Show me the refund

I recently returned a bag(outta wack daypack) valued at $125 to timbuk2 that was defective. I was sent an email that gave me $100 credit in the store. I now realize that sending the bag back to timbuck2 was silly. If I had returned the bag to the place where I bought it I would have received a full refund or a brand new bag of equal value, not $100 credit. Why timbuk2, do you not give a full refund on defective products? I know many stores will refund completely or replace free of charge defective products without hassle.