by The Editors on March 2, 2009
Malakye.com, the action sports job site that is difficult to pronounce and even more difficult to spell has an interview with Shop-Eat-Surf.com founder Tiffany Montgomery in their Industry Profile section. Here’s a little bit of the story behind the site:
The site started as an experiment. Given the cutbacks at newspapers and in journalism in general, I thought there was room for a news site. Originally, I planned to write about the business of retail, the business of restaurants and the business of the surf industry based in Orange County – basically, what I covered in my last reporting beat at the paper. That’s why the site has a strange name. . . . The surf and larger action sports industry was so responsive from the get go, I quickly dropped the other topics. And, I liked the stories in the surf industry the best. I still am amazed that this group of people with basically no business experience was able to build a globally influential industry by following their passion.
Ms. Montgomery is obviously an avid and skilled reporter who keeps very close tabs on what goes on behind Orange County’s Velcro Curtain. The site is updated hourly and is a much needed source for industry news. She does it all so politely and professionally, however, that we rarely find anything compelling to read.
[Link: Malakye.com]
by The Editors on February 27, 2009
In the latest of a string of bizarre announcements to come out of Redmond, Washington Microsoft is now launching a clothing line called Softwear (get it?) that:
” . . . taps the nostalgia of when PCs were just starting to change our lives. With retro logos, classic photos and geek-chic igonography, these pieces showcase the DOS days of the software company that now connects over a billion people.”
The clothing will be sold at the seemingly recession proof Urban Outfitters and is being designed in collaboration with the rapper Common. There certainly is no worse time to launch a clothing line.
[Link: Softwear via Neowin]
by The Editors on February 26, 2009
The Dallas Observer has posted a photo tonight of Quiksilver employees closing up the store at Ross Perot Jr.’s Victory Plaza.
Quiksilver, among the first tenants in the Hillwood project, would be closing sooner than later, as word was the place would go days without posting a single sale. Well, that sooner is now — actually, February 22.
It’s sad to see dreams die. Then again, it’s only one store and there are at least 400 more where that one came from.
[Link: Dallas Observer]
by The Editors on February 26, 2009
Deckers Outdoor Corp. the parent company of Ugg, Simple, and Teva footwear, saw sales in the fourth quarter surge 56.3 percent from $194.2 a year ago to $303.5 million this year thanks almost entirely to the sales of Ugg products if you can believe it. Talk about a market bucking brand. . .
UGG brand net sales for the fourth quarter increased 62.0% to $288.0 million compared to $177.7 million for the same period last year. The significant sales gain was driven by increased orders for fall and holiday product from domestic retailers, international distributors, and higher sell-through rates at company-owned retail locations and on its eCommerce website versus a year ago. For the full year, UGG brand sales increased 67.5% to a record $582.0 million versus $347.6 million in 2007.
More proof that good taste has nothing to do with footwear sales.
[Link: Sports One Source]
by The Editors on February 26, 2009
We may have been a little tough on Quiksilver lately, but one thing we’ve never questioned is their commitment to surfing. Market forces have worked against the company in recent months, but that has done nothing to slow their sponsorship of the Quiksilver Pro and the Roxy Pro at Snapper Rocks. According to a story on Goldcoast.com.au, Quik has committed to sponsor the events for another nine years.
The announcement was made by contest director Rod Brooks yesterday at the official media launch with surfing elites such as Kelly Slater, Mick Fanning and Stephanie Gilmore looking on.
[Link: Goldcoast.com.au]
by The Editors on February 25, 2009
The LA Times looks for answers to the question: what happened to the surf fashion industry? Writer Andrea Chang catalogs all the year end reports we’ve linked to lately and talked to Quiksilver’s Bob McKnight, Huntington Surf & Sport’s Aaron Pai, ASR’s Andy Tompkins, Tanya Turner at Jacks in Dana Point, Sport Chalet’s CEO Craig Levra, and longtime surfer Mike Dumitras, 30, who paid a friend $20 for an old Hurley wetsuit and patched it with duct tape rather than buying a new one.
Bob McKnight, speaking from beneath Quik’s billion dollar mountain of debt, says they are prepared: “We’ve been through a couple downturns like this, so we know what to expect,” McKnight said. “But this one is certainly worse than anything we’ve seen.”
So what is the answer? Where have all the consumers gone? Turns out the economy is bad and people like Mike Dumitras just aren’t buying as much stuff as they were a year ago. Dammit, Mike. Would you buy a new wetsuit already. We’ve got an entire industry waiting.
[Link: LA Times]
by The Editors on February 25, 2009
We’ve been fans of Felt Bicycles for a short time and of cruisers in general forever, so this new collab with Hurley looks pretty good for a Nike bikie.
Hurley’s world-class design team partnered with Felt Bicycles to create a limited-edition cruiser capturing the essence of Hurley surf style and culture. Hurley’s most recognized and sought-after “Puerto Rico” plaid, popularized on surf trunks worn by the likes of pro surfer Rob Machado, has inspired the new Hurley “PR” cruiser.
[Link: Felt Bikes via Mesurf]
by The Editors on February 20, 2009
Check out the images from Billabong’s Design For Humanity runway show/party in Sydney, Australia on February 18, 2009. Looks like the high fashion nobs were turned up a little on this one.
[Link: Celebuzz]
by The Editors on February 19, 2009
Billabong profits are down 7.1 percent in the “first half” thanks to the US economy, according to a story on News.com.au. Not knowing all the much about currency markets it’s always funny to hear companies saying things like this:
“While the company has experienced margin erosion in its biggest division, the Americas, the effect is being partially offset by strong appreciation in the US dollar against the Australian dollar,” Billabong chief executive Derek O’Neill.
So, if we’re hearing this properly, sales in the US are down, but luckily for Billabong the Australian dollar is going all to hell. Good times in international business, huh?
[Link: News.com.au]
by The Editors on February 19, 2009
The economy didn’t seem to pull Volcom down too much last year according to their 2008 Q4 and full year results released this afternoon. Total consolidated revenues for 2008 were up 25 percent, and probably the best news: “the company generated $24.7 Million in operating cash flow,” has $79.6 in the bank with absolutely no long-term debt. Wooly explains it:
“While the ongoing global macroeconomic turmoil affected our results for the 2008 fourth quarter and full year, the underlying strength of Volcom is well intact,” said Richard Woolcott, Volcom’s chairman and chief executive officer. “In the face of this economic uncertainty, we are working to maintain a healthy balance between being aggressive when we see opportunities and pulling back where we can, including reducing our cost structure. We have a solid cash position and a strong global brand with a devout following. Further, we believe that our product line-up for 2009 is one of our best ever. We plan to approach the year with discipline, commitment and focus, and we remain confident in our ability to ride this period out and prevail as an even stronger company.”
According to the OC Business Journal, however, moving into 2009 things aren’t going so well. Volcom “warned of a big shortfall in profits and sales for the current quarter” . . . projecting “a profit of $3.1 million to $3.9 million for the current quarter, well below the $6.3 million analysts had been forecasting.” That may explain why they cut eight percent of their employees and are giving many others reduced pay.
We would have listened to today’s conference call, but apparently the Volcom audio server doesn’t like Macs, or maybe it’s just us.
For all the press release details follow the jump, or click here for a complete transcript of the call from Seeking Alpha.
[click to continue…]
Malakye.com, the action sports job site that is difficult to pronounce and even more difficult to spell has an interview with Shop-Eat-Surf.com founder Tiffany Montgomery in their Industry Profile section. Here’s a little bit of the story behind the site:
