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Vera Bradley's plan to rope in more customers by expanding its product lines isn't working. "We are not attracting enough new customers to the brand," CEO Robert Wallstrom said in a statement following a dismal earnings report this week. According to MarketWatch, the brand's shoppers have grown tired of the quilted look and aren't responding well to the new line of leather bags either, mostly because they don't even know that the company has expanded its offerings.
"Vera has a distinct look that is both a blessing and a curse," Dan Hess, CEO and chief analyst of Merchant Forecast told MarketWatch. "The consumer has grown tired of that look and appears to be passing on almost every attempt the company has made to move away from that one look."