Cover
Cover | 12 Months Ended |
Jan. 28, 2023 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | VERA BRADLEY, INC. |
Entity Central Index Key | 0001495320 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Jan. 28, 2023 | Jan. 29, 2022 | Jan. 30, 2021 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE DISCLOSURE Under rules adopted pursuant to the Dodd-Frank Act, we are required to disclose certain information about the relationship between The following table contains information pertaining to executive compensation actually paid and certain financial performance of the Company for our Principal Executive Officers (PEOs) and other NEOs (Non-PEO S-K. Value of Initial Fixed Fiscal Year Summary Compensation Summary Compensation Average Non-PEO (1) Average Non-PEO (1) Total Peer Group (2) GAAP (3) Adjusted 2023 $ 3,132,637 $ 4,447,579 $ 6,137,174 $ 3,394,118 $ 1,165,116 $ 561,342 $ 57.93 $ 70.25 $ (59.7) $ 0.24 (4) 2022 N/A N/A 3,072,544 1,973,870 1,006,028 789,228 82.57 96.33 17.8 0.66 (5) 2021 N/A N/A 2,708,765 3,280,195 823,565 919,605 88.20 97.80 8.7 0.63 (6) (1) The non-PEO (2) Represents the S&P 500 Apparel, Accessories, and Luxury Goods Index. (3) Refer to the Financial Results within the Proxy Summary of this document for an explanation of items impacting comparability of the GAAP net (loss) income for each of the years presented. (4) During fiscal 2023, the GAAP loss per share of $(1.90) was negatively impacted by $67.4 million of after-tax charges, or approximately $2.14 per share, including $40.6 million of goodwill and intangible asset impairment charges; $12.2 million of inventory adjustments associated with Pura Vida excess inventory and mask products, the exit of certain technology products, and discounted inventory, as well as PO cancellation fees; $7.4 million of severance, retention, and former CEO stock-based compensation charges associated with retirement; $3.3 million of consulting and professional fees primarily associated with cost savings initiatives, the CEO search, and strategic initiatives; $1.8 million for the amortization of definite-lived intangible assets; $1.0 million of store and right-of-use asset impairment charges; $0.8 million related to the new CEO sign-on bonus and relocation expenses; and $0.3 million of goodMRKT brand exit costs. (5) During fiscal 2022, GAAP diluted EPS of $0.52 was negatively impacted by $4.8 million of after-tax charges, or approximately $0.14 per share, including $3.0 million for incremental expense associated with the delayed renewal of GSP (Generalized System of Preferences) tariff relief and $1.8 million of charges related to the amortization of definite-lived intangible assets and store impairment charges. (6) Represents the annual EPS. For adjusted EPS associated with the fiscal 2021 tranche of the Company’s performance-based restricted stock units, Q2 to Q4 results were utilized as a result of the COVID-19 | ||
Company Selected Measure Name | adjusted EPS | ||
Named Executive Officers, Footnote [Text Block] | The non-PEO | ||
Peer Group Issuers, Footnote [Text Block] | Represents the S&P 500 Apparel, Accessories, and Luxury Goods Index. | ||
Adjustment To PEO Compensation, Footnote [Text Block] | CAP in the table above is calculated by adjusting the Summary Compensation For PEO, Ms. Ardrey: Fiscal Year SCT Total for Less: Grant Plus: Year-End Plus: Fair Value Plus (Less): Plus (Less): Less: Fair Total—CAP 2023 $ 3,132,637 $ (1,900,006) $ 3,214,948 $ — $ — $ — $ — $ 4,447,579 For PEO, Mr. Wallstrom: Fiscal Year SCT Total for Less: Grant Plus: Year-End Plus: Fair Value Plus (Less): Granted Plus (Less): Less: Fair Total—CAP 2023 $ 6,137,174 $ (1,399,998) $ 238,367 $ — $ (1,131,539) $ (84,689) $ (365,197 ) $ 3,394,118 2022 3,072,544 (1,649,992) 1,123,726 — (829,372) 256,964 — 1,973,870 2021 2,708,765 (1,400,004) 2,899,525 — (381,521) (546,570) — 3,280,195 | ||
