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Vera Bradley Inc   (VRA)
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Vera Bradley Inc's Customers Performance

VRA

 
VRA's Source of Revenues In the Q1, Vera Bradley Inc 's corporate clients experienced a decline by -10.28 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -5.24 %. During the corresponding time, Vera Bradley Inc revenue deteriorated by -15.32 % year on year, sequentially revenue fell by -51.15 %. While revenue at the Vera Bradley Inc 's corporate clients fell by -5.34 % year on year, sequentially revenue fell by -3.85 %.

List of VRA Customers




Customers of Vera Bradley Inc saw their costs of revenue decline by -10.28 % in Q1 compare to a year ago, sequentially costs of revenue were trimmed by -5.24 %, for the same period Vera Bradley Inc revnue deteriorated by -15.32 % year on year, sequentially revnue fell by -51.15 %.

List of VRA Customers



   
Customers Net Income grew in Q1 by Customers Net margin grew to
95.32 % 4.79 %
Customers Net Income grew in Q1 by 95.32 %


Customers Net margin grew to 4.79 %



Vera Bradley Inc's Customers, Q1 2024 Revenue Growth By Industry
Customers in Furniture & Fixtures Industry -1.61 %   
Customers in Retail Apparel Industry      6.41 %
Customers in Internet, Mail Order & Online Shops Industry      12.53 %
Customers in Department & Discount Retail Industry -3.15 %   
Customers in Wholesale Industry -14.01 %   
     
• Customers Valuation • Customers Mgmt. Effect.


Vera Bradley Inc's Comment on Sales, Marketing and Customers



Direct Segment
Full-Line Stores. We have developed a retail presence through our full-line stores, all located in the United States, which provides us with a format to showcase our brand and the full array of Vera Bradley products. We operated 110 full-line stores averaging approximately 1,900 square feet per store. Our sales associates are passionate about our products and customer service, which, we believe, translates into a superior shopping experience.


Factory Outlet Stores. Our factory outlet stores are a vehicle for selling factory exclusive styles, as well as retired merchandise at discounted prices, while maintaining brand integrity. We believe our factory outlet stores are an integral part of our distribution strategy, as this format provides an additional channel of distribution for our products and enables us to better target value-oriented customers. Our factory outlet stores average approximately 3,200 square feet per store. As of January 30, 2016, we operated 40 factory outlet stores.


Store Location Selection Strategy. Our store location decisions for both full-line and factory outlet stores are made based upon our comprehensive retail strategy that includes actual and planned penetration in both Indirect and Direct segments, as well as existing e-commerce demand. At this time, we do not believe any geographical market has been fully penetrated by our distribution channels. We believe that expansion of our store base complements our Indirect segment by increasing brand awareness and reinforcing our brand image. In addition to analyzing store economics, we pay particular attention to the location within the shopping center, the size and shape of the space, and desirable co-tenancies. Along with seeking co-tenants that we believe share our target customer, we seek a balanced mix of moderate and high-end retailers to encourage high levels of traffic. Our target full-line store size is approximately 1,800 square feet, but we are able to work with spaces as small as 1,000 square feet or, depending on our market strategy and relevant economic factors, spaces as large as 2,800 square feet. Our target factory outlet store size is approximately 3,000 square feet.


Store Operations. The focus of our store operations is providing consumers with a comfortable and memorable shopping experience. We strive to make the experience interactive through special store events, such as showcasing newly launched products or celebrating our namesake’s birthday. Our customer service philosophy emphasizes friendly service, merchandise knowledge, and passion for the brand. Consequently, an essential requirement for the success of our stores is our ability to attract, train, and retain talented, highly motivated district managers, store managers, and sales associates.
Store Economics. We expect our new full-line stores to average approximately 1,800 square feet per store, and we expect to invest approximately $0.4 million per new store, consisting of inventory costs, pre-opening costs, and build-out costs, less tenant-improvement allowances. New full-line stores generate, on average, approximately $0.8 million in net revenues during the first twelve months, and the payback on our investment is expected to occur in less than 22 months.


