by The Editors on September 19, 2008
Globe International Limited released their 2008 annual report today. And while the document contains loads of interesting information (like the fact that the company suffered a $24.6 million net loss in fiscal 2007/2008) we dove straight to the “Key Management Personnel And Top 5 Remunerated Executives” section (page 34), because we love knowing how well our friends are doing.
Here is the breakdown of salaries plus cash bonuses:
Matthew Hill $948,222
Chief Executive Officer
Matthew Wong $554,490
President – Europe
Gary Valentine $433,271
President – North America
Marc McKee $421,263
Graphic Designer
Bod Boyle $381,507
President – Dwindle
John Sherwood $344,879
Vice President – North American Sales
Steve Douglas $233,129
President – Australia
Jessica Hogan $213,129
Chief Financial Officer
Gerhard Correa $154,700
Company Secretary
And this “salary transparency” is just one of the reasons that it sucks to work for a publicly traded company. Though, it obviously doesn’t suck that much for many on this list.
[Link: Sydney Morning Herald]
by The Editors on September 15, 2008
Analysts at Piper Jaffray & Co. downgraded Zumiez today saying that the companies shares have “surpassed our target objective” and are “trading essentially in line with the long-term earnings growth rate” and they’re giving Zumez a “neutral.”
We expect shares to trade in range into the 1H of 2009 and would recommend adding to positions on sector pullbacks – longer-term, ZUMZ offers a superior investment profile. Our 2-3 year outlook remains positive, tied to square footage growth, solid category trends, and the company’s ability to orient its merchandise to evolutions in lifestyle cycles. We’ve re-set our 12-month price target to $18/share based on 20x FTME EPS (FQ4-FQ3), in line with the company’s LT earnings growth rate.
Sure, fine.
[Link: Street Insider]
by The Editors on September 15, 2008
by The Editors on September 15, 2008
As we overhead someone say last week, “Ol’ Naude has had a pretty good year.” And we would agree. According to a report in Australia’s The Age Billabong’s Paul Naude unloaded a few shares last week:
Last Monday he sold 250,000 shares at AUS$13.35 each. The AUS$3.3 million was the most he had raised from share sales for quite a while. . . . Last year he disposed of 100,000 at AUS$15.52 a share, while going right back into history — March 2006 — he raised AUS$2 million when he flogged 125,000 shares at AUS$16.06 a share.
Taking a little money off the table probably isn’t a bad idea right now.
[Link: The Age]
by The Editors on September 13, 2008
Wonder why we never see product from Hollister on sale at CostCo?
by The Editors on September 9, 2008
When we look back at our time at the fall ASR Show we think of all the great things we missed: the people we didn’t talk to (like Hurley’s Bar Rafaeli, the skateboarding we didn’t see, and the amazing product that we missed. But then we realize that at least we have these photos to remember the show a by.
Follow the link for more photos and captions.
[click to continue…]
by The Editors on September 8, 2008
It may have been held September 4-6, 2008, but this ASR show felt a lot like a typical January show in terms of size and scale. Still the must-attend trade show of the season, this year buyers, retailers, and exhibitors were gritting their teeth and smiling through a show that comes in the midst of a sliding U.S. economy.
At the surface, things seemed status quo—models in skimpy swimsuits handing out flyers, a full beer garden, after-show parties, and free-flowing drinks come 5 o’clock. But spend more than five minutes talking to nearly anyone on the floor, and the word recession rose quickly to the surface.
“I’m one of the few people here old enough to remember the last real recession,” says Jeff Harbaugh, market analyst and industry consultant. “It’s bad, and it’s going to be a while before we see the end of this one.”
Even those booths and brands who seemed unaffected were keeping their guard up. “As quickly as it comes, it can go,” says SkullCandy’s Luke Edgar in reference to his brand’s current meteoric popularity. “It’s especially important in hard-economic times to keep our heads down, be humble and treat our retailers with respect, and keep charging ahead.”
Click continue for the rest of the story. . .
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by The Editors on September 8, 2008
We hate to say it, but anyone who thought the 80s revival was over is thankfully wrong. Who would think that anyway?
From the look of some of the products on the floor at the September 2008 ASR show, the neon wave is just beginning to peak. Which is great for those who lived through it the first time. And even more fun for kids who’ve never seen color before.
Funny thing is: we like it all. Bright colors are rad. Video games are rad. And, the Dragon Domos (pictured above) are totally rad.
Follow the link for a few more rad things we saw at the show
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by The Editors on September 8, 2008
Some pretty large brands were missing from the ASR show floor this September. While a few disappeared from the San Diego trade show scene completely (Analog, Podium), others like WESC, Nikita, Sole Technology, Gravis, Supra, and 686 all opted for little stalls at the Agenda Trade Show.
Located less than a mile away from the San Diego Convention Center in the San Diego Concourse, Agenda is five and half years old and has shadowed ASR’s dates eleven times. But this is the first time we’ve ever made it over to see the much talked about show in person.
This year Agenda featured 107 brands (The Hundreds, Cre8tive Recreation, Crooks & Castles, Obey, etc. . . ) which cater to the T-shirts and sneakers boutique crowd.
Agenda likes getting people from ASR to come over for a visit. They like it so much that they have 12 limos running all day to shuttle “guests” back and forth between the shows. The limos were hot and stinky and the “10 minute ride” seemed much longer.
More story and photos after the jump. . .
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by The Editors on September 8, 2008
After all those times we’ve been hassled by the man while trying to get a skateboard on an airplane without checking bags it was great to see the new Incase P. Rod skateboard bag at San Diego’s Agenda trade show. This thing is the perfect bag for skate travel and while we’d seen it popping up on all the hype sites, it is much better in person.
And this is just one of a well-thoughtout three-piece line that includes an overnight bag and a skate backpack. It will all be available in October.
[Link: Incase]
Globe International Limited released their 2008 annual report today. And while the document contains loads of interesting information (like the fact that the company suffered a $24.6 million net loss in fiscal 2007/2008) we dove straight to the “Key Management Personnel And Top 5 Remunerated Executives” section (page 34), because we love knowing how well our friends are doing.
