Vera Bradley’s Remarkably Frank Admission: We Don’t Have Enough New Customers

Shares of Vera Bradley, a company best known for its quilted-cotton handbags, hit an all-time low Wednesday, and investors can thank Chief Executive Robert Wallstrom’s candor.

“We are not attracting enough new customers to the brand,” he said in a news release accompanying the earnings, forgoing the typical corporate-speak that glosses over problems.

Wallstrom later told MarketWatch he believes “transparency is critical with the investment community.”