We expect our factory outlet stores to average approximately 3,000 square feet per store, and we expect to invest approximately $0.4 million per new store, consisting of inventory costs, pre-opening costs, and build-out costs, less tenant-improvement allowances. New factory outlet stores generate, on average, approximately $3.0 million in net revenues during the first twelve months, and the payback on our investment is expected to occur in less than 12 months.


Annual Outlet Sale. Our annual outlet sale is held in the Allen County War Memorial Coliseum Exposition Center in Fort Wayne, Indiana. The annual outlet sale is an important tradition for Vera Bradley, has many loyal followers, and is an opportunity for us to sell our retired merchandise at discounted prices in a brand-right fashion. We attracted approximately 55,000 attendees to our 2015 annual outlet sale.

Indirect Segment
W e sold our products in approximately 2,600 specialty retail locations, with the majority of which we have had long-standing relationships, as well as department stores, national accounts, third party e-commerce sites, our wholesale business in Japan and third-party inventory liquidators. The top 30% of our specialty retailers account for approximately 70% of total specialty retailer revenue. No single account represented more than 10% of consolidated net revenues in fiscal 2016, with the top ten accounts representing in the aggregate approximately 30% of total Indirect net revenues. The majority of our Indirect retailers have been customers for over five years.

 

Indirect Sales Force
We believe that having an in-house field sales force results in more consistent brand presentation and messaging, enhanced support for our Indirect customers, and a more predictable, scalable, and cost-efficient business model.


In addition to acquiring new and growing existing accounts, our sales consultants serve as a support center for our Indirect customers by assisting and educating them in areas such as merchandising and visual presentation, marketing the brand, product selection, and inventory management. Our visual merchandising program provides our sales consultants with a framework to guide our Indirect customers regarding optimal product placement and display that is intended to reinforce the message that our brand is distinct from those of our competitors.

Manufacturing and Supply Chain Model
Our multi-country manufacturing and supply chain model is designed to achieve efficient, timely, and accurate order fulfillment while maintaining appropriate levels of inventory.


Our manufacturing and sourcing strategy is part of the larger cross-functional product development process. The overall objective for our sourcing team is to build and sustain collaborative partnerships throughout our supply chain, with a focus on identifying appropriate countries and partners to manufacture our products. The sourcing team leverages its expertise in negotiation, relationship management, and change management to maintain a strong global supply chain.


We strive to maintain the appropriate balance of inventory to enable us to provide a high level of service to our customers, including prompt and accurate delivery of our products. We have an active and nimble sales and operations planning process that helps us balance the supply and demand issues that we encounter in our business, optimize our inventory levels, and anticipate inventory needs. We have also integrated our planning, forecasting, and segmentation processes under one function called Merchandise Planning and Allocation.


Approximately half of our products are cotton-based. Our other fabrics include nylon, polyester, microfiber, leather, and faux leather. We source our materials from various suppliers in Asia, with the majority coming from China and South Korea. Our global sourcing team works with select suppliers enabling us to optimize the mix of cost, lead time, quality, and reliability within our global supply network. All of our suppliers must comply with our quality standards, and we use only a limited number of pre-approved suppliers who have demonstrated a commitment to delivering the highest quality products. In December 2008, we opened an office in Dongguan, China, which enables us to increase our control over the manufacturing and supply chain process and monitor compliance with our quality standards. In April 2016, we plan to open an office in Hong Kong to lead the global supply chain in Asia, including the oversight of sourcing and procurement.


The majority of our finished goods products, not sourced through licenses or strategic partners, are manufactured overseas by a variety of global manufacturers located primarily in China; however, we are diversifying our manufacturing to include other countries such as Vietnam and Cambodia. We are not dependent upon any single manufacturer for our products. When determining the size of orders placed with our manufacturers, we take into account forward-looking demand, lead times for specific products, current inventory levels, and minimum order quantity requirements. Overseas production has resulted in substantial cost savings and a reduction of capital investment. With the oversight of our office in China and our independent contractors, we believe these financial benefits have been realized without sacrificing the level of quality inherent in our products or service to our customers.






