vra-q32015


 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM 8-K/A
(Amendment No. 1)
___________________________
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 11, 2014
___________________________ 
VERA BRADLEY, INC.
(Exact name of registrant as specified in its charter)
___________________________
 
Indiana
 
001-34918
 
27-2935063
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
 
12420 Stonebridge Road,
Roanoke, Indiana
 
46783
(Address of Principal Executive Offices)
 
(Zip Code)
(877) 708-8372
(Registrant’s telephone number, including area code)
None
(Former name, former address and former fiscal year, if changed since last report)
___________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 
 
 
o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
 
 
 
o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
 
 
 
o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 





Item 9.01 Financial Statements and Exhibits
A Supplemental Statements of Income Fiscal 2014 schedule was included in the Form 8-K (as Exhibit 99.1) previously filed on December 10, 2014. The attached updated Supplemental Statements of Income Fiscal 2014 schedule has been adjusted for the reclassification of facility fee interest expense (related to the Company’s revolving credit agreement) from selling, general and administrative expenses to interest expense to conform with the current year income statement presentation.
(d) Exhibits
99.1
 
Supplemental Statements of Income Fiscal 2014






SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
 
 
 
 
 
 
 
Vera Bradley, Inc.
 
 
 
 
(Registrant)
 
 
 
Date: December 11, 2014
 
 
 
/s/ Kevin J. Sierks
 
 
 
 
Kevin J. Sierks
Executive Vice President – Chief Financial Officer



EX-99.1 2014.12.10


Exhibit 99.1

Vera Bradley, Inc.
Supplemental Statements of Income Fiscal 20141 
(in thousands, except per share amounts)
(unaudited)
 
 
Thirteen Weeks Ended
 
Fifty-Two Weeks Ended
 
 
May 4,
2013
 
August 3,
2013
 
November 2,
2013
 
February 1,
2014
 
February 1,
2014
Net revenues
 
$
121,559

 
$
123,969

 
$
128,949

 
$
156,419

 
$
530,896

Cost of sales
 
54,085

 
53,105

 
57,710

 
73,784

 
238,683

Gross profit
 
67,474

 
70,864

 
71,239

 
82,635

 
292,213

Selling, general, and administrative expenses
 
54,015

 
47,111

 
47,565

 
52,540

 
201,232

Other income
 
1,951

 
630

 
1,027

 
1,168

 
4,776

Operating income from continuing operations
 
15,410

 
24,383

 
24,701

 
31,263

 
95,757

Interest expense, net
 
204

 
127

 
139

 
101

 
571

Income from continuing operations before income taxes
 
15,206

 
24,256

 
24,562

 
31,162

 
95,186

Income tax expense
 
5,860

 
9,034

 
8,905

 
11,258

 
35,057

Income from continuing operations
 
9,346

 
15,222

 
15,657

 
19,904

 
60,129

Discontinued operations, net of income taxes
 
(157
)
 
(271
)
 
(431
)
 
(458
)
 
(1,317
)
Net income
 
$
9,189

 
$
14,951

 
$
15,226

 
$
19,446

 
$
58,812

Basic weighted-average shares outstanding
 
40,580

 
40,603

 
40,605

 
40,606

 
40,599

Diluted weighted-average shares outstanding
 
40,624

 
40,623

 
40,652

 
40,694

 
40,648

Net income (loss) per share - basic
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.23

 
$
0.37

 
$
0.39

 
$
0.49

 
$
1.48

Discontinued operations
 

 
(0.01
)
 
(0.01
)
 
(0.01
)
 
(0.03
)
Net income
 
$
0.23

 
$
0.37

 
$
0.37

 
$
0.48

 
$
1.45

Net income (loss) per share - diluted
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.23

 
$
0.37

 
$
0.39

 
$
0.49

 
$
1.48

Discontinued operations
 

 
(0.01
)
 
(0.01
)
 
(0.01
)
 
(0.03
)
Net income
 
$
0.23

 
$
0.37

 
$
0.37

 
$
0.48

 
$
1.45

 
 
 
 
 
 
 
 
 
 
 
1On June 4, 2014, the Company entered into a five-year agreement with Mitsubishi Corporation and Look Inc. to import and distribute Vera Bradley products in Japan. As a result of moving to this wholesale business model, the Company exited its direct retail business in Japan in the third quarter. The supplemental schedule provided above recasts the Company's four quarters and year-to-date fiscal 2014 income statements to present the Japan results as discontinued operations.