by The Editors on May 1, 2009
You know things are jacked up when Volcom announces that their first quarter profits dropped to more than half compared to last year and the stock still goes up.
Late Thursday, the company said profit fell 55 percent to $4.2 million, or 17 cents per share, from $9.3 million, or 38 cents per share last year. . . Revenue declined 15 percent to $68.3 million from $80.6 million last year.
Apparently, the market thought it would be even worse so the stock climbed 8.9 percent. Wonder if it’s possible to pay analysts to lowball expectations?
If you missed the call, the entire transcript can be read here on Seeking Alpha.
[Link: Forbes]
by The Editors on April 30, 2009
Volcom will discuss their 2009 first quarter results today in a conference call at 1:30 PST. Join in to hear just how poorly the surf fashion market has gotten.
The conference call will be available to interested parties through a live audio Internet broadcast at www.volcom.com. Volcom intends to utilize this webcast event to discuss financially oriented goals and objectives and to disclose material company and industry-based topics in an open manner. The company does not plan to report or comment on its progress during the current fiscal quarter.
We’re interested. . .
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by The Editors on April 29, 2009
Two lawsuits brought against Zumiez by shareholders have been dismissed according to a story in the Puget Sound Business Journal.
The Everett retailer of youth clothing (NASDAQ: ZUMZ) said one suit was dismissed with prejudice by the U.S. District Court for the Western District of Washington. The suit claimed that Zumiez and its officials made materially false or misleading statements during March 14, 2007, to Jan. 4, 2008, and engaged in insider trading. . . Zumiez added that a related shareholder action that was filed in Snohomish County was also voluntarily dismissed.
But that wasn’t enough to keep UBS from downgrading the company from neutral to sell.
[Link: Puget Sound Business Journal]
by The Editors on April 29, 2009
Looks like the economy can’t keep a good company down as Billabong’s stock price has closed above $10 for the first time since December 2008, according to a story on Goldcoast.com.au.
The Burleigh-based company has been riding a wave of renewed optimism that the US market has finally turned the corner, punctuated last weekend by rosy comments from US President Barak Obama’s economic adviser Lawrence Summers.
Wait, we leave the keyboard for a couple days and the recession is already over? We should go outside more often.
[Link: Goldcoast.com.au]
by The Editors on April 22, 2009
As more proof that all West Coast brands haven’t made it until they make it there, Nixon is setting up a popup shop at New York City’s “legendary” 114-year-old boutique Henri Bendel.
The Nixon pop-up shop will showcase many new pieces from Nixon’s spring 2009 line as well as two, limited edition 42-20’s.
. . . To celebrate the launch of the women’s spring 2009 line at Henri Bendel, we invite you join us for an evening of new product, music, sips and sweets and the opportunity to receive an exclusive Nixon gift-with-purchase* on Wednesday, April 29 from 6:00-8:00pm.
If we lived on the right coast we’d go, but that will never, ever happen (for all kinds of reasons).
[Link: Nixon]
by The Editors on April 21, 2009
Airwalk is sticking with print advertising according to a story in Brandweek. The company is launching their new “We Are Airwalk” campaign in the printed pages of several magazines that are still in business.
The campaign will break in print in the June issue of Vapors, a skateboarding/lifestyle magazine. The print component will comprise 26 pages across vertical titles like Skateboarder and Snowboarder, as well as other lifestyle and music titles, including Spin and Filter. As for social media, the brand will have a presence on MySpace and Twitter. . . “The campaign is really focusing on athletes and who they are,” said Bruce Pettet, CEO of Airwalk, Denver, Colo. “It’s more than winning an X Games medal, it’s more the everyday life of what athletes do.”
Aside from the fact that they’re launching in print, it is nice to see that they’re sticking with the action photo and a logo creative. That way Andy Macdonald will actually have photos in a skateboard magazine.
[Link: Brandweek]
by The Editors on April 21, 2009
Home products company CHF Industries has just announced that they have signed a licensing agreement with Quiksilver to create “home lines” for Quiksilver and Roxy.
“Partnering with CHF Industries allows us to further our vision of creating a complete lifestyle company,” said Steve Tully, president, wholesale, Quiksilver Americas. . . CHF plans to translate the surfing and boardriding culture of Roxy and Quiksilver into home by using the brands’ mountain and wave logos on products with innovative constructions and colors, said Joan Karron, executive vp, CHF.
Sometimes the easiest revenue is licensing revenue. We’re hoping for a Quiksilver curtains or some Roxy girl sheets (so we can slip into bed with all of them at once).
[Link: Home Textiles Today]
by The Editors on April 20, 2009
A group of 13 people lay down at the capitol building in Denver, Colorado today to remember the 10th Anniversary of the Columbine shootings, including a father who wore the Vans shoes his son was wearing the day he died.
Among them was Mallory Sanders, granddaughter of slain teacher Dave Sanders, and Steve Wewer, godfather of slain student Daniel Mauser. . . Daniel’s father, Tom Mauser, wore the Vans shoes his son was wearing the day he was killed.
“They did not kill their spirits. They did not kill ours, either,” he told the crowd.
[Link: Associated Press]
by The Editors on April 20, 2009
The Salt Lake Tribune profiles their newest local business success in a story titled: Skullcandy Feeds Your Head and discovers that while the rest of the market is falling to pieces all over the place, Skullcandy is rapidly growing.
There’s a rumor that there’s a recession,” said Jeremy Andrus, (pictured right) president of the Utah-based Skullcandy headphones company. “But we’re not feeling it.”. . . In 2005, the company had $1.3 million in sales, while this year it’s on track to surpass the $100 million mark. Last fall, the company had about 30 employees. Today, it has more than 60. . . In 2008, nearly 10 million people purchased Skullcandy headphones, which are sold in more than 60 retailers. That catapulted the company to the industry’s No. 2 spot, second only to audio behemoth Sony. . . Brand loyalty is driving Skullcandy’s growth. “We’re gunning for No. 1,” Andrus said, displaying more of the company’s trademark bravado.
[Link: Salt Lake Tribune]
by The Editors on April 16, 2009
Spy Optic parent company Orange 21 announced yesterday financial results for the year ending December 31, 2008 and though net sales were up 2% over 2007 to $47.3 million, their losses increased from $8 million in 2007 to $15.2 million in 2008.
“The current recession continues to have a significant impact on our sales,” commented Stone Douglass, the Company’s Chief Executive Officer. “The impact is being felt not just in the US, but overseas as well. During these last few months we have reacted swiftly to reduce operating expenditures in all our companies and increase our sales and marketing efficiencies. In addition, we have been seeking new opportunities on a global basis.”
Douglass says that he is excited about some new opportunities in the future, but damn, that losing $23 million in two years seems like a pretty large wall to climb even with the office being closed on Fridays and cutting employee pay by 10 percent.
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You know things are jacked up when Volcom announces that their first quarter profits dropped to more than half compared to last year and the stock still goes up.
