Vera Bradley Files Q3 FY25 10-Q

TL;DR

Vera Bradley's Q3 FY25 10-Q is in. Check financials.

AI Summary

Vera Bradley, Inc. filed its 10-Q for the period ending November 2, 2024. The company reported financial results for the third quarter of fiscal year 2025, detailing its revenue, expenses, and net income. Key financial data and operational updates are provided in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Vera Bradley, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial details within can reveal significant risks or opportunities.

Key Players & Entities

• Vera Bradley, Inc. (company) — Filer of the 10-Q
• 20241102 (date) — End of the reporting period
• 20241211 (date) — Filing date

FAQ

Filing Documents

• vra-20241102.htm (10-Q) — 1225KB
• vra-20241102xex311.htm (EX-31.1) — 10KB
• vra-20241102xex312.htm (EX-31.2) — 10KB
• vra-20241102xex321.htm (EX-32.1) — 7KB
• vra-20241102_g1.jpg (GRAPHIC) — 4KB
• 0001495320-24-000091.txt ( ) — 6201KB
• vra-20241102.xsd (EX-101.SCH) — 35KB
• vra-20241102_cal.xml (EX-101.CAL) — 48KB
• vra-20241102_def.xml (EX-101.DEF) — 152KB
• vra-20241102_lab.xml (EX-101.LAB) — 509KB
• vra-20241102_pre.xml (EX-101.PRE) — 335KB
• vra-20241102_htm.xml (XML) — 1023KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of November 2 , 2024, and February 3, 2024 4 Condensed Consolidated Statements of Operations for the Thirteen and T hirty- N ine Weeks Ended November 2 , 2024, and Oc tober 2 8 , 2023 5 Condensed Consolidated Statements of Comprehensive (Loss ) Income for the Thirteen and Thirty-Nine Weeks Ended November 2 , 2024, and October 28 , 2023 6 Condensed Consolidated Statements of Shareholders' Equity for the Thirteen and Thirty-Nine Weeks Ended November 2, 2024, and October 28, 2023 7 Condensed Consolidated Statements of Cash Flows for the Thirty-Nine Weeks Ended November 2, 2024, and October 28, 2023 9 Notes to the Condensed Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 36

Risk Factors

Item 1A. Risk Factors 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 38 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical or current fact included in this report are forward-looking statements. Forward-looking statements include references to our current expectations and projections relating to our financial condition, results of operations, plans, objectives, strategies, future performance, and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "might," "will," "should," "can have," and "likely" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. For example, all statements we make relating to our estimated and projected earnings, revenues, costs, expenditures, cash flows, growth rates, and financial results, our plans and objectives for future operations, growth, initiatives, or strategies, or the expected outcome or impact of pending or threatened litigation are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: possible inability to successfully implement our long-term strategic plans, including Project Restoration; possible declines in our comparable sales; possible inability to maintain and enhance our brands; possible failure of our multi-channel distribution model; possible adverse changes in general economic conditions and their impact on consumer confidence and consumer spending, including political unrest, social unrest, acts of war and terrorism, and other related matters; possible inability to predict and respond in a timely manner to changes in cons

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Vera Bradley, Inc. Condensed Consolidated Balance Sheets (in thousands) (unaudited) November 2, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 13,711 $ 77,303 Accounts receivable, net 24,263 17,112 Inventories 131,314 118,278 Income taxes receivable 3,948 461 Prepaid expenses and other current assets 11,549 12,803 Total current assets 184,785 225,957 Operating right-of-use assets 83,239 66,488 Property, plant, and equipment, net 54,356 54,256 Intangible assets, net 6,237 7,573 Deferred income taxes 20,471 20,355 Other assets 9,887 6,157 Total assets $ 358,975 $ 380,786 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 19,933 $ 14,155 Accrued employment costs 6,876 12,944 Short-term operating lease liabilities 21,172 18,452 Other accrued liabilities 11,575 12,070 Income taxes payable 210 640 Total current liabilities 59,766 58,261 Long-term operating lease liabilities 73,965 62,552 Other long-term liabilities 46 44 Total liabilities 133,777 120,857 Commitments and contingencies Shareholders' equity: Preferred stock; 5,000 shares authorized, no shares issued or outstanding — — Common stock, without par value; 200,000 shares authorized, 43,523 and 43,253 shares issued and 27,802 and 30,814 shares outstanding, respectively — — Additional paid-in-capital 114,167 112,590 Retained earnings 267,252 282,467 Accumulated other comprehensive income (loss) 14 ( 72 ) Treasury stock ( 156,235 ) ( 135,056 ) Total shareholders' equity 225,198 259,929 Total liabilities and shareholders' equity $ 358,975 $ 380,786 The accompanying notes are an integral part of these financial statements. 4 Table of Contents Vera Bradley, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Thirteen Weeks Ended Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net re

View Full Filing

View this 10-Q filing on SEC EDGAR