by The Editors on December 5, 2008
After Billabong CEO Derek O’Neill cut the companies outlook (blaming the U.S. retail economy) earlier this week the stock took a tanking, according to the Sydney Morning Herald.
Shares in Billabong have plummeted more than 21% since chief executive, Derek O’Neill, cut his profit outlook yesterday and said the worldwide retail gloom was the worst he had ever seen. . . .Stocks fell 18% to $8.20 yesterday, the largest decline since it listed eight years ago. Billabong’s share price was down more than 3% to $7.94 at 12.50pm today.
These kinds of stories really aren’t news any longer, but we’re going to keep posting them for historical purposes.
[Link: Sydney Morning Herald]
by The Editors on December 4, 2008
by The Editors on December 4, 2008
They weren’t as far down as Zumiez, but Pacific Sunwear’s same-stores sales slide 10 percent in November “citing sales decreases in all of its regions except the midwest:” the action sports fashion gold belt.
Total sales for the month fell 8 percent to $101 million from $110.2 million in November 2007. . . . For the first 11 months of the year, same-store sales fell 4 percent. Total sales fell 2.9 percent to $1 billion from $1.03 billion during the same period last year.
[Link: Portfolio]
by The Editors on December 4, 2008
After Adidas Group Chairman Herbert Hainer emailed his 31,000 employees to let them know that the footwear giant would be skipping their $6.5 million holiday party this year thanks to the “current climate” not offering an “occasion to party,” the heads at Etnies decided it was time to step in and help their downtrodden footwear brothren.
In a full page ad in Willamette Week, Etnies invited the employees of Adidas to a Christmas party at My Father’s Place Bar including “special appearances by Santa Claus and his lovely lady elves.”
It is in the holiday spirite that the skateboarders and employees of etnies Skate Shes extend a warm and sincere invitation to the skateboarders and employees of Adidas USA to joing us in a symbolic “laying down of arms” for one joyous night, that we may come togethe and reflect upon life’s gifts as we share good cheer, celebrate the season and kick the new year off on a solid foot.
Nice. But now the big question: will anyone show up? Free beer does tend to draw a crowd. Either way it made CNBC and that’s probably worth the cost of the ad. Click here for the video.
by The Editors on December 4, 2008
Justin Heit has followed what seems to be a classic career path in the world of action sports: surfer, magazine designer, graphic designer, agency owner, and now, with RAEN a brand launcher.
According to an interview on Surfing the Mag, Justin certainly knows how to speak the language.
There is so much product out there that exists for the wrong reasons. Being a successful brand in this marketplace during this generation is more than creating a product to sell and be purchased. R A E N Optics strives to make an emotional connection with our demographic by creating a relationship touching on the ideal, yet realistic, lifestyle of our friends. We are not about excess. We are about giving people a timeless, tangible and quality item to function in their active lifestyle.
Damn, our heads are spinning. For more elevated aesthetics peep the rest of the interview.
[Link: Surfing The Mag]
by The Editors on December 3, 2008
Billabong is letting investors know that for the second straight year their first-half earnings-per-share are going to fall according to a story on Bloomberg.com.
Slowing demand in the U.S. “has accelerated throughout November,” Gold Coast-based Billabong said in a statement today. The company cut its forecast for annual EPS growth between 6 percent and 10 percent in the year ending June, down from an October prediction for a rise of as much as 16 percent. . . . The reduced annual EPS forecast comes less than six weeks after Billabong raised earnings expectations citing a slump in the Australian dollar.
It appears the U.S. economy is causing more problems than a slumping Australian dollar can make up for.
[Link: Bloomberg.com]
by The Editors on December 3, 2008
The core mall retailer Zumiez came in a little ahead of the street on their November same-store sales numbers according to a story on Forbes.com.
Zumiez Inc. said on Wednesday same-store sales fell 15 percent in November, compared with an increase of more than 5 percent in the year-earlier period. . . . Analysts polled by Thomson Reuters expected sales to fall 15.3 percent.
Net sales, however, only fell 2 percent to $32.6 million and the stock was up on the day (not that the two things had much to do with each other).
[Link: Forbes]
by The Editors on December 2, 2008
by The Editors on December 2, 2008
The Daily Pilot, “serving Newport Beach & Costa Mesa, California” has discovered that RVCA is moving into a new space next month (the old Paul Frank space) and they did something we didn’t do last month: they got the low-down straight from founder Pat Tenore.
His determination to stay on the Westside of Costa Mesa — a location that has served as an incubator for several of the biggest surf and skateboard fashion companies in the country — led him to the 70,000-square-foot Paul Frank building less than a mile from his present address. . . . “We want to stay close to where we started and close to the beach,” Tenore said. “And it’s really hard to find a building in this area because a lot of the area is being turned into residential.”
Right on, but what about the bowl?
[Link: Daily Pilot]
by The Editors on December 1, 2008
By most cursory observations the Airwalk brand continues to live on, though closer inspection suggests that it is more undead than alive. The most recent evidence is that “designer and street style icon, jeffstaple [yeah, that’s his tag: no space], chief designer of Staple Design” has announced “a multi-year agreement” to create exclusive Airwalk seasonal collections for fall and spring exclusively available at Payless Shoe Source under the STPL) 4 Airwalk brand.”
Payless is democratizing the latest ideas in footwear by making them accessible and affordable to all. I am very excited to join in this philosophy and approach,” said jeffstaple. “When I was growing up and busting my butt trying to skateboard, Airwalk and the essence of the brand was such a huge influence. The design Sneakerhead in me today is really excited to create fresh new silhouettes that embody the skate park and the street.
When a guy who has done great work for Nike, Burton, and Sony Playstation begins reanimating brands for Payless Shoe Source it’s got to be a case of. . . well . . . paying the bills.
[Link: Denver Post]
