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vra VERA BRADLEY INC . Vera Bradley Announces Second Quarter Fiscal Year 2022 Results September 1 , 2021 Consolidated net revenues totaled $ 147.0 million for the second quarter , an increase of 11.6 % over the prior year Company posted second quarter net income of $ 9.1 million , or $ 0.26 per diluted share ; excluding certain items , non - GAAP net income totaled $ 9.5 million , or $ 0.28 per diluted share Balance sheet remains strong , with cash , cash equivalents , and investments over $ 76 million , and no debt Management updates annual guidance for fiscal year ending January 29 , 2022 FORT WAYNE , Ind . , Sept. 01 , 2021 ( GLOBE NEWSWIRE ) -- Vera Bradley , Inc. ( Nasdaq : VRA ) today announced its financial results for the second quarter ended July 31 , 2021 . In this release , Vera Bradley , Inc. or " the Company " refers to the entire enterprise and includes both the Vera Bradley and Pura Vida brands . " Vera Bradley " on a stand - alone basis refers only to the Vera Bradley brand . Second Quarter Comments Rob Wallstrom , Chief Executive Officer of Vera Bradley , Inc. , noted , " We posted a consolidated year - over - year second quarter revenue increase of nearly 12 % . On a comparable basis , Vera Bradley was essentially back to its pre - pandemic Fiscal 2020 second quarter revenue level , and Pura Vida was up nearly 7 % over the second quarter of Fiscal 2020 . " Second quarter Vera Bradley brand revenues continued to improve as customers responded to product innovation , stores were fully operational , and sales of travel - related products rebounded , despite anniversarying exceptionally strong mask sales from the prior year . " Wallstrom continued , " However , we experienced two major factors that impacted our second quarter results . First , the Apple iOS 14.5 update negatively affected Pura Vida revenues , primarily due to the impact it had on the effectiveness of Facebook and Instagram advertising . The Facebook and Instagram platforms have been our primary marketing vehicles to drive sales , and Pura Vida has maintained a market - leading position , consistently ranking as the number - one engaged brand in the jewelry category on Instagram . Our team is working diligently to quickly diversify a portion of our marketing resources to other platforms , and consequently , we began to see Pura Vida direct - to - consumer sales volume build momentum throughout the balance of the second quarter and into the beginning of the third . We expect Pura Vida revenues will continue to rebound in the second half of the year . " Second , like much of the industry , at Vera Bradley , we continued to experience supply chain challenges and significantly increased freight and tariff expenses that put meaningful pressure on gross margin in the quarter . We expect these pressures to continue for the moderate term . " We were once again able to diligently manage our SG & A expenses , and our balance sheet and cash flow remained strong . " Looking Ahead " With our strong first quarter performance , Fiscal 2022 is off to a solid start , with year - to - date earnings well ahead of last year and even ahead of where we were in Fiscal 2020 , pre - pandemic , " Wallstrom added . " We realize we will continue to face certain headwinds and uncertainties for the balance of the year , but also know that both of our lifestyle brands have significant long - term growth opportunities ahead , well beyond their core product categories . We are on track and remain committed to our vision to be a purpose - driven , multi - lifestyle brand , high - growth company . " As a reminder , for Fiscal 2022 , the four key growth drivers for Vera Bradley , Inc. are : 1. Driving our digital - first strategy , by evolving the digital distribution of our products and further refining and utilizing digital experiences to serve our customers . This will be upported by continuously refining our technology , developing business process and technology platforms to improve agility , data - based decision making , customer centricity , and speed - to - market . 2. Enhancing our product innovation pipeline , collaborations , and category extensions to attract new customers and increase share of wallet with existing customers . 3. Building our community , through marketing and by creating an impactful , positive brand movement that not only enhances lives but deepens our customers ' brand loyalty . 4. Evolving our distribution channels , by focusing on future growth opportunities and addressing the drastically changing retail environment and the consumer marketplace . " Our strong cash position , debt - free balance sheet , and ability to generate free cash flow will allow us to continue to invest in both our Vera Bradley and Pura Vida brands and seek out appropriate acquisitions of other comfortable , affordable , purpose - driven brands over time . We have a vision for the future of our Company and a clear path to achieve this vision . Our team is focused , our balance sheet is solid , our brands are strong , and we are positioned for long - term growth , " Wallstrom concluded .