02:33 PM EDT, 03/12/2025 (MT Newswires) -- Vera Bradley ( VRA ) said Wednesday it has agreed to sell all ownership interest in the Pura Vida business.

The company did not disclose the buyer or the financial details of the transaction.

"We remain on track to deliver a minimum of $20 million in cost savings in 2025 and we enter the new fiscal year debt-free providing flexibility to operate our business transformation," Chief Executive Jacqueline Ardrey said, according to a press release.

The transaction is expected to close by the end of Q1, Ardrey added during the Q4 earnings call, according to a FactSet transcript.

Shares of the company were down more than 7% in recent trading.

Price: 2.51, Change: -0.21, Percent Change: -7.55