by The Editors on September 8, 2010
Starting Friday September 10, 2010 Weezer fans can buy the new Weezer album Hurley at PacSun three days ahead of its official release, according to a story on Stereogum. Not only that, but there will reported be “Weezer-inspired” clothing for sale as well.
If “Weezer-inspired” refers to the band’s nerdy, ’90s look of worn cardigans/hoodies, plaid shirts buttoned up to the throat, ’70s sportswear, etc., then isn’t it more to the spirit of the band to get the originals in thrift stores?
Nope. Rivers is an aging rock star and as anyone who’s read Bill Flannagan’s Evening’s Empire knows, the most important thing about being a rock star is getting paid.
[Link: Stereogum]
by The Editors on September 8, 2010
by The Editors on September 6, 2010
When a bank in Austin, Texas was robbed by a scruffy white male people in the bank were quick to point out that “the suspect was wearing a ‘Volcom Diamond’ shirt.”
According to Austin Police, the male suspect entered the Wells Fargo Bank at 3212 Red River St. at 12:14 p.m. . . Witnesses say that the man did not present a weapon as he demanded cash from a teller. . . The robbery suspect received an undisclosed amount of money and fled on foot.
If this photo is any indication we’re guessing he’s on his way to the nearest PacSun. If you know him and don’t like him very much call the Austin robbery tip line at (512) 974-5092.
[Link: KXAN.com]
by The Editors on September 6, 2010
Billabong is apparently refinancing to the tune of US$780 million, according to a story on ifrasia.com.
Billabong International, an ASX-listed surf and skate lifestyle retailer, has signed a US$790m refinancing split equally between a three- and four-year loan. The four Aussie majors – ANZ, Commonwealth Bank of Australia, National Australia Bank and Westpac – were the bookrunners on the deal, which saw three others joining.
Looks like everyone is taking advantage of new lower interest rates.
[Link: ifrasia.com]
by The Editors on September 6, 2010
First Billabong reported that things in the branded boardsports fashion market weren’t going well and now Quiksilver adds in that things are going to get even worse, according to a story in the Sydney Morning Herald.
“We expect fourth quarter . . . revenues to be down 15 per cent after accounting for a weaker translation rate on the euro and the marked decline in consumer demand in the Asia-Pacific region,” Mr Scirocco said. . . Quiksilver posted a 12 per cent fall in third-quarter revenue to $US441 million ($481 million). Revenue in the Americas – dominated by a recession and high unemployment – was down 9 per cent but there was a 10 per cent drop in the Asia-Pacific region primarily due to market weakness in Australia. . .
Looks like Q1 2011 is going to be pretty bad. Get ready.
[Link: Sydney Morning Herald]
by The Editors on September 6, 2010
Oakley, a company that has historically tried to out maneauver Olympic sponsorship rules, has apparently nutted up and become the official eyewear sponsor the Team USA, according to a Tripp Mickel (behind the paywall) story on Sports Business Journal.
Terms of the multiyear agreement were not available, but sources said it offers the USOC both cash and value-in-kind. . .
Maybe someday Street & Smith will give us access to the whole story.
[Link: Sports Business Journal]
by The Editors on September 6, 2010
Quiksilver announced a double-plus good deal on the $150 million credit line they’ve been running, according to a story in Businessweek. The company got a new, lower interest rate and extended the credit line out for four years.
The new rate is 1.5 percentage points below its previous credit line arranged by Bank of America Corp.’s Merrill Lynch and General Electric Co.’s GE Capital. The credit line is now set to expire in August 2014.
That’s good news for the company that is currently carrying $700 million in debt.
[Link: BusinessWeek]
by The Editors on September 3, 2010
Japanese snow pipe superstar Kazuhiro Kokubo has joined Corey Duffel, Chris Pastra, and Steve Caballero on the Armourdillo team.
Kazu, who hails from Hokkaido, Japan, brings his unique personality and his one-of-a-kind riding style to the world, and we will make sure that more and more people have a chance to see both. . . Kazu has been filming, winning contests and riding hard all year, and the results speak for themselves. At twenty-one years old, the accomplishments are piling up.
Yeah, we’ve been on a bit of an accessories trip lately. But accessories are important. Follow the jump for the rest. [click to continue…]
by The Editors on September 1, 2010
Not that we’ve been pondering our sock drawer lately, but Klen Laundry just let us know that they are rolling out their their second collection of bamboo-based socks. Yeah, bamboo.
Staying in line with the KLeN principles of utilizing eco friendly materials and giving back to the planet, all of the new socks are OEKO-Tex certified to insure their clean qualities. The company also practices environmental stewardship through its membership to 1% For the Planet as well as a partnership with the Arbor Day Foundation in which a tree is planted for every t-shirt sold.
Less stinky, green socks are good socks.
[click to continue…]
by The Editors on August 31, 2010
Billabong’s recent annual report has been out for a while now, but Jeff Harbaugh’s gotten back to it in his most recent Market Watch column. In it he covers what currency fluctuations can mean to global businesses, why new accounting rules make profit comparisons difficult, the China crisis, and Billabong’s retail strategy.
In talking about Billabong’s motivations for retail, they note how they’ve seen an increase in house brands by retailers in recent years, and how that ends up “…eroding the amount of space that’s available for premium brands…” and usually not working for the retailer. Though they don’t come right out and name it, I think they were thinking about PacSun, where their sales last year were down 40%. . . . There is also a general concern about the overall whole base. In Australia, they estimate their account base has declined 5% in the last 12 to 15 months. In addition, they have “quite a few” on credit hold and “may not continue selling to those accounts.”
Reading Jeff’s columns is a lot like having a favorite uncle go over the numbers with you. Click it and you’ll see.
[Link: Jeff Harbaugh’s Market Watch]
