Yes, it’s compelling and those fingers are pretty good on that board. We have the strangest urge to buy a $500 scarf.
[Link: High Snobiety]
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Fashion
Billabong founder Gordon Merchant has decided to pay $8 million dollars to help save a business that makes biodegradable plastics. Plantic Technologies is a Melbourne, Australia-based company that creates “green” plastics made from corn starch, according to as story on Goldcoast,com.au.
Since Plantic’s shares listed at 64 pence ($1.02) each in 2005, they have fallen to ‘penny dreadful’ status, trading around 4 pence for most of the year and creating a sizeable hole in the value of Mr Merchant’s original investment. . . The businessman, who is currently in the US attending the funeral of surfer Andy Irons, has proposed a scheme of arrangement where he would acquire the remaining capital of Plantic that he does not already own. . . Mr Merchant made the offer of 8 pence a share on July 24, and this has since boosted the Plantic share price to around the offer level over the past three months. . . The Plantic board has recommended shareholders accept the offer, in the absence of a superior bid.
Hopefully, it will all work out. The world could use better plastic.
[Link: Goldcoast.com.au]
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686 has come up with a a pretty simple way to increase their social media reach—free stuff. Each fall they use their email list, facebook and twitter accounts to give products to the kids. They call it 686 Day. This year the day has been extended to three days (November 12-14, 2010).
To follow along be sure to check in on 686’s facebook, twitter, or email newsletter to see how it’s done. Follow the jump for more details and a list of the participating retailers.
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When core mall retailer Zumiez announced today (November 3, 2010) that their October revenue in stores open a least a year rose 21.5 percent there wasn’t an after hours trader who didn’t feel like jumping in apparently. The stock rocked up to $28.34 a share, according to a story on Canadian Business.
Analysts expected a rise of 7.8 percent, according to Thomson Reuters. . . Total revenue for the four-week period ending Oct. 30 rose 27.3 percent to $31.4 million.
Zumiez stockholders should be jumping for joy. Speaking of jumps, follow this one for the entire press release.
[Link: Canadian Business]
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Back in December of last year (2009) when we heard that several trade shows were flying retailers in and putting them up for a couple nights just so they could walk the isles of a convention for two days we asked a rather obvious question in a post titled Skate Trade Show Overload:
We have to wonder what happens to the entire trade show business model when they have to pay retailers to attend. Lord knows retailers need to be treated well these days, but it still seems to bring us back to the question that’s been plaguing the boardsports business for several years: are trade shows even relevant anymore?
It would appear that today ASR’s parent the Nielsen Company answered a little late with a resounding “No” according to a post on Shop-eat-surf.com. According to what Tiffany Montgomery described as “multiple people briefed on the matter” ASR has cancelled all of their upcoming trade shows. She says:
The demise of the industry’s largest trade show on the West Coast, with 700 brands, 450 manufacturers and attended by 18,000 people from over 60 countries, has the potential to dramatically alter the trade show landscape in the action sports industry.
Nielsen VP of Operations Lori Jenks is quoted in the the San Diego Union-Tribune:
“Unfortunately due to the difficult economic environment and the consolidation in the action sports industry, Nielsen Expositions have decided to suspend the production of both ASR events in San Diego indefinitely,” wrote Lori Jenks, vice president of operations for Nielsen Expositions.
As we all know, the only companies who stand to be hurt by ASR going away are the small and the new. But then they’re the ones who get in the way of the big corporate labels anyway. The major labels can afford to do their own sales work, and if the barrier to entry on the little guys gets a little higher through all this, who really cares, right?
It should be even better news for Agenda’s Aaron Levant. His show has always specialized in the small guys. If ASR leaving the trade show game is good news, Levant didn’t want to talk about this afternoon. The only response we got from him was, “No comment on the ASR situation.”
[Link: Shop-Eat-Surf and San Diego Union-Tribune]
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Brixton will be celebrating the release of the Brixton x Deus Motorcycles collaboration Thursday, November 11th, Thalia Surf Shop in Laguna Beach, California.
The night will kick off at 7pm here at the shop for giveaways, raffles, and vintage bikes on display along with all of the Brixton x Deus hats and apparel. At 9pm we’ll then be moving the party down the street to Laguna’s oldest bar in town, The Marine Room [21+], where we’ll be hosting the rest of the night with live music by Becky Lee & Drunkfoot, Yuma Territorial Prison Guard, and Thalia Surf’s own DJ Burnout.
Retro fashion greasers rejoice.
[Link: Brixton]
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Stance’s Ryan Kingman just let us know that Chris Cole in now official wearing the socks.
Cole’s achievements in skateboarding defy description. Everyone is well aware of what a beast he is on his board and what he’s capable of. With that said, we won’t bother trying to envelop his amazing list of accomplishments here as the sheer volume spoken by Cole’s decision to be part of Stance is best left as it is. Well done is better than well said.
Can’t really argue with that.
[Link: Stance]
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Yes, the fall 686 gear looks nice, but we’re still kind of wondering who is on the chase?
[Link: 686]
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For the first time in four years Globe International (parent of Dwindle Distribution) has turned a profit. And, according to a story in The Australian, it is due to a “balanced approach.”
While in previous years Hill has issued bullish assessments of the outlook only to have them fail to materialise, he’s now playing it safe. He talks only of stabilising revenues and growing through market share expansion. . . “We have some positive signs in the business at the moment but markets are also erratic, so we’re being cautious both on the outlook and how we manage the business,” he tells The Australian.
Looks like the “back-to-basics” plan is working.
[Link: The Australian]
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Following some less the impressive Q4 forecasts Volcom shares dipped below their 50-day moving average this morning with a 15 percent drop, according to Market Intellisearch.
Technical analysts and investors may interpret today’s trading activity as a sign that the shares will continue to head lower in the foreseeable future assuming the moving average has downward slope. . . The stock’s 52 week low is $14.7 and the high is $24.79. The technical momentum Relative Strength Index indicator shows oversold conditions.
But wait. What about that $1 special dividend? To read the entire transcript of yesterdays Volcom earnings call click here.
[Link: Market Intellisearch and OC Business Journal]
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