Vera Bradley Recent Poor Financial News

scotnovel · ‎12-31-2013

I don't care for their products but I thought this was interesting. From a Wall Street Journal report from 2 days ago:

Vera Bradley Inc. warned Wednesday that its plan to draw in new customers through a revamped assortment of leather and microfiber handbags is taking longer than expected, sending shares down as much as 18% to new all-time lows.

The retailer, known for its patterned handbags, backpacks and luggage, also gave a dismal forecast for its current quarter and new fiscal year. It also added that it wouldn’t meet its goal of delivering $1 billion in sales in five years.

Vera’s shares dropped as low as $14.81, about 14% below its previous record low of $17.27 in 2013.challenging.”

Vera Bradley has traditionally relied on its cotton-quilted products to drive business, a style that the company said only allows it to compete in about 10% of the overall handbag market. Under Mr. Wallstrom, who joined the company in 2013, Vera has been working to introduce new products, including laser-cut, leather and microfiber handbags, and focusing on fewer patterns and more color blocks.

“By this time, we had expected to regain momentum in the business, but that has not happened,” Chief Executive Robert Wallstrom said. “Our core customers are continuing to buy our products. However, our primary issue is that we have not attracted enough new customers to the brand, and therefore, both traffic and sales remain extremely

tough_kitty · ‎04-22-2014

Not a fan either, but it's an interesting article. Thank you for sharing.

Anonymous2012 · ‎03-05-2011

I ordered some of their merchandise on QVC and I have been happy with my purchases. But when I have gone to Vera Bradley in my local mall I was not all that pleased with the customer service. The employees seemed to have a stuck up nature. Since then, I have not bought any more Vera Bradley on QVC or in their stores. But I do really like the pieces that I have.

tough_kitty · ‎04-22-2014

To add to this, I haven't seen them doing ANY marketing so it's no surprise they can't attract new customers!!! What kind of CEO is that.... customers don't just magically appear!

AnotherView2 · ‎06-19-2011

On 3/13/2015 Anonymous2012 said:
I ordered some of their merchandise on QVC and I have been happy with my purchases. But when I have gone to Vera Bradley in my local mall I was not all that pleased with the customer service. The employees seemed to have a stuck up nature. Since then, I have not bought any more Vera Bradley on QVC or in their stores. But I do really like the pieces that I have.

I worked in the handbag dept. at a Dillard's and the VB rep that came in the store I worked in was really rude and snobby and attempted to boss us around. My supervisor had to put her in her place and remind her that we didn't work for her, we worked for Dillard's.

cinebee · ‎03-22-2010

I went through a VB obsessive mode a few years back and now I wish I had all that money back! I have a closet full of the printed bags and never use them because I always feel like they have to match my clothing. I CANNOT carry a bag that clashes with what I am wearing and it is too much trouble to constantly change handbags. Not to mention for some reason I now think they are frumpy looking. Funny how your taste can change.

Chrystaltree2 · ‎12-08-2014

I remember reading that VB was going to add leather bags to it's collections and they planned to scale back on the wild, bright prints. But it's a slippery slope. The VB brand has a particular image and nothing is going to change that. I suppose their customer base is aging and buying, they need new customers. But that is going to be a lot harder than they thought.

millieshops · ‎03-09-2010

For me, the best thing VB has done lately has been enlarging the number of styles in plain colors. Although I like many of the patterns, I don't want a huge bag collection, so one pattern at a time is enough for me. There is a VB store in the big mall near my FL condo and the staff is always pleasant and helpful. It's been over two years since I bought any new bags, but there will be a new one going north with me in May - just not sure which one.

santorini · ‎03-09-2010

For me, it's a fad that came and went. Back when my daughter was in middle school (2003-ish), they were very popular. All the 6th & 7th graders asked their moms for Vera bags to be used as their gym bags for volleyball/tennis gear. They were all made in the USA and there was only one upscale boutique where they could be bought in my area and monogrammed.

A few years later, I tried to buy a duffel for her to use for overnights and she frowned and said they weren't really in anymore. I did buy some duffels for overseas travel because they folded flat and fit nicely in the luggage in case more things were coming home than were going over. I don't really see them here anymore, so I guess it's not so much a matter of them trying to get new buyers so much as their problem has been LOSING the customers they once had. The removal from US manufacturing was a mistake, in my opinion, but I know it's all about the dollar.