Non-PEO NEO Average Total Compensation Amount | $ 1,165,116 | $ 1,006,028 | $ 823,565 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 561,342 | 789,228 | 919,605 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | For the average of non-PEO Fiscal Year SCT Total for Less: Grant Plus: Year-End Plus: Fair Value Plus (Less): Plus (Less): Less: Fair Total—CAP 2023 $ 1,165,116 $ (480,001) $ 264,943 $ — $ (204,610) $ (18,334) $ (165,772) $ 561,342 2022 1,006,028 (374,995) 255,396 — (197,453) 100,252 — 789,228 2021 823,565 (318,750) 660,160 — (132,393) (112,977) — 919,605 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Total Shareholder Return Vs Peer Group [Text Block] | |||
Tabular List [Table Text Block] | The following details an unranked list of the financial measures we believe measures Net Revenue Adjusted Operating Income Adjusted EPS | ||
Total Shareholder Return Amount | $ 57.93 | 82.57 | 88.2 |
Peer Group Total Shareholder Return Amount | 70.25 | 96.33 | 97.8 |
Net Income (Loss) | $ (59,700,000) | $ 17,800,000 | $ 8,700,000 |
Company Selected Measure Amount | 0.24 | 0.66 | 0.63 |
Goodwill and Intangible Asset Impairment Charges | $ 40,600,000 | ||
Severance and Retention Charges | 7,400,000 | ||
Consulting and Professional Fees | 3,300,000 | ||
Amortization | 1,800,000 | $ 1,800,000 | $ 4,800,000 |
Store and Rightofuse Asset Impairment Charges | 1,000,000 | 4,500,000 | |
Bonus and Relocation Expenses | 800,000 | ||
MRKT Brand Exit Costs | 300,000 | ||
Incremental expense | 3,000,000 | ||
Tax Charges | $ 67,400,000 | $ 4,800,000 | 12.7 |
Technology-related Replatforming Charges | 2,100,000 | ||
COVID-19 Related Charges | 1,100,000 | ||
Earnout Liability | $ 200,000 | ||
Restatement On Earnings Per Share | $ (1.9) | $ 0.52 | $ 0.26 |
Earnings Per Share | $ 2.14 | $ 0.14 | $ 0.38 |
Inventory | $ 12.2 | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Revenue | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Operating Income | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EPS | ||
Ms. Ardrey [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | $ 3,132,637 | ||
PEO Actually Paid Compensation Amount | $ 4,447,579 | ||
PEO Name | Ms. Ardrey | ||
Mr. Wallstrom [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | $ 6,137,174 | $ 3,072,544 | $ 2,708,765 |
PEO Actually Paid Compensation Amount | $ 3,394,118 | 1,973,870 | 3,280,195 |
PEO Name | Mr. Wallstrom | ||
PEO [Member] | Ms. Ardrey [Member] | Grant Date Fair Value of Equity Awards in SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (1,900,006) | ||
PEO [Member] | Ms. Ardrey [Member] | YearEnd Fair Value of Outstanding and Unvested Equity Awards Granted in Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 3,214,948 | ||
PEO [Member] | Mr. Wallstrom [Member] | Grant Date Fair Value of Equity Awards in SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,399,998) | (1,649,992) | (1,400,004) |
PEO [Member] | Mr. Wallstrom [Member] | YearEnd Fair Value of Outstanding and Unvested Equity Awards Granted in Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 238,367 | 1,123,726 | 2,899,525 |
PEO [Member] | Mr. Wallstrom [Member] | Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,131,539) | (829,372) | (381,521) |
PEO [Member] | Mr. Wallstrom [Member] | Change in Fair Value from the Prior Year for Equity Awards Granted in Prior Year that Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (84,689) | 256,964 | (546,570) |
PEO [Member] | Mr. Wallstrom [Member] | Fair Value from the Prior Year for Equity Awards Forfeited [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (365,197) | ||
Non-PEO NEO [Member] | Grant Date Fair Value of Equity Awards in SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (480,001) | (374,995) | (318,750) |
Non-PEO NEO [Member] | YearEnd Fair Value of Outstanding and Unvested Equity Awards Granted in Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 264,943 | 255,396 | 660,160 |
Non-PEO NEO [Member] | Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (204,610) | (197,453) | (132,393) |
Non-PEO NEO [Member] | Change in Fair Value from the Prior Year for Equity Awards Granted in Prior Year that Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (18,334) | $ 100,252 | $ (112,977) |
Non-PEO NEO [Member] | Fair Value from the Prior Year for Equity Awards Forfeited [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (165,772) |