by The Editors on November 19, 2009
Up anything is a good thing, right? While not even up 1 percent, it was good to see Zumiez up something for Q3. Here are some details from CNNMoney.com.
Total net sales for the third quarter (13 weeks) ended October 31, 2009 increased 0.8% to $113.2 million from $112.2 million reported in the third quarter (13 weeks) ended November 1, 2008. The Company posted net income for the quarter of $5.1 million or $0.17 per diluted share versus net income of $6.8 million or $0.23 per diluted share in the third quarter of the prior fiscal year. Comparable store sales decreased 8.0% for the third fiscal quarter of 2009 compared to a 5.8% decrease in the third quarter of 2008.
CEO Rick Brooks is very proud of the Zumiez organization.
“I want to credit our entire team for our better than expected third quarter performance. By carefully managing our inventory, working closely with our branded and private label vendors to design programs that would deliver improved merchandise margins, and finding ways to inspire consumers who visited our stores, we were able to exceed our initial third quarter expectations and saw a meaningful improvement in our same store sales trends relative to the first half of fiscal 2009.
Things are looking up. Click the link for the complete financials.
[Link: CNNMoney.com]
by The Editors on November 19, 2009
It’s not that we have low expectations from Neff, because that’s not it. We just always thought of them as a beanie and t-shirt company, yet, they continue to come up with stuff that seriously looks cool. Like these knitted headphones. We’re not going to wear them, but there is no doubt that they are cooler than shit.
And we’re guessing they’re going to move a few units as they are available at Urban Outfitters. . . which reminds us, wonder when UO is going to buy Neff?
[Link: Neff]
by The Editors on November 19, 2009
What kind of weird voodoo economics are going on at The Buckle? While most other mall stores’ sales are chomping down on gobs of sun-blanched feces, The Buckle is reporting that their Q3 profits rose 15 percent “on higher online sales and sales at stores open more than a year, according to BusinessWeek.
For the quarter ended Oct. 31, The Buckle earned $33.3 million, or 71 cents per share, compared with $29.1 million, or 62 cents per share, for the same quarter last year. . . Revenue rose 10 percent to $231.2 million from $210.6 million a year ago.
Having visited a few of Buckle stores we can honestly say we’re at a loss to understand what they are doing differently from PacSun and Zumiez, especially since they are in the same malls, with similar product, often directly across the room from each other. . . weird. Maybe Affliction and Aqua VI are pulling them through.
[Link: BusinessWeek]
by The Editors on November 18, 2009
OC retailers rejoice. There’s a Sanuk company store coming just in time for the holidays. Then it will go away.
Sanuk sandals has reportedly opened a temporary shop in the OC’s Downtown Disney according to a story in the OC Register.
Sanuk, an Irvine-based footwear company, is scheduled to open a temporary location on Friday, said Suzi Brown, a Disneyland Resort spokeswoman. The casual store is scheduled to close in mid January.
Just think if all the brands opened pop-up stores for the holidays. . . as if it isn’t hard enough out there.
[Link: OC Register]
by The Editors on November 16, 2009
Orange 21, the parent company of Spy Optic filed their Form 10-Q today for the quarter ended September 20, 2009 and reported drops across the board.
- Consolidated gross profit decreased 52% to $2.9 million compared to 2008
- Consolidated net sales decreased 27% to $8.8 million
- A net loss of $1.1 million was incurred for the quarter
- Sales have decreased across all lines including snow and motocross goggles and sunglasses and amongst all customer classes.
- Sales and marketing expense decreased 41% to $1.8 million
- US employees are currently under a temporary 10% reduction in pay
Looks like management is pulling in the belt right along with the sales drop. But then what?
[Link: Guru Focus]
by The Editors on November 16, 2009
What do you know? Pac Sun shares reportedly “plunged in after-hours trading” today after the company announced that it lost $10.9 million in the Q3, according to the Associated Press.
Revenue fell 17 percent to $268.3 million from $323.6 million. Sales at stores open at least a year fell 18 percent during the quarter. Sales at stores open at least a year are a key measure of retailer performance because they measure growth at existing stores rather than from newly opened ones.
Shares were only down 19 percent. Follow the jump for the full press release.
[Link: Associated Press]
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by The Editors on November 16, 2009
We’re not even going to hazard a guess on all the things PacSun will have to talk about during their Q3 conference call at 1:30 PT on Monday, November 16, 2009. We’re just going to listen in on the call. Click here to listen.
[Link: CNN Money]
by The Editors on November 13, 2009
We’ve always wondered where all the Quiksilver and Roxy overstock goes. And now we know at least part of the story. Some of it ends up in the California Central Valley town of Visalia, according to a story in the Visalia Times Delta.
Visalia school psychologist Ray Miller has been helping students put clothes on their backs and shoes on their feet for more than a year. . . Miller, who had been going to Southern California to get clothes from Quiksilver’s warehouse at a discounted price, learned recently that the retailer would donate eight pallets full of shirts, shorts, pillows and accessories for students.
It’s nice that $152,000 worth of unwanted clothes could find a good home, no?
[Link: Visalia Times Delta]
by The Editors on November 5, 2009
If you’re going to have to attend a function in a mall–a function that includes appearances by Christian Hosoi, Reef Mcintosh, Kalani Chapman, Kiaborg, Ray Barbee, and the Matson 3 (and those are some good reasons to get tricked into going to the mall)–it might as well be Oahu’s Ala Moana Mall, right? It’s all going down this Saturday November 7, 2009 as Vans celebrates their grand opening of their Oahu store.
by The Editors on November 5, 2009
Big day behind the behind the velcro curtain. According to a Josh Hunter story on Transworld Business, Quiksilver has laid off 125 employees and eliminated 75 positions in the Americas region.
“We’ve reported to investors over the past couple of quarters that we’d be making expense reductions of between 40–60 million dollars from a combination of SG&A improvements and cost cuts, as well as cost of goods sold improvements, or margin improvements,” [Vice President of Investor Relations Bruce] Thomas explains. “In doing that we started down a path of redefining the structure of our Americas operation in particular because we had been arranged along an organization structure that had brand management silos. We had separate merchandising, design, sales, marketing, sourcing, and production teams by brand for each region. We’re breaking down some of those brand barriers and creating a structure that’s much more functionally based moving forward.”
And yes, as a commenter pointed out, this is consolidation.
[Link: Transworld Business]
Up anything is a good thing, right? While not even up 1 percent, it was good to see Zumiez up something for Q3. Here are some details from CNNMoney.com.
