View Filing Data

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jul. 30, 2011	Sep. 12, 2011
Document And Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 30, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q2
Entity Registrant Name	Vera Bradley, Inc.
Entity Central Index Key	0001495320
Current Fiscal Year End Date	--01-28
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		40,506,670

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 30, 2011	Jan. 29, 2011
Assets
Cash and cash equivalents	$ 788	$ 13,953
Accounts receivable, net	44,719	34,300
Inventories, net	118,105	96,717
Prepaid expenses and other current assets	7,246	6,754
Deferred income taxes	9,739	8,743
Total current assets	180,597	160,467
Property, plant, and equipment, net of accumulated depreciation and amortization of $37,246 and $32,808, respectively	45,049	42,984
Other assets	1,084	2,588
Total assets	226,730	206,039
Liabilities and Shareholders' Equity
Accounts payable	30,924	30,012
Accrued employment costs	11,960	17,892
Other accrued liabilities	12,934	10,551
Income taxes payable	405	10,010
Current portion of long-term debt	86	83
Total current liabilities	56,309	68,548
Long-term debt	71,590	66,934
Deferred income taxes	3,971	3,300
Other long-term liabilities	4,869	2,935
Total liabilities	136,739	141,717
Commitments and contingencies (Note 10)
Shareholders' equity:
Preferred stock; July 30, 2011, and January 29, 2011 - 5,000,000 shares authorized, no shares issued or outstanding
Common stock, without par value; July 30, 2011, and January 29, 2011 - 200,000,000 shares authorized, 40,506,670 shares issued and outstanding
Additional paid-in-capital	72,661	71,923
Retained earnings (accumulated deficit)	17,256	(7,601)
Accumulated other comprehensive income	74
Total shareholders' equity	89,991	64,322
Total liabilities and shareholders' equity	$ 226,730	$ 206,039

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 30, 2011	Jan. 29, 2011
Consolidated Balance Sheets
Accumulated depreciation and amortization, property, plant, and equipment	$ 37,246	$ 32,808
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, without par value
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	40,506,670	40,506,670
Common stock, shares outstanding	40,506,670	40,506,670

- Definition

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

+ References + Details

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements Of Income - USD ($) $ in Thousands	Jul. 30, 2011	Jul. 31, 2010	Jul. 30, 2011	Jul. 31, 2010
Consolidated Statements Of Income
Net revenues	$ 103,789	$ 80,076	$ 205,179	$ 165,078
Cost of sales	44,161	33,252	89,107	69,441
Gross profit	59,628	46,824	116,072	95,637
Selling, general, and administrative expenses	39,120	38,697	79,109	72,585
Other income	2,418	1,536	5,023	3,912
Operating income	22,926	9,663	41,986	26,964
Interest expense, net	329	336	645	644
Income before income taxes	22,597	9,327	41,341	26,320
Income tax expense	8,964	157	16,484	356
Net income	$ 13,633	$ 9,170	$ 24,857	$ 25,964
Basic weighted-average shares outstanding	40,506,670	35,440,547	40,506,670	35,440,547
Diluted weighted-average shares outstanding	40,541,467	35,440,613	40,536,818	35,440,580
Basic net income per share	$ 0.34	$ 0.26	$ 0.61	$ 0.73
Diluted net income per share	$ 0.34	0.26	$ 0.61	0.73
Basic distributions per share		$ 0.17		$ 0.54
Pro forma income information (Notes 1 and 6):
Income before income taxes		$ 9,327		$ 26,320
Pro forma income tax expense		3,731		10,528
Pro forma net income		$ 5,596		$ 15,792
Pro forma basic weighted-average shares outstanding		35,440,547		35,440,547
Pro forma diluted weighted-average shares outstanding		35,440,613		35,440,580
Pro forma basic net income per share		$ 0.16		$ 0.45
Pro forma diluted net income per share		$ 0.16		$ 0.45