Vera Bradley Inc's Comment on Sales, Marketing and Customers


Direct Segment
Full-Line Stores. We have developed a retail presence through our full-line stores, all located in the United States, which provides us with a format to showcase our brand and the full array of Vera Bradley products. We operated 110 full-line stores averaging approximately 1,900 square feet per store. Our sales associates are passionate about our products and customer service, which, we believe, translates into a superior shopping experience.


Factory Outlet Stores. Our factory outlet stores are a vehicle for selling factory exclusive styles, as well as retired merchandise at discounted prices, while maintaining brand integrity. We believe our factory outlet stores are an integral part of our distribution strategy, as this format provides an additional channel of distribution for our products and enables us to better target value-oriented customers. Our factory outlet stores average approximately 3,200 square feet per store. As of January 30, 2016, we operated 40 factory outlet stores.


Store Location Selection Strategy. Our store location decisions for both full-line and factory outlet stores are made based upon our comprehensive retail strategy that includes actual and planned penetration in both Indirect and Direct segments, as well as existing e-commerce demand. At this time, we do not believe any geographical market has been fully penetrated by our distribution channels. We believe that expansion of our store base complements our Indirect segment by increasing brand awareness and reinforcing our brand image. In addition to analyzing store economics, we pay particular attention to the location within the shopping center, the size and shape of the space, and desirable co-tenancies. Along with seeking co-tenants that we believe share our target customer, we seek a balanced mix of moderate and high-end retailers to encourage high levels of traffic. Our target full-line store size is approximately 1,800 square feet, but we are able to work with spaces as small as 1,000 square feet or, depending on our market strategy and relevant economic factors, spaces as large as 2,800 square feet. Our target factory outlet store size is approximately 3,000 square feet.


Store Operations. The focus of our store operations is providing consumers with a comfortable and memorable shopping experience. We strive to make the experience interactive through special store events, such as showcasing newly launched products or celebrating our namesake’s birthday. Our customer service philosophy emphasizes friendly service, merchandise knowledge, and passion for the brand. Consequently, an essential requirement for the success of our stores is our ability to attract, train, and retain talented, highly motivated district managers, store managers, and sales associates.
Store Economics. We expect our new full-line stores to average approximately 1,800 square feet per store, and we expect to invest approximately $0.4 million per new store, consisting of inventory costs, pre-opening costs, and build-out costs, less tenant-improvement allowances. New full-line stores generate, on average, approximately $0.8 million in net revenues during the first twelve months, and the payback on our investment is expected to occur in less than 22 months.


We expect our factory outlet stores to average approximately 3,000 square feet per store, and we expect to invest approximately $0.4 million per new store, consisting of inventory costs, pre-opening costs, and build-out costs, less tenant-improvement allowances. New factory outlet stores generate, on average, approximately $3.0 million in net revenues during the first twelve months, and the payback on our investment is expected to occur in less than 12 months.


Annual Outlet Sale. Our annual outlet sale is held in the Allen County War Memorial Coliseum Exposition Center in Fort Wayne, Indiana. The annual outlet sale is an important tradition for Vera Bradley, has many loyal followers, and is an opportunity for us to sell our retired merchandise at discounted prices in a brand-right fashion. We attracted approximately 55,000 attendees to our 2015 annual outlet sale.

Indirect Segment
W e sold our products in approximately 2,600 specialty retail locations, with the majority of which we have had long-standing relationships, as well as department stores, national accounts, third party e-commerce sites, our wholesale business in Japan and third-party inventory liquidators. The top 30% of our specialty retailers account for approximately 70% of total specialty retailer revenue. No single account represented more than 10% of consolidated net revenues in fiscal 2016, with the top ten accounts representing in the aggregate approximately 30% of total Indirect net revenues. The majority of our Indirect retailers have been customers for over five years.

 

Indirect Sales Force
We believe that having an in-house field sales force results in more consistent brand presentation and messaging, enhanced support for our Indirect customers, and a more predictable, scalable, and cost-efficient business model.


