Billabong yesterday posted a $146 million bottom-line result, down 4.5 per cent on last year’s result. . . This year’s profit was again impacted by a higher Australian dollar, but investors sold off the stock due to weakliness in the company’s key overseas markets as well as Australia.
Derek O’Neill is right (click here for video). Being down only 4.5 percent in 2010 is pretty good. Apparently, Australian traders do not agree.
686 has moved from the darkside and into the light with the relaunch of their Winter 2010-11 web presence.
They’ve also added a little game to the mix with their interactive 686 Reservoir Dogs ad campaign featuring Marco Feichtner, Louie Vito, Forest Bailey and Patrick McCarthy.
As each ad drops, clues and a video are posted on www.686.com where consumers can follow the leads to win prizes and solve the big “mystery”…
Sounds mysterious indeed. Time to start sleuthing. Follow the jump for the official word. [click to continue…]
This story has been written up pretty much everywhere already, but as Podium was nice enough to send out the press release (including this photo of Mike Dunlap and Justin Reyes) we decided we’d throw in our two cents.
Here’s what they’re saying:
Under the terms of the new agreement Billabong will distribute Podium brands DVS, Matix, and Lakai in Australia as well as New Zealand alongside its current line of in-house brands including Element, Nixon, Von Zipper, Kustom Footwear and Plan B. . . .Although Billabong will assume full distribution of Podium’s brands in Australia, the company’s distribution responsibilities in New Zealand will be limited to Billabong’s company retail store channels as well as stores belonging to the Billabong-owned Amazon retail chain.
While we sort out our thoughts on the fall ASR/ Class/ Crossroads/ Sacred Craft aggregation of trade showshere are some photos from Friday, August 13, 2010.
Every year Volcom chooses a theme and sticks to it for the entire trade show season. They’ve done hippies, hillbillies, and this year they raved it up with Volcom Techno Beach.
This clip is only one minute long. By the time the 2010 Fall Action Sports Retailer Show closes on Sunday, August 15, 2010 Volcom employees will have relived this minute 1,380 times. And then they will get to do it all again at Surf Expo next month, and at SIA in Janaury 2011. How’s that for dedication to the brand?
The Rhone Group, the international leveraged buyout firm that saved Quiksilver from financial peril to the tune of $150 million in June of 2009, and then traded $75 million of that debt for 16.7 million shares in the company last month, has now “acted on all its options” and traded the rest of the debt in for 14 million more shares (at $4.50 a share) in Quiksilver common stock, according to papers filed with the SEC. As might not be surprising Quik CEO Bob McKnight is pleased with the deal.
“We’re delighted to complete this debt for equity exchange as another important step toward further de-leveraging our balance sheet. The transaction provides us with additional operating and financial flexibility. We especially want to thank Rhône for the tremendous vote of confidence in making this investment and for their ongoing belief in our company. Since extending the original term loans to us a year ago, Rhône has become a major presence in our board room and they have added significant value to our business.”
As The Rhone Group now owns close to 33 percent of the company we’re guessing they’re going to become a major presence in more than the board room rolling forward. For the entire release follow the jump. [click to continue…]
This really is more of a personal reminder to ourselves than to anyone else (we’re getting pretty forgetful these days), but tomorrow the Agenda Trade Show kicks off its two-day run at Huntington Beach, California’s Hyatt Regency Hotel. As if you don’t have enough going on this week. . .
It would appear that snowboarder Luke Mitrani is officially riding for the Stone, according to a communique from behind the Velcro Curtain.
Luke and Volcom have a history that spans over 10 years. Originally, on flow for street gear with every ambition on adding him head to toe, we have finally inked a deal. His personality, life interests and riding ability encompasses the Volcom spirit. Embedded in Luke’s dna is what defines the Volcom “Youth Against Establishment” philosophy. . . As a freethinker, activist, pioneer and talented individual, Luke bleeds Volcom. We look forward to many years a head of us. Welcome aboard Luke, aka Squid!
It is important to have snowboarders who “bleed” the brand and have the YAE in their DNA, for certain.
Sierra Nevada College has awarded a scholarship to professional snowboarder Travis Parker. Parker will attend Sierra Nevada College on an annual art scholarship in the amount of $15,000 per year, totaling $60,000 over a four-year period. Parker will enter the college in the fall as a fine arts major in painting and drawing, and also plans to get his teaching credential.
It’s so good to see snowboarders getting a good art education. Because nothing is more important in today’s economic realities than a fine art degree from a school no one has ever heard of.
It is the dream of many distributors to either be brought home by the mothership with a nice cash buyout, or grow large enough to buy the brand themselves. Volcom Australia’s John Clapham went the previous route and is selling the distributorship to Volcom corporate, according to a press release.
“We are very excited to more formally be coming under the Volcom global umbrella,” said John Clapham, chief executive officer of Volcom Australia. “We believe this will strengthen the company’s main aim to grow our share of the market and will enable us to take the brand to the next level in Australia and New Zealand.”
As usual, details on exactly what Volcom paid for the distributor were not disclosed. They also say this acquisition will be “neutral to earnings in 2010.” For the entire release, follow the jump. [click to continue…]
After reporting year end numbers for fiscal 2010, Billabong shares dropped 13 percent according to a story on Goldcoast.com.au.
