Latest news with #Bickley
Yahoo
3 days ago
- Business
- Yahoo
Vera Bradley CEO, CFO to Exit, Board Creates ‘Transformation' Committee
There's been a shake-up at Vera Bradley. The Fort Wayne, Ind.-based women's accessories brand is parting ways with its chief executive officer and creating what it termed 'a comprehensive strategic initiative to transform the company's business model and brand positioning.' More from WWD Lulu Frost's Lisa Salzer Discusses Importance of Providing Joy With Everyday Luxuries The Top 10 Designer Bags Deals From Nordstrom's Memorial Day Sale to Upgrade Your Summer Basics EXCLUSIVE: Trellis Health Raises $1.8 Million in Pre-seed Round Ahead of Launch On Wednesday, the company said Jacqueline Ardrey, who joined as CEO in November 2022, would be exiting the business. Vera Bradley is searching for a successor and Ardrey will remain through the end of July to aid in the transition. Ardrey, whose background includes president of home furnishings retailer Grandin Road and CEO of Trading Company Holdings, had instituted Project Restoration shortly after joining Vera Bradley that apparently failed to take hold. At the same time, Ian Bickley, a current member of the board, will assume the role of executive chairman on July 7, a new position that will 'provide leadership and guidance during the CEO transition,' the company said. Bickley, who has served as president of Coach's international group as well as interim CEO of the Body Shop, will also become chairman of the board, succeeding Robert Hall, who will step down from that role but remain on the board. Bickley's executive chairman post is expected to be temporary until a new CEO is appointed, the company said. 'Since joining the board, Ian has demonstrated a strong command of our industry in addition to the challenges of Vera Bradley's ongoing transformation,' Hall said Wednesday. 'I am grateful for Mr. Bickley's willingness to lend his extensive expertise, including in turnaround situations, to take on an executive leadership role during the CEO transition. I also want to thank Jackie for her dedication in helping position Vera Bradley for its next chapter in its transformation journey.' Additionally, the company has hired a new chief financial officer, Martin Layding, who will join Thursday. Layding has served as a CFO in various organizations including as divisional CFO for Tapestry's Coach brand in addition to several private equity backed firms, including Supreme. The current CFO, Michael Schwindle, will leave the company on June 30 and work with Layding during the transition period. In addition to the personnel changes, the board has established a strategy and transformation committee to work with the new leadership team on future growth. The committee will be co-led by Bickley and director Andrew Meslow, whose background includes CEO of Bath & Body Works and L Brands, who will now assume the role of lead independent director for Vera Bradley. The changes were revealed at the same time Vera Bradley reported disappointing first-quarter results with net losses ballooning to $33.5 million from $8.1 million in the year-ago period and losses from continuing operations more than doubling to $18.3 million from $7.6 million in the prior year. In March, the company entered into an agreement to sell its Creative Genius Inc. division, which operates under the name Pura Vida Bracelets, to Project Aster Acquisition for $1 million in cash. Vera Bradley had acquired a 75 percent stake in Pura Vida, which at the time had sales of $68.3 million, in June of 2019 for $75 million. Sales from continuing operations fell to $51.7 million from $67.9 million in the first quarter of the prior year. By division, Vera Bradley Direct slipped into the red in the period with operating losses of $5.5 million compared to operating income of $4 million the prior year. Revenues in this division fell 23.6 percent to $43.1 million from $56.4 million in the prior year's first quarter. Comparable-store sales dropped 25 percent. The operating income for the company's 'indirect,' or wholesale, division was $2 million, compared to $3.8 million the prior year on a 25.6 percent decline in revenue to $8.6 million from $11.5 million the year before. In a statement Wednesday, outgoing CEO Ardrey said: 'Our first-quarter results were disappointing as top-line and profitability trends from the previous several quarters continued. In addition to addressing consumer feedback on product styles and functionality from last summer's relaunch, we remain committed to 'being where she shops' and are working on diversification of our wholesale partnerships. While there is significant work to be done on many fronts in order to return the company's results to a stable and positive growth story, the teams are committed to doing just that.' As a result of the management changes and the 'significant uncertainty surrounding the consumer enviroment,' the company did not provide forward guidance. Vera Bradley was founded in 1982 and is a manufacturer of women's handbags, luggage, travel items, fashion and home accessories and gifts. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Yahoo
4 days ago
- Business
- Yahoo
Vera Bradley Announces Management and Board Leadership Changes
CEO Jackie Ardrey will be departing the Company Ian Bickley will assume the role of Executive Chairman Martin Layding is joining the Company as Chief Financial Officer New Board Strategy and Transformation Committee Established FORT WAYNE, Ind., June 11, 2025 (GLOBE NEWSWIRE) -- Vera Bradley (Nasdaq: VRA) (the 'Company') today announced that its Chief Executive Officer, Jacqueline Ardrey is leaving the Company. The Board of Directors has launched a national search for Ms. Ardrey's replacement. She will remain with the Company to aid in the transition until the end of July. Ms. Ardrey joined the Company in November 2022 and launched Project Restoration, a comprehensive strategic initiative to transform the Company's business model and brand positioning. 'I want to thank the Board and our amazing associates for their support and look forward to seeing Vera Bradley's growth journey ahead,' Ardrey said on her departure. As a part of the announced leadership changes, Ian Bickley is assuming the role of Executive Chairman effective July 7, 2025. In this newly created role, Mr. Bickley will be taking an interim executive role to provide leadership and guidance during the CEO transition and will also be the chairman of the Board of Directors of the Company. The executive chairman role is expected to be a temporary role during the CEO transition. Mr. Bickley has extensive executive experience serving in numerous roles with Coach, including as President of the Company's International Group. He also served as Interim CEO of the Body Shop where he helped complete a successful sale of the Company. Mr. Bickley also serves on the Crocs and Brilliant Earth Boards. As a part of Mr. Bickley taking on the Executive Chairman role, current Board Chairman Robert Hall will be stepping down from the chairman role and will continue to serve as a Director on the Board. In announcing these changes, Mr. Hall remarked that 'Since joining the Board, Ian has demonstrated a strong command of our industry in addition to the challenges of Vera Bradley's ongoing transformation. I am grateful for Mr. Bickley's willingness to lend his extensive expertise, including in turnaround situations, to take on an executive leadership role during the CEO transition. I also want to thank Jackie for her dedication in helping position Vera Bradley for its next chapter in its transformation journey.' Additionally, the Company announced that it has hired a new Chief Financial Officer, Martin 'Marty' Layding who will assume the role of CFO beginning June 12, 2025. Mr. Layding has served as a CFO in various organizations including as divisional CFO for Tapestry's Coach brand in addition to CFO roles at several private equity backed firms, including for the Supreme Brand. Current Chief Financial Officer Michael Schwindle has announced his departure from the Company, effective June 30, 2025, and will work closely with Mr. Layding during the transition period to ensure continuity of operations. The Board has also established a new Strategy and Transformation Committee to work closely with incoming leadership in shaping the Company's strategic direction and future growth initiatives. The Committee is co-led by Mr. Bickley and Director Andrew Meslow, who also has significant executive experience, most recently as the CEO of Bath & Body Works and L Brands. Mr. Meslow will also be assuming the role of Lead Independent Director of the Company. Mr. Bickley remarked about the announced changes 'I look forward to continuing the Company's transformation. I will be working closely with the Strategy and Transformation Committee and our new CEO to refine our strategy and drive acceleration of the Company's transformation.' Today the Company also released financial results for the first quarter of fiscal 2026, which can be found on the investor relations website at About Vera Bradley, Inc. 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. The Company has two reportable segments: Vera Bradley Direct ('VB Direct') and Vera Bradley Indirect ('VB Indirect'). The VB Direct business consists of sales of Vera Bradley products through Vera Bradley Full-Line and Outlet stores in the United States; Vera Bradley's websites, and and the Vera Bradley annual outlet sale in Fort Wayne, Indiana. The VB Indirect business consists of sales of Vera Bradley products to approximately 1,200 specialty retail locations throughout the United States, as well as select department stores, national accounts, third party e-commerce sites, and third-party inventory liquidators, and royalties recognized through licensing agreements related to the Vera Bradley brand. Website Information We routinely post important information for investors on our website in the "Investor Relations" section. We intend to use this webpage as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our webpage is not incorporated by reference into, and is not a part of, this document. 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 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 pandemics or other macro factors. 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 February 1, 2025. We undertake no obligation to publicly update or revise any forward-looking statement. Financial schedules are attached to this release. CONTACT: CONTACTS: Investors: Tom Filandro, Partner ICR, Inc VeraBradleyIR@ Media: mediacontact@ 877-708-VERA (8372)
BBC News
28-01-2025
- Climate
- BBC News
Aspatria family say 'cooking by candlelight is not romantic'
Families who lost power for a few days because of Storm Éowyn said living without heating, internet or lights was difficult. Shiona Bickley's home in Bromfield, near Aspatria, Cumbria, was disconnected from Friday until Monday evening and she spent the weekend with her two children by candlelight."Cooking by candlelight is not great fun - everybody thinks it's really romantic and after half an hour it's not," she North West (ENW) said it had dealt with a large number of faults during the weekend and fewer than 200 homes remained without power in the county on Tuesday morning. Ms Bickley said her children found it difficult not being able to communicate with their friends."The children were struggling emotionally with it, trying to play board games by candlelight is actually quite difficult, trying to read by candlelight is very difficult," she said. Welfare centre relief Ms Bickley went to her parents' house to do washing, cook meals and charge devices, but said the family was cold without heating at home."I've probably got a big electric bill coming from my parents," she without the internet, she said she was not aware of the welfare centres for those without power, until a friend used the cafe at Watchtree Nature Reserve, near Great Orton, west of Carlisle, which was one of 14 centres set up by manager Ryan Dobson said some staff had been left without power and wanted to come to work to get warm. "My first question to them in the morning was: 'are you alright to do this?' and they told me it's warmer here than it is at home," Mr Dobson said. "All credit to our staff and volunteers in what they've done to help other people out - it really speaks volumes." Complex power faults Chris Cutts, of Bromfield, was able to access the internet thanks to cafe staff. He said: "The temperatures dropped, it was cold, I couldn't sleep at night - it was pretty horrific, actually."He added that being at the centre was "respite from sitting at home in the cold". Speaking on BBC Radio Cumbria's Mike Zeller at Breakfast Rachael Parr, director at ENW, said the company had kept in touch with its customers throughout the she urged anyone who may be vulnerable to sign up to its extra support register for help during power cuts. "The challenge during this particular storm was that we had a high number of different faults, all with complex engineering requirements," she added that although extra support came in from workers and contractors from other areas, many resources were diverted to Ireland, which was was especially badly battered in the storm.
