Wall Street

SnoCon Done: A Northwest Institution Closes

by The Editors on July 27, 2014

snocon_2014We were saddened to learn on Friday July 25, 2014 that after 24 years, Seattle’s longtime core action sports retailer SnoCon is closing its doors. It is a northwest snowboard institution whose influence on the sport and core retailing will be missed greatly industry wide. Founder John Logic, notified staff on Friday that their final work day would be the following day, Saturday July 26.

Tough retail conditions are largely to blame according an email from Logic, “[SnoCon] tried to get right for five years, after 17 golden ones, but they couldn’t right the ship,” he said. “Even an upside down boat will float. It’s just not much of a party cruise, ya know?”

For the rest of the story, please follow the jump.

[click to continue…]

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IOC Selects ISF For Olympic Skate Showcase

by The Editors on July 24, 2014

0707-Yog-Sportslab-Skate

The International Olympic Committee apparently not only know that skateboarding exists (finally) they are interested in showcasing the activity at this summer’s Youth Olympic Games in Nanjing, China August 17-27, 2014. And they’re leaving the logistics up to the International Skateboarding Federation.

“We’re honored that the IOC has chosen the International Skateboarding Federation to present world-class skateboarding on such a global stage as well as in front of the Olympic leadership,” said Gary Ream, President of the ISF. “We’re appreciative of the support given to the ISF from nearly every corner of the international skate community as we show the unique excitement that skateboarding offers and also that we may leave the skatepark as a legacy for area skateboarders and kids that we are able to turn on to skateboarding.”

Woodward always seems to have some skin in the Olympic games, right? For the official word from the ISF, follow the jump. [click to continue…]

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Agenda NYC July 21-22, 2014

by The Editors on July 17, 2014

Ny14Summer-Image

Thought you just did the Agenda Show? Oh no, you’re not done yet. The best Agenda Show, at their new NYC Javits Center North location rolls out Monday and Tuesday, July 21-22, 2014 and there is still time to register.

Agenda:NYC occurs twice a year during New York Men’s Market Week. During this week, a total of seven trade shows take place and the city is inundated with thousands upon thousands of men’s fashion buyers, media and tastemakers. One of the more intimate gatherings in scale, the Agenda:NYC show takes place in the heart of Manhattan, and hosts around 250 brands across roughly 100,000 square feet.

Want to know more? Click the link and be enlightened.

[Link: Agenda NYC]

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Wasatch Equality Could Use Your Help

by The Editors on June 6, 2014

Skullcandy founder Rick Alden explains the Alta situation quite succinctly in this edit. But here’s a little more:

Wasatch Equality began as a grassroots movement of individuals, families, and businesses committed to ending the anti-snowboarding policies at Alta Ski Area that have defined the resort since the early 1980’s. Long after the rest of the winter community has come to recognize snowboarding, it’s hard to believe there’s still an argument being made against the sport. . . By convincing Utah’s hold-out resorts to open their lifts to everyone, friends and families will be able to exercise their legal right to enjoy public land, regardless of how they choose to get downhill.

If you’d like to help Wasatch Equality in their efforts to open Alta Ski Resort to snowboarding, please click here to donate.

[Link: Wasatch Equality]

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Quiksilver Stock Drops 27% After Hours

by The Editors on June 2, 2014

Quik Logo10Quiksilver’s big plans to turn the company around with the help of former Disney Consumer Products chairman Andy Mooney don’t seem to be working out so well if financials for the quarter ending April 30, 2014 are any indicator. Analysts expected Quiksilver’s loss for the most recent quarter to be in the in two cents a share range, but the loss last quarter was 15 cents a share. A year ago it was only a 12 cents a share loss, according to a story on MarketWatch.
How are Mooney’s plans working? Take a look at this:

During the latest quarter, sales at its namesake brand declined 7% to $167 million excluding currency impacts. At its Roxy brand, sales dropped 6% to $121 million, and DC brand sales fell 19% to $103 million, also excluding currency fluctuations.

In addition to losing Kelly Slater (who now looks like he got out just in time) Quiksilver lost $53.1 million in the last quarter, up from $32 million during the same period a year ago. And it appears the worst is not over.

The company expects that the general sales trends of recent quarters will continue into the second half of the fiscal year, with continued net revenue declines in the North America and Europe wholesale channels being partially offset by net revenue growth in emerging markets and e-commerce.

Where do they go from here? Seriously? Quiksilver Princess Division?

[Link: MarketWatch]

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Where To Spend Your Advertising Dollars

by The Editors on May 30, 2014

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Well, it’s no surprise, but according to a story on GigaOm, Kleiner, Perkins, Caufield, Byers partner and long-time internet analyst Mary Meeker says it’s very likely that you’re way over-spending on print advertising and not investing enough in mobile, based on how much time people sent with each media in 2013.

Last year, print got just 5 percent of the overall time spent on media, but it pulled in almost 20 percent of the overall advertising revenue.

