by The Editors on October 25, 2012
Amer Sport the Helsinki, Finland based parent company of Salomon, Bonfire, and Nikita reported their financials for the quarter ending September 2012. Profits appeared flat versus 2011 with net sales increased by two percent, and unfortunately winter hardgoods sales were down by 12 percent, according to Marketwatch.
“Our Q3 sales were driven by strong on-going momentum in Apparel (27% growth), as well as continuous improvement in Suunto (+24%), Fitness (10%), Tennis (+8%) and Cycling (+7%),” said Keikki Takala, president and CEO of Amer Sport. “As expected, Winter Sports Equipment declined in line with the previously communicated low pre-orders, despite our strengthened market position.”
Guess their trouble in winter sports equipment is old news. For the official word and all the numbers click the link.
[Link:Marketwatch]
by The Editors on October 24, 2012
No one expected Billabong founder Gordon Merchant would go away quietly, but it was interesting to see him sink nearly AUS$800,000 more into the company by snapping up 900,058 shares last week. This new stock, purchased in two buys on October 18 and 19, 2012, brings his total holdings to 69,705,463 shares or AUS$59,946,698.18 worth (maybe he need them to increase his voting power).
At Billabong’s Annual General Meeting today (October 24, 2012 on the Gold Coast) Merchant was re-elected to the board by a vote of 198 million for to 92 million against. Collette Paull was re-elected by a vote of 197 million for to 92 million against. The closest board re-election race was Billabong US President Paul Naude. He slipped back onto the board with 160 million for and 129 million against suggesting that more than a few shareholders are not happy with his performance on the board.
For the official word from Billabong featuring that addition of Howard Mowlem to the board and the complete Annual General Meeting voting stats, follow the jump. [click to continue…]
by The Editors on October 23, 2012
Here’s the short version: Analog is going snow and moving back to Burlington. The snow team will stay, but the skate and surf teams will be “transitioned out of the brand”. Gravis is moving to Tokyo and going Asia only as a lifestyle brand. The team will be “restructured to accommodate” that market. Helmet’s and optics will be combined under the Anon brand (with some Red still being produced). Burton will “exit out of” The Program brands (Special Blend, Forum, and Four Square) by 2014 (good-bye). Burton has operated the brands for eight years yet, “the businesses have failed to be viable.” In the surf world Channel Islands and it’s team remain unaffected.
Here’s what founder Jake Burton Carpenter has to say about it:
“Burton has experienced several years of income growth since the recession and paid out bonuses to employees over the last two years,” said Jake. “That said, the economy has a voice of its own that we all have to listen to, and the message is clear: do what you do best and focus purely on it. In our case, that means to narrow our focus to the sport and lifestyle that got us here – snowboarding. We will continue to support Channel Islands in its endeavor to make the best surfboards in the world and Gravis in its new home in Japan, but when you walk through the front door here in Burlington, Vermont, it will be all snowboarding and snowboarding lifestyle all the time – driven by the Burton, Analog and anon brands.”
Sound like a good plan all around and honestly, we can’t believe it took them so long with Gravis and the Program. Burton went far beyond a reasonable investment in many of their brands and should be commended for trying to make them work in spite of market response.
Follow the jump for the official word an complete breakdown of the changes. [click to continue…]
by The Editors on October 22, 2012
Looks like the Frends headphone line has swerved from its former mission of only targeting dirty shreds to also offering a high-end fashion headphone line specifically aimed at women. The website update features super models and glossy photos from photographer Kenneth Capello to help make the push. Girlfrends?
The new headphones feature “jewelry inspired designs, genuine leather and hand crafted metal, soft touch fabrics, memory foam ear cushions and premium 40 mm drivers.” The Taylor Rosegold headphone sells for $199. The Ella Gold earbuds sell for $99.
Well, the product looks solid and they are differentiating themselves from that other headphone company. Oh, wait. . .
[Link: Frends]
by The Editors on October 22, 2012
The Australian Shareholders Association was forced to take back a few things it said about why Billabong founder Gordon Merchant and Colette Paull should be voted off the board after Billabong’s largest shareholder had lawyers contact the ASA, according to a story in the Sydney Morning Herald.
The ASA has now said: ”It was not correct for the ASA to state that Mr Merchant ‘effectively prevented’ the board from ‘accepting an offer of $3.30’.” . . It also accepts that the board made a unanimous decision not to allow due diligence by TPG when it made a $3.30 a share indicative offer and said: ”It is incorrect for the ASA to suggest that Mr Merchant should have known of any ‘perilous financial position”’ before his decision to reject the original offer in February.
