Vera Bradley, Inc. (NASDAQ:VRA) Q3 2025 Results Conference Call December 11, 2024 9:30 AM ET

Company Participants

Mark Dely - Chief Administrative Officer
Jackie Ardrey - Chief Executive Officer
Michael Schwindle - Chief Financial Officer

Conference Call Participants

Eric Beder - SCC Research
Daniel Harriman - Sidoti & Company

Operator

Greetings. Welcome to the Vera Bradley Third Quarter Fiscal 2025 Earnings Conference Call. At this time all participants are in listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.

It is now market pleasure to introduce your host, Mark Dely, Chief Administrative Officer. Thank you, you may begin.

Mark Dely

Good morning and welcome everyone. I'd like to thank you for joining us for today's call. Some of the statements made during our prepared remarks in response to your questions may constitute forward-looking statements made pursuant to and within the meaning of the Safe Harbor provisions of the Private Securities litigation reform act of 1995 as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from those, that we expect.

Please refer to today's press release and the company's most recent Form 10-K filed with the SEC for a discussion of known risks and uncertainties. Investors should not assume that, the statements made during the call will remain operative at a later time. We undertake no obligation to update any information discussed on today's call.

I will now turn the call over to Vera Bradley CEO, Jackie Ardrey, Jackie?

Jackie Ardrey

Thanks, Mark. Good morning, everyone and thank you for joining us on today's call. The third quarter was extremely challenging, as we remained in the early stages of project restoration, our strategic initiative to transform our business model and transition Vera Bradley's brand positioning.

We have made meaningful adjustments to our assortment and value proposition, in response to customer feedback. With the current consumer mindset focused on value, we have more work ahead of us, on our repositioning journey that I will talk to you later. I am pleased to report that, we're seeing steady progress with several green shoots late in third quarter, which have continued into the fourth quarter to date.

We have modestly adjusted our promotional strategy to deliver an improved value proposition and are seeing better results, but we remain committed to driving shareholder value, through improved brand resonance and reduction of low-margin revenue. With the launch of our holiday assortments late in third quarter and the careful strategic promotional adjustments we executed, we experienced a steady trend line improvement across the majority of our Vera Bradley direct-to-consumer channels. We are seeing strong customer response to heritage prints, key giftable price point products and continued success in elevated price point offerings like leather.