In other words, Mobile and Internet should get the bulk of your spend. In fact, this chart offers a pretty easy breakdown of where all your dollars should go in general. You can view Meeker’s entire 2014 Internet Trends deck here.

[Link: GigaOm]

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Nick Woodman Buys In At Rocky Point

by The Editors on May 28, 2014

Nick WoodmanIt appears that North Shore surfers will have a new neighbor at Rocky Point soon as the Honolulu Star is reporting that GoPro founder Nick Woodman just spent close to $9 million of the company’s pre-going-public dollars for a 66-year-old house and a 31,000 square foot vacant lot on Ke Nui Road, according to a story on BizJournals.

The newspaper reports the buyer’s agent, Lora “Bitsy” Healey, whose son is big-wave surfer Mark Healey, declined to reveal her client’s identity.

This purchase is reportedly the most someone has paid for a vacant lot on the North Shore. That’s not a bad way to flow some money into the local community.

[Link: BizJournals]

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PacSun Borrows New Ad Campaign

by The Editors on May 23, 2014

Epss Pacsun

The entire fashion world is based on clever carbon copy cloning. Big business lets the little brands do all the work and then when something starts trending they roll in and knock it off. Now, that’s what LA based micro label Echo Park Surf Squad is accusing our least favorite action sports mall retailer PacSun of doing.

Today (May 23, 2014), PacSun launched their new Golden State of Mind advertising campaign which features a slew of images of waves Photoshopped into photos of iconic locations where waves shouldn’t be. According to a post on Reddit this adding waves to photos is something EPSS has been doing for over a year. Above is photo evidence: top photo is EPSS’s original. Bottom photo is a PacSun knock off.

Here’s what EPSS says:

We’ve been a brand with integrity, sewing and making our clothes from scratch in Los Angeles since early 2012 and slowly building. It started off as a joke, us photoshopping a wave in Echo Park Lake and we just laughed. My friend and co-founder have been posting photos like this regularly on our Instagram account since then. . . Cut to May 23rd, 2014 (today) and I wake up to a bunch of emails saying Pac Sun lifted our entire campaign, our entire theme for themselves. . . Please help us get the awareness out there and know that NONE of your creative ideas are sacred.

We feel for EPSS, but also aren’t missing the irony of their complaints when most of their products are based on borrowed art/logos (Santa Cruz Skateboards, Powell, Suicidal Tendencies, Huntington Beach, etc. . . ) That doesn’t excuse PacSun’s “creative team” from blatantly ripping them off, but remember, PacSun’s highly paid marketing and design professionals are on deadline and under pressure. They can’t be expected to come up with their own ideas. That would be much too time consuming and in teen fashion it’s all about speed.

[Link: Reddit]

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Dyrdek’s New Street League Partners

by The Editors on May 19, 2014

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Boston Celtics managing partner Wyc Grousbeck, left, stands with venture capitalist Bob Higgins, center, and team co-owner Mark Wan.

When Rob Dyrdek discovered he had “maxed out on. . . resources” for his Street League Skateboarding franchise, he did what businessmen have been doing for years: he looked for some new money. He found it in the form of $4 to $5 million dollars from Causeway Media Partners. They’ve owned the Boston Celtics since 2002 and they’re looking to expand into other sports, according to a story in the Telegram.

”Skateboarding’s not a very expensive sport to pick up. It doesn’t require you be a part of a team,” said Causeway co-founder Mark Wan, who is also a part-owner in the Celtics and the San Francisco 49ers. ”That’s one of the goals of street league is to make this really accessible.”

See, if Dyrdek can get enough people flowing money into his project now then he’ll be able to make a big exit later while things are still on the up. That’s how business works. For the rest of the story, click the link.

[Link: Telegram]

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USSA Outsources Tour Sponsorship Sales

by The Editors on May 19, 2014

Kings LogoThe U.S. Ski and Snowboard Association announced today that they have outsourced the sales of its “property and intellectual rights within the USSA portfolio, notably U.S. Snowboarding and U.S. Freeskiing events in the Sprint U.S. Grand Prix tour,” to the Sacramento Kings basketball team’s ownership group Sacramento Basketball Holdings, LLC because, you know, basketball and snowboarding sponsorship sales go together like slam dunks and triple corks.

“Our partnership with Sacramento Basketball Holdings offers a unique opportunity to benefit our free skiing and snowboarding athletes by expanding the reach of the Grand Prix series,” said USSA Chief Marketing Officer Michael Jaquet. “What’s especially valuable for us is Sacramento’s close proximity to Lake Tahoe, which is a vital region to our sport. The excellence that Sacramento Basketball Holdings, LLC has built within the market in such a short span of time will make this a valuable program for expanding the reach of our Grand Prix.”

Outsourcing is always a great idea because if it works you’re a genius for selecting the right team, and if it fails you have someone to blame the entire disaster on. In corporate America that’s what’s called a win-win. For the official word from the Sacramento Kings (absurd, right?) follow the jump. [click to continue…]

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