Vera Bradley, Inc. Shares Fiscal Year 2022 Corporate Responsibility and Sustainability Update
FORT WAYNE, Ind., April 28, 2022 (GLOBE NEWSWIRE) -- Vera Bradley, Inc. (Nasdaq: VRA) (the “Company”) today provided an update to its commitment to be a positive force in the environmental, social and governance (“ESG”) movement.
Vera Bradley, Inc., parent company to lifestyle brands Vera Bradley and Pura Vida, promotes a culture of diversity, inclusion, equity and fairness and is steadfastly focused on creating a future that is more sustainable for all of its stakeholders—customers, associates, shareholders, and communities alike. The Company strives to be a great place to work, shop and invest by ensuring good governance, caring for people and caring for the planet.
During fiscal year 2022, some of Vera Bradley, Inc.’s notable corporate responsibility and sustainability accomplishments included:
- Transparently engaging with the investment community and fostering good corporate governance practices;
- Strengthening its internal ESG infrastructure and initiatives by adding Enterprise Integrity and Enterprise Sustainability Groups to the organization;
- Boosting Board diversity by adding Briogeo founder and CEO Nancy Twine to the Vera Bradley, Inc. Board of Directors;
- Maintaining 60% female Board of Directors’ composition, making the Company part of the 8% of Russell 3000 Index companies with gender-balanced boards;
- Receiving the #1 ranking on the Forbes list of America’s Best Midsize Employers 2022;
- Supporting the communities the Company serves around the world through charitable efforts including Pura Vida’s Charity Bracelet Program and Vera Bradley’s Foundation for Breast Cancer, among others;
- Founding the test retail concept goodMRKT, a community of makers and creators selling “goods that do good;”
- Significantly elevating efforts on responsible sourcing, sustainability, product safety, product circularity and climate change;
- Participating in the Higg BRM assessment and using the results as a tool to improve focus areas related to environmental and social impact; and
- Pura Vida being awarded the B Corporation Certification, a natural fit as the brand was founded to use business as a force for good.
“I want to thank our dedicated Associates and partners around the world for being devoted to our mission and commitment to making the world brighter through our ESG efforts, genuinely living our values and supporting each other and the communities in which we live and work, particularly during another challenging year. We have an extraordinary culture which has allowed us not only to persevere, but to also accomplish great things, even in the face of difficulties,” commented Rob Wallstrom, CEO of Vera Bradley, Inc.
For more information on Vera Bradley, Inc.’s ESG efforts and to read the Company’s Fiscal Year 2022 Corporate Responsibility and Sustainability Report, visit www.verabradley.com/esg.
About Vera Bradley, Inc.
Vera Bradley, Inc. operates two unique lifestyle brands – Vera Bradley and Pura Vida. Vera Bradley and Pura Vida are complementary businesses, both with devoted, emotionally-connected, and multi-generational female customer bases; alignment as casual, comfortable, affordable, and fun brands; positioning as “gifting” and socially-connected brands; strong, entrepreneurial cultures; a keen focus on community, charity, and social consciousness; multi-channel distribution strategies; and talented leadership teams aligned and committed to the long-term success of their brands.
Vera Bradley, based in Fort Wayne, Indiana, is a leading designer of women’s handbags, luggage and other travel items, fashion and home accessories, and unique gifts. Founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller, the brand is known for its innovative designs, iconic patterns, and brilliant colors that inspire and connect women unlike any other brand in the global marketplace.
In July 2019, Vera Bradley, Inc. acquired a 75% interest in Creative Genius, Inc., which also operates under the name Pura Vida Bracelets (“Pura Vida”). Pura Vida, based in La Jolla, California, is a digitally native, highly-engaging lifestyle brand founded in 2010 by friends Paul Goodman and Griffin Thall. Pura Vida has a differentiated and expanding offering of bracelets, jewelry, and other lifestyle accessories.
Vera Bradley Safe Harbor Statement
Certain statements in this release are "forward-looking statements" made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and are subject to various risks and uncertainties that may cause actual results to differ materially from those that we expected, including: possible adverse changes in general economic conditions and their impact on consumer confidence and spending; possible inability to predict and respond in a timely manner to changes in consumer demand; possible loss of key management or design associates or inability to attract and retain the talent required for our business; possible inability to maintain and enhance our brands; possible inability to successfully implement the Company’s long-term strategic plan; possible inability to successfully open new stores, close targeted stores, and/or operate current stores as planned; incremental tariffs or adverse changes in the cost of raw materials and labor used to manufacture our products; possible adverse effects resulting from a significant disruption in our distribution facilities; or business disruption caused by COVID-19 or other pandemics. Risks, uncertainties, and assumptions also include the possibility that Pura Vida acquisition benefits may not materialize as expected and that Pura Vida’s business may not perform as expected. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended January 28, 2022. We undertake no obligation to publicly update or revise any forward-looking statement.
Julia Bentley, VP of Investor Relations and Communications