It’s not all gloom and doom in the action fashion category. Quiksilver may have lost $83 million in the quarter ending April 30, 2011, but they did better than expected and experienced increased revenue for the first time in three years, according to the Wall Street Journal.
For the quarter ended April 30, Quiksilver posted a loss of $83.3 million, or 51 cents a share, compared with a year-earlier profit of $9.42 million, or 6 cents a share. Excluding a $74.1 million impairment charge and valuation allowances against tax assets, earnings from continuing operations in the latest period were 9 cents a share. Revenue rose 2.1% to $478.1 million.
In more bad news for the action mall fashion retailer PacSun’s stock reportedly crossed its 52-week low today as it dropped to $2.90 a share, according to a story on The Street. But that’s not all:
TheStreet Ratings rates Pacific Sunwear as a sell. The company’s weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and deteriorating net income.
Doesn’t exactly sound like a vote of confidence, does it?
Nixon has teamed up with theBeastie Boys for a new limited edition line of Swatches watches with some of the proceeds going to benefit WKCR-FM, Columbia University’s non-commercial student-run radio station.
Four watches were created for the collection and are available in red, white, green and blue. The watches come in a maritime themed package, which is unlike anything the Nixon line has ever seen before, and feature an image of Mike D along with a special message from him on both the watchband and case. As lifelong lovers of everything skate, snow and surf, not to mention style icons in their own right, it is fitting for Nixon to have MCA, Ad Rock and Mike D create a unique interpretation of Nixon’s Time Teller watch. Due to the limited nature of this collection, once these watches are sold out, they are gone forever.
Beastie Boys, nautical flavor, and a cause all mixed into one? Now that’s marketing. Follow the jump for more watchy details. [click to continue…]
After a flurry of Twitter messages, blog posts, and facebook messages yesterday, the sad news is official. Jonas Bevacqua, the 34-year-old co-founder of action fashion label LRG, was found dead in his Laguna Beach, California home on Monday, May 31, 2011, according to a story in the Orange County Register.
The cause of death for the well-known urban-style clothing designer has not yet been determined, Supervising Deputy Coroner Kelly Keyes said. The Laguna Beach Police Department did not provide details but said that the death does not appear to be suspicious.
Our thoughts are with his family and friends specifically his fiancé and son. Follow the jump for an official statement from LRG’s CEO Robert Wright and CFO Charlie Moothart. [click to continue…]
In an apparently move to become completely Laurent-Free Burtons Snowboards announced today that Super Rep Laurent Vrignaud is calling it quits and will be moving on “to pursue new opportunities as of June 1st.”
“Laurent has been a part of the Burton family for so long, and we all thank him for dedicating over two decades of his career to growing the brand and the sport,” said Jake Burton, Founder and CEO of Burton Snowboards. “Everyone here wishes him the best on his next chapter, and we look forward to a new era with our valued dealers in the territory.”
In other Laurent rumors it appears that former Burton CEO Laurent Potdevin (who left the company on May 3, 2010) has finally found a new home as President of Toms Shoes.
And now for some week-and-a-half old video from the ever entertaining skateboarding footwear market. It would appear that there are some at Girl who do not want to lose their Lakai footwear brand in a potential Podium sale.
Fabrizio Santos, one of the friendliest guys in skateboarding, has signed on to represent KLeN Laundry.
A fun loving, outgoing and engaging personality, the Breeze has a style of skating all his own: smooth, fluid and explosive wrapped into one. Fabrizio cruises the streets and skate parks alike with dreadlocks flying wild, but always in complete control of the board under his feet. Breeze finished last year with an 8th place ranking on the Dew Tour and most recently had a strong showing at Ryan Sheckler’s Skate For A Cause event in Lake Forest.
Fresh socks are always good. . . follow the jump for the official word. [click to continue…]
In a world where Zumiez is winning and certain teen apparel departments within department stores are winning, there has to be a loser, and Pacific Sunwear is a loser. When I look at their balance sheet, if they cannot show signs of life by the back-to-school shopping season, which I think is going to be the case, I’m wondering if they’re going to have problems getting supply for the holiday selling season.”
Eric Koston’s extremely limited edition Nike SB Kobe Bryant goes on sale on Saturday, May 21, 2011. N-SB.org has all the details.
The shoe is exectued in black, purple and yellow and features a Kobe VI like upper and Kobe’s logo on the tongue.. . . The shoe will be very limited with only 24 pairs available this Saturday at the Nike Vault in the Staples Center in LA. The proceeds of the sales will be donated to the Nike Better World and The Kobe Bryant Family Foundation.
Better get them before sundown, because as we all know, the world is ending and the Lakers are out.
It’s not all gloom and doom in the action fashion category. Quiksilver may have lost $83 million in the quarter ending April 30, 2011, but they did better than expected and experienced increased revenue for the first time in three years, according to the Wall Street Journal.
