by The Editors on November 29, 2010
Quiksilver hasn’t wrapped up their final 2010 numbers, but wanted to let everyone know that things aren’t as bad as they thought they were going to be back in September 2010, according to documents filed today with the SEC.
Based on preliminary data, the company estimates that fourth quarter fiscal 2010 net revenues were between $492 million and $497 million, compared to net revenues of $538.7 million for the fourth quarter ended October 31, 2009, and that fourth quarter fiscal 2010 pro-forma Adjusted EBITDA was between 10% and 20% higher than pro-forma Adjusted EBITDA of $49.9 million for the fourth quarter ended October 31, 2009. . . These preliminary estimated results are higher than the most recent outlook provided in September, at which time the company had expected fourth quarter revenues to be down in the mid-teens on a percentage basis compared to the same quarter a year ago and anticipated that full-year fiscal 2010 pro-forma Adjusted EBITDA would be up approximately 25% when compared to fiscal 2009.
And that’s good considering that 2009’s loss from continuing ops was about $73 million. In other news, Quik is rounding up another €200 million in a private offering in Europe.
Follow the jump for all the details.
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by The Editors on November 28, 2010
Stereo’s Jason Lee has apparently sold his Los Feliz LA home at a loss of $300,000, according to a story in the Wall Street Journal.
Located in the Los Feliz neighborhood, the 2,200-square-foot home has three bedrooms and three baths. Situated on a 1½ acre lot with city views, the home, which was built in 1948, has a separate guest house, gardens and a private office. There’s a hot tub located off the master suite.
Lee reportedly bought the home in 2007 from bluesman Robert Cray for $3.4 million and has just sold it for $3.1. In “these economic times” it could have been much worse.
[Link: Wall Street Journal]
by The Editors on November 28, 2010
An employee of a Carlsbad, California Zumiez action mall store was robbed at gun point on Friday evening in the parking lot of the Westfield Plaza Camino Real, according to a story in the San Diego Union-Tribune.
The employee told authorities that the suspects were wearing “wrestling-type” masks over their faces and were carrying large semi-automatic handguns. They ran northbound through the parking lot of the shopping center, located at 2525 El Camino Real.
The robbers got away with the employee’s personal property and a Zumiez bank deposit. This is probably one of the reason’s locals call it “The Ghetto Mall.”
[Link: San Diego Union-Tribune]
by The Editors on November 24, 2010
Tahoe’s Sugar Bowl Ski Resort is opening today (or so we’ve heard) with what is likely the best opening day snow they’ve had in years.
With 101 inches of new snow in the last seven days it would seem like they’d have all kinds of great things to Tweet about. Right?
So what was their last tweet? It was on November 9, 2010 letting all their followers know that they had “fired up the snow-making guns.” Since then, not a peep.
Social media really shouldn’t be this difficult, seriously. Then again, maybe they’ve ditched Twitter for facebook (which seems to be where all their latest info ends up).
by The Editors on November 24, 2010
Denver, Colorado based private equity fund KSL Capital Partners announced yesterday that they had acquired virtually all the assets of the Squaw Valley Development Company from the Cushing family for a undisclosed amount. The Cushing’s have run Squaw Valley since founder Alex Cushing opened the resort in 1949.
“It’s with a respectful eye for the past that I say this news is part of a new era in Squaw Valley’s incredible history,” said Andy Wirth, Squaw’s new President and CEO. “KSL is dedicated to further enhancing the resort and the guest experience by committing over $50 million in additional capital improvements over the next 3-5 years. The KSL team, all of whom are skiers and riders, are thrilled to be the new owners of Squaw Valley and are excited about the resort’s future.”
KSL currently owns several warmer climate resorts like La Costa Resort & Spa in Carlsbad, California, Rancho Las Palmas Resort & Spa in Rancho Mirage, California or Barton Creek Resort & Spa in Austin, Texas, but the Squaw Valley purchase marks their first expedition into the winter resort business. This is not to say they have no experience. After years at Vail Associates, KSL’s Managing Directors Mike Shannon and Eric Resnick certainly know the ski business.
This purchase, along with Vail Resort’s recent operations deal at Northstar-At-Tahoe is kicking the entire Tahoe resort game up a notch. Industry insiders are saying that this is exactly what Squaw needed. “This is going to be a game-changer for sure,” said one resort executive.
We’ve never really liked riding Squaw. Maybe the changes KSL brings will give us a reason try it out again. For a complete list of resort upgrades follow the jump for a “personal letter” from Andy.
