset Protection Operations (Remote Role)
Permanent · New York
Published
Sep 5, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Pura Vida acquisition boosts Vera Bradley sales but saps bottom line

Published
Sep 5, 2019

Vera Bradley, Inc.’s recently acquired jewelry brand Pura Vida contributed $5.4 million in sales to its new parent company’s revenues in the second quarter, while charges related to its purchase ate into the Fort Wayne, Indiana-based accessories group’s income.


Acquired by Vera Bradley earlier this year, Pura Vida is a digitally native jewelry brand based in La Jolla, California - Instagram: @puravidabracelets

 
Vera Bradley’s consolidated net revenues for the second quarter ended August 3, 2019, totaled $119.8 million, up 5.5% from the $113.6 million reported by the company in the prior-year period.
 
Excluding sales from Pura Vida, which was acquired by Vera Bradley in July, the company’s net revenues were $114.4 million, representing a 0.7% increase compared to the previous year’s Q2. Comparable sales rose 2.1%.

Direct segment revenues at the Vera Bradley brand were $94.4 million, a 3.7% increase from $91.0 million, while the segment’s comparable sales rose 2.1%.
 
The brand’s indirect segment fared less well, posting an 11.4% decrease in revenues, which totaled $20.0 million, compared to $22.6 million.
 
“Vera Bradley’s comparable sales, full-price selling, and customer count were once again up in the quarter, and we successfully managed our expenses,” said Vera Bradley CEO Rob Wallstrom in a release. “However, retail remains challenging, particularly in the Indirect channel as our partners continue to feel the pressure of a difficult environment, and our total sales fell slightly below our expectations. In addition, gross margins continue to be pressured by increasing tariffs and higher shipping costs.”
 
Total company net income came to $5.9 million, or $0.17 per diluted share, in the quarter, down from $9.3 million, or $0.26 per diluted share, in the prior-year period. The decline reflects the negative impact of $2.3 million in expenses related to the acquisition of Pura Vida, as well as charges of $0.5 million incurred through the re-platforming of Vera Bradley’s IT systems.
 
The company’s net revenues for the first six months of the fiscal year totaled $210.8 million, or $205.4 million disregarding the contribution of Pura Vida, up from $200.2 million in the first half of the previous year. Comparable sales rose 3.3% in the period.
 
Year to date, Vera Bradley’s consolidated net income came to $3.4 million, or $0.10 per diluted share, falling from $7.9 million, or $0.22 per diluted share, in the same period in the previous year.
 
In the third quarter, the company expects to see net revenues of between $122 and $129 million, including a contribution of $23 to $25 million from Pura Vida, while full-year revenues are expected to be in the range of $490 to $505 million.

Copyright © 2021 FashionNetwork.com All rights reserved.