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 30, 2011	Jul. 31, 2010
Cash flows from operating activities
Net income	$ 24,857	$ 25,964
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization of property, plant, and equipment	4,461	4,131
Provision for doubtful accounts	75	(58)
Loss on disposal of property, plant, and equipment		274
Stock-based compensation	662	87
Deferred income taxes	(325)
Changes in assets and liabilities:
Accounts receivable	(10,495)	5,289
Inventories	(21,388)	(18,263)
Other assets	1,012	(881)
Accounts payable	583	1,538
Accrued and other liabilities	(11,220)	4,970
Net cash provided by (used in) operating activities	(11,778)	23,051
Cash flows from investing activities
Purchases of property, plant, and equipment	(6,526)	(4,795)
Net cash used in investing activities	(6,526)	(4,795)
Cash flows from financing activities
Payments on financial-institution debt	(12,000)	(25,900)
Borrowings on financial-institution debt	16,700	28,900
Payments on vendor-financed debt	(40)	(14)
Change in bank overdraft	329
Payments of distributions		(20,159)
Other	76
Net cash provided by (used in) financing activities	5,065	(17,173)
Effect of exchange rate changes on cash and cash equivalents	74
Increase (decrease) in cash and cash equivalents	(13,165)	1,083
Cash and cash equivalents, beginning of period	13,953	6,509
Cash and cash equivalents, end of period	$ 788	$ 7,592

Description Of The Company And Basis Of Presentation

6 Months Ended

Jul. 30, 2011

Description Of The Company And Basis Of Presentation

Description Of The Company And Basis Of Presentation

1.	Description of the Company and Basis of Presentation

Vera Bradley, Inc. was formed as an Indiana corporation on June 23, 2010, for the purpose of reorganizing the corporate structure of Vera Bradley Designs, Inc. On October 3, 2010, the shareholders of Vera Bradley Designs, Inc. contributed all of their shares of Class A Voting Common Stock and Class B Non-Voting Common Stock of Vera Bradley Designs, Inc. to Vera Bradley, Inc. in return for shares of Vera Bradley, Inc. Class A Voting Common Stock and Class B Non-Voting Common Stock on a one-for-one basis. In addition, effective October 3, 2010, Vera Bradley Designs, Inc. converted from an "S" Corporation to a "C" Corporation for income tax purposes. Further, on October 18, 2010, Vera Bradley, Inc. recapitalized all of its Class A Voting Common Stock and Class B Non-Voting Common Stock into a single class of common stock and effectuated a 35.437-for-1 stock split of all outstanding shares of its common stock. These events collectively are referred to as the "Reorganization." As a result of the Reorganization, Vera Bradley Designs, Inc. became a wholly-owned subsidiary of Vera Bradley, Inc. Except where context requires or where otherwise indicated, the terms "Company" and "Vera Bradley" refer to Vera Bradley Designs, Inc. and its subsidiaries before the Reorganization and to Vera Bradley, Inc. and its subsidiaries, including Vera Bradley Designs, Inc., after the Reorganization. All historical common stock and per share common stock information has been changed to reflect the stock split.

Vera Bradley is a leading designer, producer, marketer, and retailer of stylish, highly functional accessories for women. The Company's products include a wide offering of handbags, accessories, and travel and leisure items. The Company generates net revenues by selling products through two reportable segments: Indirect and Direct. The Indirect business consists of sales of Vera Bradley products to approximately 3,300 independent retailers, substantially all of which are located in the United States, as well as select national retailers and third-party e-commerce sites. The Direct business consists of sales of Vera Bradley products through the Company's full-price, outlet, and Japanese pop-up stores, its websites, verabradley.com and verabradley.co.jp, and its annual outlet sale in Fort Wayne, Indiana. As of July 30, 2011, the Company operated 43 full-price stores and six outlet stores.

The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("GAAP") have been omitted. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended January 29, 2011, filed with the SEC.

