Vera Bradley, Inc. (NASDAQ:VRA) Q3 2024 Earnings Call Transcript

Jackie Ardrey: Yes. That’s a great question too, Eric. And we were able to deliver this leather collection, it had kind of a truncated time period compared to our normal supply chain lead times. So, we got this in to test informed some of our leather expansion that we’re planning to do next year, and we were really pleased with the results. A lot of it sold through fairly quickly. And I would say from a new customer perspective, our existing customers were so excited to see this that we didn’t really have as much opportunity to drive new customer acquisition from it because a lot of it was really sold through in the first three or four weeks. So, we’re really looking forward to learning and continuing to grow that segment of our business. It used to be a very important part of our business.

Eric Beder: Okay. Last question. Is there a 53rd week in your Q4? And how big is that if it is there?

Michael Schwindle: There is a 53rd week in this fiscal year. It’s a relatively small amount of sales overall.

Eric Beder: Okay. Congratulations again, and good luck into the holiday season.

Operator: And that does conclude the question-and-answer session. I’ll now turn the conference back over to you.

Jackie Ardrey: Our entire team is dedicated to returning both Vera Bradley and Pura Vida to profitable growth and generating strong cash flow through Project Restoration. This should deliver value to our shareholders over the long term. We are right on track with our Project Restoration initiatives. This year, we have been diligently focusing on stabilizing sales, expanding gross margin and controlling expenses. We believe this focus at a minimum should nearly double year-over-year operating income and more than double EPS. We are excited about the opportunities for both brands. Thank you for joining us today, and we look forward to sharing our progress with you on our year-end earnings call on March 13.

Operator: Thank you. And that does conclude today’s conference. We do thank you for your participation. Have an excellent day.