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

Fashion

02 Sep `21

2 min read

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.

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