The interim financial statements reflect all adjustments that are, in the opinion of management, necessary to present fairly the results for the interim periods presented. All such adjustments are of a normal, recurring nature. The results of operations for the thirteen weeks ended July 30, 2011, are not necessarily indicative of the results to be expected for the full fiscal year.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The Company has eliminated intercompany balances and transactions in consolidation.

Fiscal Periods

The Company's fiscal year ends on the Saturday closest to January 31. References to the fiscal quarters ended July 30, 2011, and July 31, 2010, refer to the thirteen-week periods ended on those dates.

Reclassifications

Certain prior-year amounts have been reclassified to conform to the current-year presentation.

Pro Forma Income Statement Information

Prior to the Reorganization, the Company was taxed as an "S" Corporation for purposes of federal and state income taxes. Accordingly, each of the Company's shareholders was required to include his or her portion of the Company's taxable income or loss on his or her federal and state income tax returns. As part of the Reorganization, the Company's "S" Corporation status automatically terminated and the Company became subject to increased taxes.

The unaudited pro forma income statement information for the thirteen and twenty-six weeks ended July 31, 2010, gives effect to an adjustment for income tax expense as if the Company had been a "C" Corporation as of the beginning of the fiscal year ended January 29, 2011, at an assumed combined federal, state, and local effective tax rate of 40.0%.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Name Statement of Position (SOP)
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-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Name FASB Interpretation (FIN)
-Publisher FASB
-Number 46R
-Paragraph 4, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Earnings Per Share

6 Months Ended

Jul. 30, 2011

Earnings Per Share

Earnings Per Share

2.	Earnings Per Share

Net income per share is computed under the provisions of ASC 260, Earnings Per Share. Basic net income per share is computed based on the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed based on the weighted-average number of common shares plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares represent outstanding restricted stock units. The components of basic and diluted net income per share were as follows ($ in thousands, except per share amounts):


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2011		July 31, 2010		July 30, 2011		July 31, 2010
Numerator:
Net income	$	13,633	$	9,170	$	24,857	$	25,964

Denominator:
Weighted-average number of common shares (basic)		40,506,670		35,440,547		40,506,670		35,440,547
Dilutive effect of stock-based awards		34,797		66		30,148		33

Weighted-average number of common shares (diluted)		40,541,467		35,440,613		40,536,818		35,440,580


Earnings per share:
Basic	$	0.34	$	0.26	$	0.61	$	0.73

Diluted	$	0.34	$	0.26	$	0.61	$	0.73

Fair Value Of Financial Instruments

6 Months Ended

Jul. 30, 2011

Fair Value Of Financial Instruments

Fair Value Of Financial Instruments

3.	Fair Value of Financial Instruments

The carrying amounts reflected on the consolidated balance sheets for cash and cash equivalents, receivables, prepaid expenses and other current assets, debt, and payables as of July 30, 2011, and January 29, 2011, approximated their fair values.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Inventories

6 Months Ended

Jul. 30, 2011

Inventories

Inventories

4.	Inventories

The components of inventories were as follows (in thousands):


	July 30, 2011		January 29, 2011
Raw materials, net	$	13,531	$	9,695
Work in process, net		863		829
Finished goods, net		103,711		86,193

Total inventories, net	$	118,105	$	96,717

Long-Term Debt

6 Months Ended

Jul. 30, 2011

Long-Term Debt

Long-Term Debt

5.	Long-Term Debt

Long-term debt consisted of the following as of July 30, 2011, and January 29, 2011 (in thousands):


	July 30, 2011		January 29, 2011
Amended and restated credit agreement	$	71,450	$	66,750
Vendor-financed debt		226		267

		71,676		67,017

Less: Current maturities		86		83

	$	71,590	$	66,934

At July 30, 2011, the weighted-average interest rate on outstanding borrowings under the Company's $125 million amended and restated credit agreement was 1.2749%, and the Company had borrowing availability of $53.6 million under the agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Income Taxes

6 Months Ended

Jul. 30, 2011

Income Taxes

Income Taxes

6.	Income Taxes

Prior to October 3, 2010, Vera Bradley Designs, Inc. was taxed as an "S" Corporation for federal income tax purposes under Section 1362 of the Internal Revenue Code, and therefore was not subject to federal and state income taxes (subject to exception in a limited number of state and local jurisdictions that do not recognize the "S" Corporation status). On October 3, 2010, as part of the Reorganization, the Company's "S" Corporation status automatically terminated and the Company became subject to corporate-level federal and state income taxes at prevailing corporate rates.

