Per CNBC (and confirmed on Bean), they are dropping their unlimited satisfaction guarantee and going to 1-year returns:

Their website notes, however, "After one year, we will consider any items for return that are defective due to materials or craftsmanship." There are other caveats. As I read it, they can be more generous if they wish, but the discretion is theirs now and not the consumer's choice.

They're also doing $50 min for free shipping.

Generally I think this is a good change in policy because of the costs of abuse borne by LLB and its customers. Of course I'd like to see the benefits of the new policy reflected in prices ... but it may take some time. I assume they'd still have to honor items already bought under a prior version of their guarantee, since that generous inducement probably factored into the purchaser's decision to go with LLB.

The shipping policy is a sensible change too. People are turned off (sometimes shocked) at the real cost of shipping, so while it makes some sense to build it into prices, you have to sell enough to recover it.

This is pretty similar to REI's current policy, right?

Perhaps doesn't affect many here but they do still sell some outdoor gear and clothes (and I have some of each).