Vera Bradley appoints Ian Bickley as CEO, returns to profitability

Vera Bradley Inc. (NASDAQ: VRA) appointed Ian Bickley as chairman and chief executive officer and Martin Layding as chief operating and financial officer, the company announced alongside fourth-quarter results.

Bickley served as executive chairman for eight months before the board's decision to name him permanent CEO. He previously held executive roles at Coach and served on boards including Crocs, Brilliant Earth and Natura.

The Fort Wayne, Indiana-based handbag and accessories company reported fourth-quarter net revenues of $84.9 million compared to $86.4 million in the prior year period. The company returned to profitability with net income from continuing operations of $2.7 million, or $0.09 per diluted share, versus a net loss of $20.0 million, or $0.72 per diluted share, in the prior year quarter.

For fiscal year 2026, consolidated net revenues totaled $269.7 million, down from $318.8 million in fiscal 2025. The company posted a net loss from continuing operations of $32.7 million, or $1.17 per diluted share, compared to a net loss of $33.4 million, or $1.15 per diluted share, in the prior year.

Direct segment revenues declined 2.6% to $74.5 million in the fourth quarter, while Indirect segment revenues increased 4.9% to $10.4 million. The company closed two underperforming full-line stores during the quarter.

Cash and cash equivalents totaled $18.5 million at year-end compared to $28.6 million at the prior fiscal year end. Total inventory was $76.0 million, down from $91.4 million in the prior year.

For fiscal 2027, the company provided guidance for sales in the range of $255 million to $270 million and expects operating loss improvement of 40% or better versus the prior year loss of $21.7 million on a non-GAAP basis.

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