Fort Wayne-based Vera Bradley Inc. (Nasdaq: VRA) is reporting fiscal third quarter net income of $8.9 million, up from less than $150,000 during the same period last year. Chief Executive Officer Robert Wallstrom says the results were boosted by “very strong” e-commerce sales during the pandemic.
Wallstrom says the company’s e-commerce business reflected growth from both the Vera Bradley and Pura Vida brands. The company acquired Pura Vida in July 2019.
“Even as our stores were reopened during the third quarter, our Vera Bradley digital business rose nearly 50% over last year,” said Wallstrom. “And, Pura Vida’s e-commerce year-over-year sales grew over 17% for the quarter, despite supply chain disruptions. E-commerce sales comprised over a third of total Company revenues for the quarter.”
Wallstrom says the company is awarding employees with another $500 quarterly bonus. He says over the last two quarters, the company has paid more than $800,000 in bonuses to front line employees.
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