Q1 2025 Vera Bradley Inc Earnings Call Transcript
Key Points
- Project Restoration is set to drive long-term profitable growth with new product assortments and updated branding.
- Positive response from wholesale partners to new products and collaborations.
- Strong balance sheet with increased cash position and strategic inventory reduction.
- Successful launch of the online outlet store driving revenue and new customer acquisition.
- Focus on marketing efficiency and diversification to improve e-commerce performance.
- First quarter revenues fell 14.6% year-over-year, reflecting economic challenges and transitionary phase.
- Vera Bradley direct revenues decreased by 4%, primarily due to traffic challenges in the outlet channel.
- Pura Vida sales declined 37% year-over-year, impacted by reduced marketing spend and higher costs.
- Vera Bradley Indirect revenues dropped 25% as wholesale partners awaited new launch products.
- First quarter net loss increased to $6.5 million from $2.6 million in the prior year.
Greetings. Welcome to the Vera Bradley first-quarter fiscal 2025 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
At this time, I'll now turn the conference over to Mark Dely, Chief Administrative Officer. Mr. Dely, you may begin.
Good morning and welcome everyone. We'd like to thank you for joining us for today's call. Some of the statements made during our prepared remarks in response to your questions may constitute forward-looking statements made pursuant to and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from those that we expect. Please refer to today's press release in the company's most recent Form 10-K filed with the SEC for discussion of known risks and uncertainties. Investors should not assume that the statements
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