Revenue from Contracts with Customers

3 Months Ended

May 02, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following presents the Company's net revenues disaggregated by product category for the thirteen weeks ended May 2, 2020 and May 4, 2019 (in thousands):


	Thirteen Weeks Ended
	May 2, 2020
	VB Direct Segment			VB Indirect Segment			Pura Vida Segment			Total
Product categories
Bags	$	16,491		$	4,600		$	—		$	21,091
Travel	9,441			2,397			—			11,838
Accessories	7,247			1,322			20,539			29,108
Home	2,349			231			—			2,580
Other	1,309		(1)	2,679		(2)	679		(3)	4,667
Total net revenues	$	36,837	(4)	$	11,229	(5)	$	21,218	(4)	$	69,284

(1) Primarily includes net revenues from apparel/footwear, stationery, freight, and gift card breakage.
(2) Primarily includes net revenues from apparel/footwear, licensing agreements, freight, and merchandising.
(3) Related to freight.
(4) Net revenues were related to product sales recognized at a point in time.
(5) $10.6 million of net revenues related to product sales recognized at a point in time and $0.6 million of net revenues related to sales-based royalties recognized over time.


	Thirteen Weeks Ended
	May 4, 2019
	VB Direct Segment			VB Indirect Segment			Pura Vida Segment		Total
Product categories
Bags	$	27,667		$	9,991		$	—	$	37,658
Travel	19,926			3,722			—		23,648
Accessories	16,060			4,202			—		20,262
Home	5,685			584			—		6,269
Other	1,798		(1)	1,368		(2)	—		3,166
Total net revenues	$	71,136	(3)	$	19,867	(4)	$	—	$	91,003

(1) Primarily includes net revenues from apparel/footwear, stationery, and freight.
(2) Primarily includes net revenues from licensing agreements, freight, apparel/footwear, and merchandising.
(3) Net revenues were related to product sales recognized at a point in time.
(4) $18.9 million of net revenues related to product sales recognized at a point in time and $1.0 million of net revenues related to sales-based royalties recognized over time.

Contract Balances

Contract liabilities as of May 2, 2020 and February 1, 2020, were $4.4 million and $3.9 million, respectively. The balance as of May 2, 2020 consisted of unearned revenue related to the monthly bracelet and jewelry clubs of the Pura Vida segment, unredeemed gift cards, Pura Vida customer deposits and payments collected before shipment, and Pura Vida loyalty club points. The balance as of February 1, 2020 consisted of unearned revenue related to the monthly bracelet and jewelry clubs of the Pura Vida segment, unredeemed gift cards, Pura Vida payments collected before shipment, and an immaterial amount of unearned revenue for pre-payments of royalties in certain of the Company’s licensing arrangements. These contract liabilities are recognized within other accrued liabilities on the Company’s Condensed Consolidated Balance Sheets. The Company did not have contract assets as of May 2, 2020 and February 1, 2020.

The balance for accounts receivable from contracts with customers, net of allowances, as of May 2, 2020 and February 1, 2020, was $14.3 million and $16.3 million, respectively, which is recognized within accounts receivable, net, on the Company’s Condensed Consolidated Balance Sheets. The provision for doubtful accounts was $1.0 million and $0.5 million as of May 2, 2020 and February 1, 2020, respectively. The provision for doubtful accounts is based upon the likelihood of default expected during the life of the receivable.

Performance Obligations

The performance obligations for the VB Direct, VB Indirect, and Pura Vida segments include the promise to transfer distinct goods (or a bundle of distinct goods). The VB Indirect segment also includes the right to access intellectual property (“IP”) related to the Vera Bradley brand.

Remaining Performance Obligations

The Company does not have remaining performance obligations in excess of one year or contracts that it does not have the right to invoice as of May 2, 2020.