{"id":14975,"date":"2025-03-23T04:26:58","date_gmt":"2025-03-23T04:26:58","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-vera-bradley-sells-pura-vida-and-edible-brands-enters-the-hemp-industry\/"},"modified":"2025-03-23T04:26:58","modified_gmt":"2025-03-23T04:26:58","slug":"the-weekly-closeout-vera-bradley-sells-pura-vida-and-edible-brands-enters-the-hemp-industry","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-vera-bradley-sells-pura-vida-and-edible-brands-enters-the-hemp-industry\/","title":{"rendered":"The Weekly Closeout: Vera Bradley sells Pura Vida and Edible Brands enters the hemp industry"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><\/p>\n<p>            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.retaildive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"\"\/><\/p>\n<p>        Listen to the article<br \/>\n        <span class=\"text-to-speech__button__audio-length\">9 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"https:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1742574479\/news\/text_to_speech\/vera-bradley-sells-pura-vida-edible-brands-hemp-jcrew-ski-snowboard_anrtps.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have feedback.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<p>It\u2019s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we\u2019re still thinking about.\u00a0<\/p>\n<p>From J. Crew\u2019s deal with U.S. Ski &amp; Snowboard to Destination XL\u2019s double-digit sales decline,\u00a0here\u2019s our closeout for the week.<\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What you may have missed<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>Michaels launches subscription-based digital creative platform<\/span><\/em><\/span><\/span><\/span><\/span><span><span><span><span><span><span>\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>As Michaels embarks on an omnichannel customer experience transformation, the craft retailer launched a subscription-based <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>digital platform for creators<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> on Wednesday.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Michaels Digital Downloads offers more than 150,000 digital assets, such as fonts, illustrations, knitting and embroidery patterns, illustrations, laser cutting files and PNGs. The retailer is offering the digital environment in partnership with Creative Fabrica.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The subscription is $9.99 a month or an annual price of $83.88 if billed upfront. A free 30-day trial with up to 10 downloads is available.\u00a0Michaels is touting the digital subscription as a way for customers to buy everything they need for a project in one place.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Michaels President Heather Bennett said 70% of its creators wanted a digital platform. \u201cAs we continue to innovate to support our customers&#8217; creative passions, we&#8217;re excited to deliver a seamless and convenient digital download experience that sparks inspiration and fuels the joy of creativity.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>J. Crew named lifestyle apparel partner for U.S. Ski &amp; Snowboard<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>J. Crew <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>signed a three-year deal to become the lifestyle apparel partner<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> for U.S. Ski &amp; Snowboard, the governing body responsible for the 10 Olympic and Paralympic teams in those sports in the U.S. J. Crew will partner with sports including alpine skiing, cross-country skiing and snowboarding, and will kick off the partnership with an event next week in Idaho, according to a company press release.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"Libby Wadle, CEO of J.Crew Group; Sophie Goldschmidt, President and CEO of U.S. Ski &amp;amp; Snowboard; and Kevin Ulrich, J.Crew Group Chairman of the Board.\" data-imagemodel=\"176290\" src=\"https:\/\/imgproxy.divecdn.com\/Sf_9h2Cz4MSemv5H_GpDn8X93QLvuKinqQjyR7gSo8I\/g:ce\/rs:fit:1600:0\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9KQ3hTa2lfVGVhbV8wMzIwMjUuanBn.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>J. Crew Group CEO Libby Wadle says the brand has a \u201clong-standing connection to alpine culture.\u201d<\/p>\n<p>Courtesy of J. Crew<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>As a part of the partnership, which J. Crew says is its longest to date, the apparel retailer will provide products in its signature categories that have been \u201creimagined through an aspirational ski lens.\u201d That includes sweaters, loungewear and cold-weather accessories featuring vintage logos and Olympic patches.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>&#8220;J. Crew has a long-standing connection to alpine culture, and we are thrilled to build on that legacy through our partnership with U.S. Ski &amp; Snowboard,&#8221; J. Crew Group CEO Libby Wadle said in a statement, noting that competitive snow sports are continuing to grow in popularity in the U.S.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Vera Bradley<\/span><\/em><\/span><\/span><\/span><\/span><span><span><span><span><span><span> <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><em><span>sells Pura Vida\u00a0<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Vera Bradley CEO Jackie Ardrey announced on a recent earnings call that the company <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>sold DTC bracelet brand Pura Vida.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> The company did not give details regarding the sale on the call and did not immediately answer Retail Dive regarding the terms of the sale. However, Ardrey did say that Vera Bradley expects to close on the deal by the end of the first quarter.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>\u201cThe sale of Pura Vida represents a significant step in our strategic evolution,\u201d Ardrey said.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>Vera Bradley acquired a 75% stake in the DTC brand in 2019 for over $75 million and then took <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span><span>full ownership in 2023<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> for $10 million.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>Retail Therapy<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>NYX announces Minecraft movie makeup collection <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>NYX Professional Makeup\u2019s <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>latest collection<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> merges beauty and gaming ahead of the release of \u201cA Minecraft Movie\u201d from Warner Bros. Pictures.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"A brand image of Nyx&amp;#x27;s Minecraft collection\" data-imagemodel=\"176279\" src=\"https:\/\/imgproxy.divecdn.com\/A_Qr2tBCeTzvF-xTAE3-SJjEYwmscaZx731zE_wNajY\/g:ce\/rs:fit:1600:0\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9OWVhfUHJvZmVzc2lvbmFsX01ha2V1cF9BX01pbmVjcmFmdF9Nb3ZpZV9jb2xsZWN0aW9uX2hJdE43WksuanBn.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Courtesy of NYX Professional Makeup<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>The collection offers blush and highlight balms in stackable cube packaging, lip glosses and a compact mirror. A <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>limited-edition 10-piece bundle<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>\u00a0is sold on NYX\u2019s website for <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>$106.