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…]
by The Editors on February 19, 2009
Super model Erin Wasson unveiled her new line for RVCA at the Milk Studios Penthouse space last night (February 18, 2009), according to a story on Heralddeparis.com.
Joined by some of her famous friends at the fabulous Milk Studios Penthouse space, Elle’s Kate Lanphear and Joe Zee, Leighton Meister, Alexander Wang, Coco Rochas, Cory Kennedy, The Cobrasnake himself Mark, and countless other models and models off duty. . . . So break out a pair of baggy cut off denim shorts, black tights, mismatched denim, leather and some crushed velvet for that extra fall touch. Erin’s Fall | Winter 09 will keep you in a Cali spirit, even if your no where near the warm temperatures.
Click through for great photos and poor writing. Or hit Thecobrasnake.com for all the goods.
[Link: Herald de Paris and Thecobrasnake]
by The Editors on February 18, 2009
When the Whiskey Militia site rolled out sometime last year we thought it was one of the coolest concepts to hit online retailing in a while. The site simply sold one action sports item at a time at a ridiculously low price until they were all gone. It mixed a little of the Home Shopping Club with a pop-up closeout store. It’s a model that seems to work well for Backcounty.com.
On February 19, 2009, Whiskey Militia is launching a site that will do the same thing with snowboard gear. The site is called Brociety.com.
Brociety is the new snowboard-only one-deal-at-a-time (ODAT) store, slinging everything from split kits to steezed out one-pieces to buttery jib boards–all at face-melting prices. It’s the pow-lovin version of Whiskey Militia, with one ridonkulous steal after another (50-80% below retail). And it’s strictly for snowboarders. Nothing but endless winter. Whiskey Militia can keep the warm months.
Kind of goes back to the old art as business adage: do one thing and do it well, over and over and over again. Follow the jump for more.
[click to continue…]
by The Editors on February 18, 2009
Apparently Shaun White’s little 90 day test run of clothing in Target stores last summer went pretty well because the uber box retailer is announcing that it has signed the Red Hot Flying Tomato to design a year-a-round collection for the company.
Shaun and Target decided to collaborate again to produce a fashionable line of apparel inspired by Shaun’s life, along with his interest in music and travel. These influences will be reflected in the hand-drawn art and humor infused throughout the line and is epitomized by the return of the skate monster that debuted in the limited edition launch. The collection will be filled with reasonably priced pieces including: denim, hooded sweatshirts, jackets, graphic tees, wovens and shorts.
Maybe this will bust him up past Tony Hawk on the Forbes list, and maybe get him a little more helicopter time for quick trips to his top secret training halfpipe in Silverton.
[click to continue…]
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. . .
