Vera Bradley reports first-quarter loss

(photo supplied / Visit Fort Wayne)

Fort Wayne-based luggage and handbag design company Vera Bradley reported a first-quarter loss Wednesday.

The company reports they lost $2.41-million, or 7 cents per diluted share. This year’s first-quarter loss is about $1-million more than last year’s.

The Journal Gazette reports the fiscal quarter ended on May 4, and does not include after-Christmas returns and sales.

Overall, Vera Bradley reports first-quarter revenues totaled $91-million, which is a 5% increase from the $86.6-million reported last year.

Vera Bradley CEO Rob Wallstrom says the company is focusing on expanding their customer base and increasing sales and profitability.