Vera Bradley Announces Store Closures

Vera Bradley (Fort Wayne, Ind.) announced that it will close or relocate up to 15 of its underperforming stores over the next two years. While the company has not detailed which stores will close, it did say that the closures will occur as leases expire or are able to be renegotiated.

This is part of the company’s efforts to turn the company around. Other efforts the company is employing include making the brand and the products themselves more desirable to shoppers as well as strengthening its distribution network.

The news coincides with the company’s fourth-quarter and fiscal year results. The company saw net revenues drop by 13 percent for the quarter and drop 3 percent for the fiscal year, reports The Journal Gazette.