US handbag designer firm Vera Bradley reports Q2 revenues of $147 mn

Vera Bradley, a US-based leading designer of women’s handbags, fashion and home accessories, posted 11.6 per cent revenues increase to $147.0 million in its second quarter (Q2) of FY22 ended on July 31, 2021, compared to $131.8 million in the corresponding period of previous fiscal. Net income during the quarter rose to $9.8 million (Q2 FY21: $8.3 million).

 

Vera Bradley, a US-based leading designer of women's handbags, fashion and home accessories, posted 11.6 per cent revenues increase to $147.0 million in its second quarter (Q2) of FY22 ended on July 31, 2021, compared to $131.8 million in the corresponding period of previous fiscal. Net income during the quarter rose to $9.8 million (Q2 FY21: $8.3 million).#

“Second quarter Vera Bradley brand revenues continued to improve as customers responded to product innovation, stores were fully operational, and sales of travel-related products rebounded, despite anniversarying exceptionally strong mask sales from the prior year,” Rob Wallstrom, chief executive officer at Vera Bradley, said in a press release.

 

Vera Bradley, a US-based leading designer of women's handbags, fashion and home accessories, posted 11.6 per cent revenues increase to $147.0 million in its second quarter (Q2) of FY22 ended on July 31, 2021, compared to $131.8 million in the corresponding period of previous fiscal. Net income during the quarter rose to $9.8 million (Q2 FY21: $8.3 million).#

Vera Bradley direct segment revenues in the three-month period surged 19.6 per cent to $97.1 million against same period of last fiscal ended on August 1, 2020. However Vera Bradley indirect segment revenues marginally decline 5.1 per cent to $16.8 million, reflecting a reduction in orders primarily related to a lower volume of mask sales, partially offset by a rebound in specialty and key account orders in other product categories that were negatively impacted by COVID-19 in the prior year. Furthermore, Pura Vida segment revenues totalled to $33.1 million.

 

Vera Bradley, a US-based leading designer of women's handbags, fashion and home accessories, posted 11.6 per cent revenues increase to $147.0 million in its second quarter (Q2) of FY22 ended on July 31, 2021, compared to $131.8 million in the corresponding period of previous fiscal. Net income during the quarter rose to $9.8 million (Q2 FY21: $8.3 million).#

The company’s gross profit during Q2 FY22 slightly improved to $80.4 million. On the other hand, operating income slipped from $17.5 million in Q2 FY21 to $12.5 million in the reported period.

 

Vera Bradley, a US-based leading designer of women's handbags, fashion and home accessories, posted 11.6 per cent revenues increase to $147.0 million in its second quarter (Q2) of FY22 ended on July 31, 2021, compared to $131.8 million in the corresponding period of previous fiscal. Net income during the quarter rose to $9.8 million (Q2 FY21: $8.3 million).#

In its outlook for the FY22, the American luggage designer firm said that it expects the revenues to be in the range of $550-$565 million against $468.3 million in the fiscal 2021.

 

Vera Bradley, a US-based leading designer of women's handbags, fashion and home accessories, posted 11.6 per cent revenues increase to $147.0 million in its second quarter (Q2) of FY22 ended on July 31, 2021, compared to $131.8 million in the corresponding period of previous fiscal. Net income during the quarter rose to $9.8 million (Q2 FY21: $8.3 million).#

“With our strong first quarter performance, fiscal 2022 is off to a solid start, with year-to-date earnings well ahead of last year and even ahead of where we were in fiscal 2020, pre-pandemic,” Wallstrom added. “We realise we will continue to face certain headwinds and uncertainties for the balance of the year, but also know that both of our lifestyle brands have significant long-term growth opportunities ahead, well beyond their core product categories. We are on track and remain committed to our vision to be a purpose-driven, multi-lifestyle brand, high-growth company.”