Vera Bradley Returns to Profitability in Q4, Names New CEO

Vera Bradley has reported a net income of $2.7 million in Q4, compared to a loss of $20 million the previous year. The company has appointed Ian Bickley as CEO and Martin Layding as COFO. Vera Bradley expects an operating loss improvement of 40% or better this fiscal year. The company's return to profitability and sequential improvements in the Direct channel have given it confidence in its Project Sunshine strategy.