The provision for income taxes for interim periods is based on an estimate of the annual effective tax rate adjusted to reflect the impact of discrete items. Significant management judgment is required in projecting ordinary income (loss) to estimate the Company's annual effective tax rate.

The effective tax rate for the thirteen weeks ended July 30, 2011, was 39.6%, compared to 1.7% for the thirteen weeks ended July 31, 2010. The increase in the effective tax rate resulted primarily from the Company's conversion to a "C" Corporation in connection with its initial public offering in October 2010. The Company's effective tax rate for the thirteen weeks ended July 30, 2011, was negatively impacted by the net operating loss incurred by the Company's recently formed Japanese subsidiary, for which no tax benefit was recorded. The valuation allowance recorded against the deferred tax asset arising from the net operating loss of the Company's Japanese subsidiary increased the effective tax rate by 1.9% for the thirteen weeks ended July 30, 2011.

The effective tax rate for the twenty-six weeks ended July 30, 2011, was 39.9%, compared to 1.4% for the twenty-six weeks ended July 31, 2010. The increase in the effective tax rate resulted primarily from the Company's conversion to a "C" Corporation in connection with its initial public offering in October 2010. The Company's effective tax rate for the twenty-six weeks ended July 30, 2011, was negatively impacted by the non-deductibility of expenses related to the April 2011 secondary offering and by the net operating loss incurred by the Company's recently formed Japanese subsidiary, for which no tax benefit was recorded. The non-deductibility of the secondary offering expenses increased the effective tax rate by approximately 0.5% for the twenty-six weeks ended July 30, 2011. The secondary offering expenses were recorded as a discrete event in the effective tax rate in the thirteen weeks ended April 30, 2011. The valuation allowance recorded against the deferred tax asset arising from the net operating loss of the Company's Japanese subsidiary increased the effective tax rate by 1.5% for the twenty-six weeks ended July 30, 2011.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
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+ Details

Comprehensive Income

6 Months Ended

Jul. 30, 2011

Comprehensive Income

Comprehensive Income

7.	Comprehensive Income

The components of comprehensive income were as follows (in thousands):


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2011		July 31, 2010		July 30, 2011		July 31, 2010
Net income	$	13,633	$	9,170	$	24,857	$	25,964

Foreign translation		74		—		74		—

Comprehensive income	$	13,707	$	9,170	$	24,931	$	25,964

- Definition

The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6522872

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+ Details

Stock-Based Compensation

6 Months Ended

Jul. 30, 2011

Stock-Based Compensation

Stock-Based Compensation

8.	Stock-Based Compensation

The Company accounts for stock-based compensation under the fair-value recognition provisions of ASC 718, Stock Compensation. Under these provisions, for its awards of restricted stock and restricted stock units, the Company recognizes share-based compensation expense in an amount equal to the fair market value of the underlying stock on the grant date of the respective award. This expense, net of estimated forfeitures, is recognized on a straight-line basis over the requisite service period.

The Company has reserved 6,076,001 shares of common stock for issuance or transfer under the 2010 Equity and Incentive Plan, which allows for grants of restricted stock units as well as other equity awards.

