Vera Bradley Announces First Quarter Fiscal Year 2027 Results

About this update from Vera Bradley, Inc.

First quarter consolidated net revenues grew 7.8% to $55.7 million; represents the first quarter of growth since Fiscal 2022 Continued sequential progress with sales growth, margin expansion and significant profit improvement FORT WAYNE, Ind., June 11, 2026 (GLOBE NEWSWIRE) -- Vera Bradley, Inc. (Nasdaq: VRA) (the “Company”) today announced its financial results for the first quarter of the fiscal year ending January 30, 2027 (“Fiscal 2027”). First Quarter Comments“I’m pleased to report that our first quarter results demonstrate continued momentum in our Project Sunshine transformation to reclaim Vera Bradley’s joyful optimism while building operational excellence,” said Ian Bickley, Chief Executive Officer of Vera Bradley. “We achieved our first quarter of overall revenue growth since Q4 FY22, marking an important inflection point in our turnaround. This achievement reflects the cumulative impact of our strategic initiatives and the hard work and commitment of our entire team.” Bickley continued, “Our first quarter delivered strong results across multiple metrics. On a non-GAAP basis, we generated year-over-year gross margin expansion of 430 basis points, managed expenses prudently with total costs down nearly 15%, and improved our operating loss by $10 million, or 76%. We achieved these results while reducing year-over-year inventory by 26% and improving operating cash flow by $12.7 million, a 70% improvement.” “The progress made across the five strategic pillars of Project Sunshine validates that we’re on the right path. We successfully impacted nearly 80% of the spring collection, and Q1 was the first quarter of customer growth in our direct channels since calendar 2021. Our strategic collaborations with Bath and Body Works and Target ignited strong engagement, with approximately 80% of customers who engaged through these partnerships being new to Vera Bradley.” “We are encouraged by the building momentum, and recognize that significant work remains. Based on the solid start to fiscal 2027, we now expect year-over-year non-GAAP operating loss improvement of at least 50%. We remain committed to returning the business to long-term sustainable growth, profitability, and cash flow generation,” concluded Bickley. Summary of First Quarter Financial Performance Consolidated net revenues from continuing operations totaled $55.7 million, compared to $51.7 mill...

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