Vera Bradley Q2 2021 Earnings Report

Vera Bradley's second quarter results significantly exceeded expectations, showing a strong performance despite COVID-19 headwinds

Key Takeaways

Vera Bradley, Inc. reported a 10% increase in total revenue for the second quarter, driven by the Pura Vida acquisition and strong e-commerce performance. The company's GAAP EPS was $0.42 per diluted share, and non-GAAP EPS was $0.32 per diluted share. The balance sheet remains strong, with cash, cash equivalents, and investments increasing year-over-year to $77.1 million.

Total revenue increased by 10.0%, influenced by the Pura Vida acquisition and robust Vera Bradley e-commerce sales.

GAAP EPS was $0.42 per diluted share, and non-GAAP EPS was $0.32 per diluted share, excluding certain items.

Gross margin rate significantly improved due to cotton mask sales, product collaborations, and inventory management.

Cash, cash equivalents, and investments increased year-over-year to $77.1 million, even after reducing borrowings.