VERA BRADLEY, INC. (NASDAQ:VRA) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD Disclosure
On November 29, 2018, the Company's Board of Directors authorized Company management to utilize up to $50 million of available cash to buy back the Company's own common shares beginning December 14, 2018 through December 2020. The Company’s prior $50 million share repurchase program was completed on November 27, 2018.
Under the share repurchase plan, the Company is authorized to repurchase, from time-to-time, outstanding common shares in the open market or in privately negotiated transactions. The timing and amount of share repurchases will be determined by the Company's management team based upon its evaluation of market conditions and other factors. The share repurchase plan may be suspended, modified or discontinued at any time, and the Company has no obligation to repurchase any amount of its common shares under the plan. The Company intends to make all repurchases and to administer the plan in accordance with applicable laws and regulatory guidelines, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended.
About VERA BRADLEY, INC. (NASDAQ:VRA)
Vera Bradley, Inc. is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. It offers an assortment of products, including bags, such as purses, totes and backpacks; accessories, such as wallets, wristlets, phone cases and technology accessories; travel and travel accessories, such as weekend bags, duffel bags and cosmetic bags, and home, such as mugs, tumblers and textiles, including aprons, beach towels, throw blankets and comforters. The Direct business consists of sales of Vera Bradley products through factory outlet stores in the United States, verabradley.com, direct-to-consumer eBay sales and its annual outlet sale in Fort Wayne, Indiana. The Indirect business sells Vera Bradley products to approximately 2,600 specialty retail locations, which are located in the United States, as well as department stores, national accounts and third party e-commerce sites.