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>NYX\u2019s Minecraft movie collection is currently available online and will be sold globally starting Monday.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The beauty brand previously entered the gaming world through partnerships with eSports team Dignitas and virtual storefronts on Roblox, to name a few.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Edible Arrangements owner enters hemp industry <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<section class=\"storylines-carousel-wrapper hide-small show-large\" id=\"desktop-carousel\"\/>\n<p><span><span><span><span><span><span>Edible Brands \u2014 parent company of Edible Arrangements,\u00a0the company known for its chocolate-covered strawberries and fruit baskets \u2014\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>launched an e-commerce marketplace<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> for hemp and THC-infused products.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Edibles.com features multiple brands, including Cann, Wana and 1906. The platform launched in Texas on Thursday and plans to expand to legal markets in Florida, Georgia and other areas of the Southeast. Select items will be eligible for nationwide shipping where legally permitted.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><strong><span><span>What we\u2019re still thinking about<\/span><\/span><\/strong><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>$18.5M<\/span><\/em><\/span><\/span><\/span><\/span><span><span><span><span><span><span>\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That\u2019s the <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>net income Lands End recorded in the fourth quarter<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, swinging to a profit from a loss of $8.6 million in the year-ago period.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cLands\u2019 End had a strong finish to a year defined by continued positive momentum across the business. We increased gross profit dollars, expanded gross margins and grew [gross merchandise value]\u00a0each quarter of fiscal 2024, excluding the 53rd week, resulting in a return to profitability for the full year,\u201d CEO Andrew McLean said in a statement.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The retailer, however, reported revenue fell 14.2% year over year to $441.7 million in the fourth quarter, which was driven in part by the company transitioning its kids and footwear product lines to licensing arrangements. For the full year, revenue fell 7.4% to $1.36 billion.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>In the year ahead, Lands End is focused on improving its digital business and operations.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThrough our amazing products, robust product franchises and our evolved marketing approach, it\u2019s clear that our strategic evolution, including considerable growth from licensing, is driving strong progress and expanding the reach of our brand,\u201d McLean added.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>13.1%<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<section class=\"storylines-carousel-wrapper show-small hide-large\" id=\"mobile-carousel\"\/>\n<p><span><span><span><span><span><span>That\u2019s how much <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>sales fell at Destination XL in the fourth quarter,<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> reaching $119.2 million. The retailer also swung into the red, reporting a $1.3 million net loss in Q4 from a profit of $5.2 million a year ago.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cOur sales results reflect a difficult year for the men\u2019s apparel sector where DXL has been challenged by lower traffic levels to our stores and lower conversion online,\u201d CEO Harvey Kanter said in a statement. \u201cMen\u2019s retail remains volatile, and we believe the Big + Tall consumer cut back on spending for himself in fiscal 2024. Despite this challenge, we maintained a strong operating regimen with our merchandise margin and controlled operating expenses to drive positive net earnings, positive free cash flow, and an adjusted EBITDA margin of 4.3%.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Destination XL declined to provide full-year guidance as a result of market volatility and macroeconomic uncertainties, namely around tariffs. The retailer said its exposure to tariffs on goods from China, Mexico and Canada represents less than 5% of its sourced products, and it expects gross margin to be impacted by less than 10 basis points.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What we\u2019re watching<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>Saks Global execs to lay their cards down in Texas <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Saks Global executives have agreed to meet with a consortium of Dallas city and business leaders Monday morning at the downtown Neiman Marcus store that is slated to close March 31.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The Dallas group has wanted a parley ever since they resolved a lease dispute that Saks said was <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>forcing it to shut<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u00a0<span><span><span><span><span><span>the location because, despite the breakthrough, Saks has <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>repeatedly<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>doubled down<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>. About a week ago, Dallas City Manager Kimberly Bizor Tolbert upped the ante with a <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>cryptic letter<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u00a0<span><span><span><span><span><span>to Saks Global Executive Chairman Richard Baker, offering a financially beneficial opportunity that would also foster \u201cloyalty and goodwill with your Texas clientele.\u201d\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Saks Global was formed in December after Saks owner HBC, also led by Baker, <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>acquired Neiman Marcus for $2.7 billion<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>. In a statement to Retail Dive, a Saks Global spokesperson confirmed Monday\u2019s meeting but reiterated that the \u201cplans for the Dallas downtown store have not changed.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>HBC is closing stores up north as well: Its Canadian department store business is in the <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>midst of bankruptcy<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, with <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>plans to liquidate<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> and shutter 80 Hudson\u2019s Bay, 13 Saks Off 5th and three Saks Fifth Avenue locations.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen to the article 9 min This audio is auto-generated. Please let us know if you have feedback. It\u2019s been another week with far more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14976,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-14975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/14975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=14975"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/14975\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/14976"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=14975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=14975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=14975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}