Vera Bradley, Inc. Shares Fiscal Year 2022 Corporate Responsibility and Sustainability Update
28 April 2022 - 11:00PM
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 StatementCertain
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.
CONTACTS:Investors:Julia Bentley, VP of
Investor Relations and Communicationsjbentley@verabradley.com (260)
207-5116
Media:
mediacontact@verabradley.com877-708-VERA (8372)
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