by The Editors on December 19, 2008
Damon Way discusses collabs, DC Shoes, and Incase, with Bradley Carbone celebrities section of the Complex website.
I think it’s important to work with creative people who are operating in a different area of creativity. The industrial design sector is really compelling for me, and it’s a nice lateral move for me to be going from fine artists to product artists.
Damon also hints at a new footwear project that he’s not willing to talk about yet. Wonder if it’s that “new brand” we heard some “ex-DC Shoe employees” were starting. . . makes sense.
[Link: Complex]
by The Editors on December 19, 2008
by The Editors on December 19, 2008
Ogio President David Wunderli announced today that Mark Kuryak, the former VP of hockey at Easton Bell will be the new VP Global Action/Professional/Sport.
We’ve always had the long-term vision of making OGIO the gear bag maker of choice for all categories of sports,” Wunderli explains. “Mark has proven expertise in elevating sales, service and distribution to the level that innovative products warrant. We’re excited to unleash his skills on what we know to be the category with our highest growth potential.
Motocross, snow, skate, and surf go hand in hand with hockey, right? [click to continue…]
by The Editors on December 18, 2008
Looks like we should have jumped in on the $.80 Quiksilver share prices several weeks ago because Quiksilver is fighting its way through some rough times. In their conference call today with analysts they stated that they doing well, but still have a ways to go.
Consolidated net revenues for the fourth quarter of fiscal 2008 increased 3% to $606.9 million compared to $587.3 million in the fourth quarter of fiscal 2007. . . . Consolidated net revenues for the full year of fiscal 2008 increased 11% to $2.26 billion compared to $2.05 billion in fiscal 2007. . . . European net revenues increased 16% during the full year of fiscal 2008 to $933.1 million and were up 4% in local currency.
Bob McKnight says:
I am proud of the efforts of the entire Quiksilver team around the world as we fought through a deteriorating global economy to deliver financial results that were consistent with the outlook we provided 6 months ago. As economic conditions continue to worsen in our key markets in the US and in Europe, we’ve continued our efforts to reduce expenses and capital expenditures, to carefully control inventory and to reconfigure our post-Rossignol capital structure.”
Notes from the conference call:
- Europe has been doing extremely well for the company.
- The DC footwear business has been “quite strong.”
- Sales will be down in the low double digits for the first quarter of 09
- Expecting a revenue decline in the high single to low double digits for 2009
- Every five cent swing in the Euro translates into $30 million in sales.
- Quik will open “very few new stores” in 2009. “Two in the US and maybe 2 or 3 in Asia Pacific and a couple in Europe”
- The company is looking to 25 retail stores. Nine will close in 2009; 21 of the stores are in the US, 12 are full-price stores and 41 percent of those are in California, Arizona, Florida.
- Quiksilver’s top 30 customers worldwide do less than 25 percent of the company’s sales.
- Capital expenditures for the coming year will be cut approximately $34 million from $94 million to $60 million.
- They are looking at every area of expenditure and trying to adjust to a new reality as to the projected 2009 revenue.
- Company debt still in the $1 billion range
- In 2009 there will be $70 million in interest expense
- The company also has a $55 million loan, which CFO Joe Scirocco called “the big one” is due on March 14, 2009
The Street appeared happy with the report as the stock rose 10% in after-hours trading.
For the whole press release, follow the jump, or click here for a transcript, or listen to the whole call right here.
[click to continue…]
by The Editors on December 18, 2008
Anon Optics. Great for snowboarding, even better for shielding eyes from tear gas while attempting to disrupt a government in Greece’s Syntagma Square.
Now where is his photo incentive? (Click photo to enlarge).
[Link: Boston.com]
by The Editors on December 17, 2008
Citigroup analyst Kate McShane sent out a note to investors today in which she outlined some stocks to watch and some to run from. Her favorites:
Those include sports apparel and footwear maker Nike Inc., apparel maker VF Corp., sporting goods retailer Dicks Sporting Goods Inc. and sports apparel and footwear retailer Foot Locker Inc., all of which McShane rates “Buy.”
But she’s not, however, a fan of Zumiez.
Names to avoid include Liz Claiborne Inc. and Zumiez Inc., McShane recommended, due to what she considers “elevated credit risk and uncertainty of business fundamentals.”
We’re not so sure we agree with your police work there, McShane.
[Link: Money.cnn.com]
by The Editors on December 16, 2008
This should be entertaining. This Thursday, December 18, 2008 at 1:30 PST Quiksilver will host a “conference call to review its fiscal 2008 fourth quarter and year-end financial results
The broadcast will be hosted at www.quiksilverinc.com and at www.viavid.net. To listen to the broadcast, your computer must have Windows Media Player installed. If you do not have Windows Media Player, go to the latter site prior to the call, where you can download the software for free.
Get your rig ready and listen up.
[Link: Welt.de]
by The Editors on December 12, 2008
Looks like even a boutique street brand like The Hundreds can end up with a little extra product. But they’re going to use this sale to round up some food for people who need it. Want a deal on $30 screen-printed t-shirt? Bring a can of food and you can hunt for one.
[Link: The Hundreds]
by The Editors on December 10, 2008
The U.K.’s largest outdoor gear retailer Blacks Leisure Group Plc, has agreed to give the U.K. distribution of O’Neill products back to O’Neill Europe according to a story on Bloomberg.com.
O’Neill Europe will take over the British wholesale business by the end of May, Northampton, England-based Blacks said today in a statement. The entire current sales force will transfer as well, it shows. . . . The retailer runs 57 Freespirit and O’Neill board-sports shops as well as 260 Millets stores and 110 outlets carrying its own name. Blacks aims to remain a “key retail partner” for O’Neill after the wholesale transfer, the statement shows.
[Link: Bloomberg]
by The Editors on December 10, 2008
Real Simple, a magazine one Time Inc. editor once described as “the dumbest magazine ever printed” lived up to its reputation in their December issue when, in an article titled 50 Gifts Under $50 For Mothers, Sisters, Best Friends, they told 1.9 million readers that a Nixon Vega Watch was available at Target for $40. It’s not. They ran this retraction online:
Unfortunately, this item is not available for $40 at Target, as printed in the magazine. Real Simple readers can purchase it exclusively for $50 ($10 below the retail price) at nixonnow.com.
Now, Real Simple’s screw-up becomes a holiday gift savings for all of us. Thanks.
[Link: Real Simple and Nixon]
Damon Way discusses collabs, DC Shoes, and Incase, with Bradley Carbone celebrities section of the Complex website.