With those retractions the ASA still believes Merchant and Colette Paull should be removed from the board for the good of the company.
[Link: Sydney Morning Herald]
by The Editors on October 22, 2012
Don’t let the financial trouble at Billabong and Quiksilver suggest that all is not well in the action fashion industry. There’s no problem if you’re VF Corp. In financial results released today VF says they’re total revenues are up 14 percent, their gross margin is up to a record 46.7, their operating margin has reached 17.5 percent and that all adds up to a record quarter. And the “Outdoor & Action Sports group helped out.
Excluding Timberland, Outdoor & Action Sports operating income rose 16 percent and operating margin increased 220 basis points to an all-time high of 25.7 percent compared with 23.5 percent in the 2011 period. On a GAAP basis, operating income for the coalition increased 29 percent with a flat year-over-year operating margin, reflecting the impact of Timberland. . . Double-digit constant dollar revenue growth in Outdoor & Action Sports should continue in the fourth quarter, driven by strong performance by The North Face® and Vans® brands. Both brands should benefit from new store openings, and comp store and e-commerce growth, supported by higher levels of marketing spending in key regions. For the full year, Outdoor & Action Sports revenues are expected to grow at the higher end of the 25-30 percent range provided in February 2012, with constant dollar organic revenues growing at a mid-teen percentage rate.
Take that everyone else. Follow the jump for the rest of the official word, or click here for full financials. Oh, and as usual Reef did not even earn a mention in the quarterly report. [click to continue…]
by The Editors on October 19, 2012
There are some pretty serious hitters in this little edit offering from Stance. See if you can spot them all. . . the uncommon thread, indeed.
[Link: Stance]
by The Editors on October 18, 2012
The surf wear giant Quiksilver is reportedly expanding its online retail presence with stores inside eBay’s Fashion Mall, according to a story on Insideretailing.com.au.
Gary Wall, GM of Quiksilver Australasia, said the move reflects the ongoing evolution of the online marketplace. . . “It is important to understand that eBay has evolved from an auction and secondhand marketplace to a serious full price channel and today the majority of eBay listings are fixed price and new product sales,” Wall said. . . “EBay is one of the biggest online clothing sellers and customers have been purchasing our products on eBay for many years but unfortunately from unauthorised sellers where we cannot guarantee authenticity of the product or appropriate customer service levels.
eBay would seem to streamline right in with Quik’s TJ Maxx, Ross, and Tuesday Morning distribution channel.
[Link: Insideretailing]
by The Editors on October 18, 2012
Worried about not getting a large enough dose of Rob Dyrdek in your vein’s this holiday season? Would you like him up and rubbing all over your body? Soaking up your sweat? Massaging your feet and, keeping you sheltered from the coming storm? Fret not young fashion victim, the international skateboarding promotional celebrity sensation is dropping an entire collection of DC shoes product just in time for your mall shopping pleasure domes.
Designed exclusively by Rob Dyrdek, the collection is inspired and driven by the DC legacy of classic athletic skate heritage. Within the entire Dyrdek Collection there are two signature shoes and five mini apparel collections: The Alumni Collection, Baseline Collection, Covert Collection, Heritage Collection, and USA Collection, each with their own individual take on Rob’s signature style.
For more information (and photographic evidence) on this groundbreaking collection of Dyrdekness, follow the jump. [click to continue…]
by The Editors on October 18, 2012
Interior decorators hoping to tap into modern youth design (and maybe spice up junior’s Pottery Barn room) have created a skateboard pendant light, according to a post on Technabob.
Though with its thin 24″ acrylic deck and narrow aircraft cables suspending it from its chrome canopy, I wouldn’t recommend trying to hop on it, unless you’re a hamster – or maybe a kitten.
Thing would probably look great hanging over a chrome and smoked glass dinning room table, too. We picture the table surrounded by hairy, mustachioed men in leisure suits and women in flouncy polyester Donna Summer dresses. Yes, the 70 are back. The light is available from eLights for only $178.00.
[Link: Technabob]
Amer Sport the Helsinki, Finland based parent company of Salomon, Bonfire, and Nikita reported their financials for the quarter ending September 2012. Profits appeared flat versus 2011 with net sales increased by two percent, and unfortunately winter hardgoods sales were down by 12 percent, according to Marketwatch.
