Pura Vida recorded its first positive quarterly revenue performance in five quarters, primarily driven by the opening of three stores in its prior fiscal year, according to the quarterly report of its parent, Vera Bradley. The company said Pure Vida will pause store openings this year as it focuses on reviving online growth and expanding with larger wholesale accounts.
Vera Bradley acquired a majority stake in Pura Vida in 2019 and purchased the remaining 25 percent in January 2023 for $10 million.
Pura Vida’s revenues in the first quarter ended April 29 totaled $20.1 million, a 1.2 percent increase over $19.8 million in the prior year first quarter. Improved year-over-year sales trends were also seen in Pura Vida’s wholesale and e-commerce channels.
On a quarterly analyst call, Vera Bradley’s CEO Jackie Ardrey said the company is taking strategic proactive steps to steadily grow Pura Vida’s revenues, including promoting Sujay Shah, the brand’s former VP of finance, to general manager.
Pura Vida operates five stores in San Diego, CA; Irvine, CA; Myrtle Beach, SC; Gilbert, AZ; and Camarillo, CA.
In Vera Bradley’s fiscal year ended January 29, Pure Vida’s sales were down 17.7 percent to $98.4 million from $119.6 million the prior year.
