The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Joe Gomes - NOBLE Capital Markets, Inc. - Analyst
: Good morning. Thanks for taking my question.
Question: Joe Gomes - NOBLE Capital Markets, Inc. - Analyst
: So Jackie and Michael, last time when we talked for the second quarter, your traffic has been down and you guys were taking some steps, including
some paid media, mall takeovers, et cetera, to trying to drive additional traffic. I was wondering you give us what the takeaways so far are and what
or else are you looking at to help drive traffic?
Question: Joe Gomes - NOBLE Capital Markets, Inc. - Analyst
: Okay. Thank you for that. And maybe switching gears over to Pura Vida here. We started out the year pretty positive environment there, your sales
were actually up year-over-year, but then they declined in the second quarter. This quarter, they climbed the fact that nearly 20% down.
Some of you talked about was due to some one-time events or not break out what it would be outside of those one-time events or what do you
think we can do here in the short term and we reverse that trend back to what we saw earlier in the year?
Question: Joe Gomes - NOBLE Capital Markets, Inc. - Analyst
: Okay, great. One last one for me on the inventory -- again, great job there, but I'm pardon me down basically even another $10 million sequentially.
Just wondering is there really more there that you can take out on the inventory side or are we are at a level where we're going to need this as
hopefully, we see the sales beging to grow? Thank you.
Question: Joe Gomes - NOBLE Capital Markets, Inc. - Analyst
: Right, thank you very much.
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DECEMBER 06, 2023 / 2:30PM, VRA.OQ - Q3 2024 Vera Bradley Inc Earnings Call
Question: Eric Beder - Small Cap Consumer Research, LLC - Analyst
: Yeah, good morning. Congratulations on Q3.
Question: Eric Beder - Small Cap Consumer Research, LLC - Analyst
: Let's talking about two things here. First is on the Indirect sales channel and the opportunities from more, I guess, indirect flash wholesale. This is
the second quarter where this has gone up year-over-year after a long period of declining here. What is driving that in terms of your -- are you
seeing more people want to take product, are you seeing to your taking more product?
What are you seeing in the indirect channel -- you brought it up for both Pura Vida and for the Vera Bradley brand, that's driving that to go forward
as a positive driver here?
Question: Eric Beder - Small Cap Consumer Research, LLC - Analyst
: You mentioned leather into more expensive item and also with the customer who is buying spent a lot more (technical difficulty) you mentioned
the performance product which is slightly more expensive too. When we think about going forward, these are items that probably are driving into
new customers, younger customers. Is there an opportunity to continue to expand those pieces and be continue to drive higher pricing from them,
which can drive, I guess, better returns?
Question: Eric Beder - Small Cap Consumer Research, LLC - Analyst
: Okay. And last question. Is there a 53rd week in your Q4? And how big is it, if it is there?
Question: Eric Beder - Small Cap Consumer Research, LLC - Analyst
: Okay, all right. Congratulations again, and good luck in the holiday season.
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