(FORT WAYNE) - Vera Bradley will not hold its popular annual outlet sale in Fort Wayne this year as the company works to cut costs and continue a business turnaround.
The event has traditionally drawn thousands of shoppers and seasonal workers to the city each spring.
The decision comes as Vera Bradley reported returning to profitability during the fourth quarter of fiscal 2026. The company posted net income of $2.7 million, or nine cents per diluted share, compared to a $20 million loss during the same quarter a year earlier.
Fourth-quarter revenue totaled $84.9 million, slightly down from $86.4 million the previous year.
Despite the improved quarter, the company still reported a full-year net loss of $32.7 million. Annual revenue also declined to $269.7 million from $318.8 million the year before.
Company leaders say the turnaround is part of a broader transformation effort known as "Project Sunshine."
Vera Bradley recently appointed Ian Bickley as chairman and chief executive officer. Martin Layding was also promoted to chief operating and financial officer.
For fiscal 2027, the company expects sales between $255 million and $270 million while continuing efforts to rebuild its wholesale business and reduce reliance on liquidation channels.