Awards of Restricted Stock Units

During the thirteen weeks ended July 30, 2011, the Company granted a total of 3,213 restricted stock units with an aggregate fair value of $0.1 million to certain employees under the 2010 Equity and Incentive Plan. During the thirteen weeks ended April 30, 2011, the Company granted a total of 106,889 restricted stock units with an aggregate fair value of $4.4 million to certain employees and non-employee directors under the 2010 Equity and Incentive Plan. These restricted stock units vest and settle in shares of the Company's common stock, on a one-for-one basis, in equal installments on each of the first three anniversaries of the grant date. The Company is recognizing the expense relating to these awards, net of estimated forfeitures, on a straight-line basis over three years. The Company determined the fair value of the awards based on the closing price of the Company's common stock on the grant date.

The following table sets forth a summary of restricted stock unit activity for the period ended July 30, 2011:


	Number of Units			Weighted- Average Grant Date Fair Value (per unit)
Nonvested units outstanding at January 29, 2011		54,225		$	16.00
Granted		110,102			41.29
Vested		—			—
Forfeited		(7,262	)		28.88

Nonvested units outstanding at July 30, 2011		157,065		$	33.13

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
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-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

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+ Details

Related-Party Transactions

6 Months Ended

Jul. 30, 2011

Related-Party Transactions

Related-Party Transactions

9.	Related-Party Transactions

In June 2011, the Company sold certain life insurance policies on the lives of its founders, who are also directors and officers of the Company, to the insureds at the fair market value of $0.7 million. The cash surrender value of the policies was $0.6 million, resulting in a $0.1 million gain. The cash surrender value was included in other assets prior to the sale and the gain on the sale was recorded in other income. Other life insurance policies not purchased by the insureds were terminated.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 04
-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
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+ Details

Commitments And Contingencies

6 Months Ended

Jul. 30, 2011

Commitments And Contingencies

Commitments And Contingencies

10.

Commitments and Contingencies

The Company is subject to various claims and contingencies arising in the normal course of business, including those relating to product liability, legal, employee benefit, environmental, and other matters. Management believes that the likelihood is remote that any of these claims will have a material adverse effect on the Company's financial condition, results of operations, or cash flows.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
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-Name Statement of Financial Accounting Standard (FAS)
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+ Details

Segment Reporting

6 Months Ended

Jul. 30, 2011

Segment Reporting

Segment Reporting

11.

Segment Reporting

The Company has two operating segments, which are also its reportable segments: Indirect and Direct. These operating segments are components of the Company for which separate financial information is available and for which operating results are evaluated on a regular basis by the chief operating decision maker in deciding how to allocate resources and in assessing the performance of the segments.

The Indirect segment represents activity driven by revenues generated through the distribution of Company-branded products to approximately 3,300 independent retailers across the United States. The Direct segment includes the Company's full-price, outlet, and Japanese pop-up stores, e-commerce activity driven by the Company's websites, and the annual outlet sale. Revenues generated through this segment are driven by the sale of Company-branded products from Vera Bradley to end customers.

Corporate costs represent the Company's administrative expenses, which include, but are not limited to: human resources, legal, finance, IT, and various other corporate-level-activity-related expenses. All intercompany-related activities are eliminated in consolidation and are excluded from the segment reporting.

The chief operating decision maker evaluates segment operating results based on several indicators. The primary or key performance indicators for each segment are net revenues and operating income. The table below represents key financial information for each of the Company's reportable segments: Indirect and Direct (in thousands):


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	July 30, 2011			July 31, 2010			July 30, 2011			July 31, 2010
Segment net revenues:
Indirect	$	55,918		$	47,358		$	113,167		$	101,532
Direct		47,871			32,718			92,012			63,546

Total	$	103,789		$	80,076		$	205,179		$	165,078


Segment operating income:
Indirect	$	24,049		$	21,684		$	45,788		$	44,219
Direct		13,045			9,322			25,405			19,044

Total	$	37,094		$	31,006		$	71,193		$	63,263


Reconciliation:
Segment operating income	$	37,094		$	31,006		$	71,193		$	63,263
Less:
Unallocated corporate expenses		(14,168	)		(21,343	)		(29,207	)		(36,299	)

Operating income	$	22,926		$	9,663		$	41,986		$	26,964

Sales outside of the United States were insignificant.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details