Vera Bradley Names Karen Peters EVP - Retail and Wholesale Sales
FORT WAYNE, Ind., June 3, 2014 (GLOBE NEWSWIRE) -- Vera Bradley, Inc.
(Nasdaq:VRA) ("Vera Bradley" or the "Company") today announced that Karen
Peters has been named Executive Vice President, Retail and Wholesale Sales.
Peters has 25 years of retail experience including multi-store management and
merchandising. Between February 2005 and March 2014, she served as Senior Vice
President, Director of Stores for Saks Fifth Avenue OFF 5TH, Saks Fifth
Avenue's outlet channel. Prior to joining OFF 5TH, Peters held key management
positions with Sears, Target, and Kohl's.
In her new role with Vera Bradley, Peters will oversee the Company's full-line
and factory outlet stores, the indirect channel (including the gift channel,
the Company's department store relationships and other current and emerging
indirect channels), store visual and store real estate. As key member of the
executive team, she will be responsible for developing and executing
strategies to drive revenue growth and improved business results.
Peters officially will be based out of the Company's New York office but will
split her time between New York, the Company's Fort Wayne headquarters and the
Company's stores and retail partners. She will report directly to Robert
Wallstrom, Chief Executive Officer.
Wallstrom noted, "During her tenure at OFF 5TH, Karen managed numerous new
store openings, relocations, and renovations; substantially improved customer
service metrics including conversion, checkout time, new customer
acquisitions, and e-mail capture; and effectively collaborated with the
merchandising and visual teams to elevate product assortments and in-store
visual presentations. Karen will be a real asset to the Company as we continue
to add new retail stores, expand our department store presence, and stabilize
our specialty gift channel."
About Vera Bradley, Inc.
Vera Bradley, Inc. is a leading designer of women's handbags and accessories,
luggage and travel items, eyewear, stationery and gifts. Founded in 1982 by
friends Barbara Bradley Baekgaard and Patricia R. Miller, the brand's iconic
designs and versatile styles offer women of all ages a colorful way to
accessorize. Vera Bradley offers a unique, multi-channel sales model as well
as a focus on service and a high level of engagement with fans. Fiscal 2014
net revenues totaled approximately $536 million. The Company's commitment to
breast cancer research continues to increase its reach through the Vera
Bradley Foundation for Breast Cancer. For more information about Vera Bradley
(Nasdaq:VRA), visit www.verabradley.com/mediaroom.
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 brand; possible
inability to successfully implement our growth strategies or manage our
growing business; possible inability to successfully open new stores as
planned; and possible inability to sustain levels of comparable-store sales.
For a discussion of these and other risks and uncertainties that could cause
actual results to differ materially from those contained in our
forward-looking statements, please refer to "Risk Factors" in Part I, Item 1A
of our Annual Report on Form 10-K for the fiscal year ended February 1, 2014.
We undertake no obligation to publicly update or revise any forward-looking
statement. Financial schedules are attached to this release.
Julia Bentley, VP of Investor Relations and Communications
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