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by The Editors on November 22, 2010
Source Interlink announced today that they have moved four of their off-road motorcycle properties (Dirt Rider, ATV Rider, MiniMoto and EnduroCross) into the loving arms of Action Sports Group’s Publisher Norb Garrett. He seems happy about it.
“Bringing these dynamic titles and events into the ASG/Grind Networks group is another key step in our strategic plan to create the world’s largest action/adventure sports media company,” said ASG/Grind Networks SVP Group Publisher Norb Garrett. “By adding the largest off-road motorcycle title Dirt Rider, ATV Rider, a fast-growing arena motorcycle series such as EnduroCross, and the MiniMoto event, we have added an important piece of our overall content strategy for the Web and TV through both our vertical and horizontal efforts with our action sports portal GrindTV.com and Yahoo! Sports content partnership. Additionally, the brands create exciting new cross-marketing opportunities for our advertisers and marketing partners.”
If anyone can save these properties, it’s Norb. Follow the jump for the rest of the official release.
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by The Editors on November 21, 2010
Writer, adventurer, director Charlie Smith and Super Action Agent Circe Wallace were married this weekend (Saturday, November 20, 2010) in Las Vegas in front of family, friends, and business associates. Smith dropped his writerly veneer and went straight for the heart with his last tweet on Friday:
Life. Is. Perfect. . . Or saturday night it will be.
Circe followed that up on Sunday evening with the following:
The first day of the rest of my life was beyond perfect. So much love and the most beautiful friends and family..thank you @chasdoesntsurf!. . . Everyone who attended thank you for making the room glow with Love. Here’s to doing next level shit.
We’re still wondering who is going to be on the top end of Circe’s usual 15/85 percent split, while at the same time figuring they’re both giving 100 percent. Congrats. . .
by The Editors on November 19, 2010
Artist Drew Brophy has been paint-penning up surfboards for over 20 years and lately we’ve been seeing his work showing up everywhere. His latest design is for the January Surf Expo Show. Here’s what they had to say about him:
A show T-shirt has been part of the Surf Expo experience for years, and many of our longtime retailers proudly show off some pretty ancient specimens. That’s cool. This year we tapped artist Drew Brophy. Seemed like the perfect fit. Drew does a ton of work for a variety of exhibitors at Surf Expo — both in the surf section and also in our resort and souvenir areas. Plus, hailing from Myrtle Beach, South Carolina, Drew has been a longtime attendee and vocal fan of Surf Expo.
The Drew Brophy designed shirt (which has not been finalized yet) will be on sale at the info booth on the floor of the show January 6-8. 2010.
by The Editors on November 17, 2010
A recently released report by the US Forest Service titled The Effects of Climate Change on Lake Tahoe in the 21st Century: Meteorology, Hydrology, Loading and Lake Response suggests that the shred industry in the Lake Tahoe area could be up for extremely hard times in the future, according to a story in the New York Times.
Iconic Lake Tahoe could see its regional snowpack decline by as much as 60 percent over the next century, with increased floods more likely around 2050 and prolonged droughts closer to 2100, according to a new report from scientists who have studied the lake for decades. . . Such predictions could mean bankruptcy for ski destinations that surround the lake, including the home of the 1960 Winter Olympics, Squaw Valley USA. Squaw Valley and other resorts are an accessible stop for skiers throughout the West and the heavily populated California coast.
Guess that means we all better hit up Tahoe a little more this season.
[Link: New York Times]
by The Editors on November 17, 2010
Consolidated Skateboard’s Steve “Birdo” Guisinger (pictured right with Leticia Ruano) gets the local hero profile treatment on Santacruz.com and uses it to kick off their Don’t Do It Foundation. The non-profit organization is dedicated to supporting local core shops.
“It’s message,” Guisinger says. “’Keep the surf skate and snowboard industry in the hands of those that are passionate about it.’” . . . “If all you have is a mall or sporting goods chain in your town, we ask that you don’t support them, and instead order from a skater owned, online store,” it says. . . Guisinger sees it as a simple choice. “The only way for local stores to survive is to drive mall chains out of business,” he explains. “So we want people at whatever cost to not support the mall chain. You vote with your money. If you go to the mall chains, you’re only empowering them. Go to your local skate shop. If you don’t have a local skate shop, buy online from a local company.”
It appears a lot can be done by not doing something.
[Link: Santacruz.com]
Quiksilver hasn’t wrapped up their final 2010 numbers, but wanted to let everyone know that things aren’t as bad as they thought they were going to be back in September 2010, according to documents filed today with the SEC. 