In addition to acquiring new and growing existing accounts, our sales consultants serve as a support center for our Indirect customers by assisting and educating them in areas such as merchandising and visual presentation, marketing the brand, product selection, and inventory management. Our visual merchandising program provides our sales consultants with a framework to guide our Indirect customers regarding optimal product placement and display that is intended to reinforce the message that our brand is distinct from those of our competitors.

Manufacturing and Supply Chain Model
Our multi-country manufacturing and supply chain model is designed to achieve efficient, timely, and accurate order fulfillment while maintaining appropriate levels of inventory.


Our manufacturing and sourcing strategy is part of the larger cross-functional product development process. The overall objective for our sourcing team is to build and sustain collaborative partnerships throughout our supply chain, with a focus on identifying appropriate countries and partners to manufacture our products. The sourcing team leverages its expertise in negotiation, relationship management, and change management to maintain a strong global supply chain.


We strive to maintain the appropriate balance of inventory to enable us to provide a high level of service to our customers, including prompt and accurate delivery of our products. We have an active and nimble sales and operations planning process that helps us balance the supply and demand issues that we encounter in our business, optimize our inventory levels, and anticipate inventory needs. We have also integrated our planning, forecasting, and segmentation processes under one function called Merchandise Planning and Allocation.


Approximately half of our products are cotton-based. Our other fabrics include nylon, polyester, microfiber, leather, and faux leather. We source our materials from various suppliers in Asia, with the majority coming from China and South Korea. Our global sourcing team works with select suppliers enabling us to optimize the mix of cost, lead time, quality, and reliability within our global supply network. All of our suppliers must comply with our quality standards, and we use only a limited number of pre-approved suppliers who have demonstrated a commitment to delivering the highest quality products. In December 2008, we opened an office in Dongguan, China, which enables us to increase our control over the manufacturing and supply chain process and monitor compliance with our quality standards. In April 2016, we plan to open an office in Hong Kong to lead the global supply chain in Asia, including the oversight of sourcing and procurement.


The majority of our finished goods products, not sourced through licenses or strategic partners, are manufactured overseas by a variety of global manufacturers located primarily in China; however, we are diversifying our manufacturing to include other countries such as Vietnam and Cambodia. We are not dependent upon any single manufacturer for our products. When determining the size of orders placed with our manufacturers, we take into account forward-looking demand, lead times for specific products, current inventory levels, and minimum order quantity requirements. Overseas production has resulted in substantial cost savings and a reduction of capital investment. With the oversight of our office in China and our independent contractors, we believe these financial benefits have been realized without sacrificing the level of quality inherent in our products or service to our customers.










VRA's vs. Customers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Vera Bradley Inc 205.58 485.51 -82.83 2,950
Abercrombie and Fitch Co 8,363.27 4,465.41 432.64 65,000
Costco Wholesale Corp 373,375.28 253,695.00 7,173.00 304,000
Dillard s inc 6,502.31 6,833.32 717.39 40,000
Dollar General Corp oration 27,365.67 39,261.34 1,510.21 163,000
Gap Inc 8,743.89 15,888.00 502.00 129,000
Kohl s Corp 2,447.94 17,539.00 -142.00 137,000
Nordstrom Inc 3,791.14 14,847.00 300.00 67,000
Target Corporation 70,554.55 106,621.00 4,130.00 450,000
The Tjx Companies Inc 129,532.38 50,632.00 3,677.00 340,000
Walmart Inc 572,508.88 620,496.00 14,703.00 2,300,000
Macys Inc 4,635.91 23,693.00 12.00 166,900
Ross Stores Inc 48,225.00 20,740.32 1,991.32 100,000
Urban Outfitters Inc 4,359.74 4,803.71 422.30 24,000
Berkshire Hathaway Inc 492,047.10 349,271.00 77,710.00 0
Big Lots Inc 33.17 4,606.73 -480.84 36,100
Tempur Sealy International Inc 9,252.44 4,905.20 361.60 7,200
Amazon com Inc 1,960,612.50 590,740.00 37,684.00 1,608,000
SUBTOTAL 3,722,351.15 2,129,038.04 150,703.63 5,937,200


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