by The Editors on March 5, 2010
Today Element’s Johnny Schillereff announced that Billabong has reeled Plan B Skateboards into an “exclusive 10-year agreement” and that Plan B will be operating out of the Element headquarters in Irvine, California.
“The Billabong group’s unwavering support has helped Element blaze the trails we’ve always dreamed of,” Schillereff said. “Plan B is iconic and deep within the fabric of skateboarding and we couldn’t be happier to unite with them.”
Colin McKay agrees.
“Billabong and Element clearly understand brand building,” he said. “Danny, the team and I couldn’t be happier with the opportunity to leverage their strengths and help Plan B reach its full potential.”
Billabong knows better than most that skateboard hardgoods are a great loss leader for selling logo T’s, denim, and even shoes. Plus, we’re sure it’s going to help add a little more diversity to the Billabong mall stores that have been popping up here and there lately. Chalk up another win for Paul Naude.
[Link: Branch Distribution]
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by The Editors on March 4, 2010
The United States Snowboard Association has filed suit against Go211.com owner Action Sports, Inc. after they say the company failed to pay the USSA a “$175,000 sponsorship fee, plus a 30 percent share of the defendant’s advertising rev according to a story in the Salt Lake City Tribune.
Alleging breach of contract, unjust enrichment and trademark infringement, the USSA is asking a U.S. District Court for Utah judge to award the organization monetary damages and to stop Boston-based Action Sports from displaying USSA-affiliated materials. . . . Action Sports President Sean Aruda declined to discuss details of the case, but said, “we obviously have a much different view of the facts … This is just a business disagreement they chose to escalate. . . “We’re disappointed their attorneys took this action, and we’re confident it will be settled amicably,” he added. “We would love to continue doing business with them.”
Chances of that seems kind of slim at this point.
[Link: Salt Lake City Tribune]
by The Editors on March 4, 2010
February wasn’t so bleak for core mall retailer Zumiez according to same store sales numbers released yesterday March 3, 2010.
February sales at stores open at least one year rose 11.2%. Analysts, on average, had expected same-store sales to rise 1.2%, according to Thomson Reuters. Total net sales for the four weeks ended Feb. 27 increased 19.6% to $27.6 million, said the specialty apparel retailer.
Shares were up nearly 20% this morning to over $20: a two-year high for the company due in part to a Piper Jaffray upgrade of the stock.
[Link: Market Watch]
by The Editors on March 2, 2010
The website Alister & Paine bills itself as “the digital magazine for 21st century executives” and seeing how they knew enought to interview Sanuk’s Jeff Kelly we’d have to agree. So how does Sanuk stay relevant?
By constantly doing what Nike and Sketcher and Crocs and those guys can’t do. We’re completely random. It separates us and it still gives us that feeling that we’re a brand that works out of a garage. . . We’ve had guys like Brad Pitt and Matthew McConaughey embrace the product and wear it religiously. Vanity Fair asked Brad Pitt what his favorite shoes were and he said ‘Sanuk Sidewalk Surfers’. You can’t ask for a better endorsement than that.
[Link: Alister & Paine]
by The Editors on March 1, 2010
According to a story in the Wall Street Journal Intrawest owner Fortress Investments LLC has reached an agreement with creditors to restructure its $1.4 billion debt and will not be auctioning off equity today.
The Wall Street Journal reports that the new deal will allow Intrawest owner Fortress to inject an additional $150 million of equity into the business to pay down debt and retain control of the resort company. . . The report also indicates a new $1.2-billion loan package will extend debt maturities by as long as four years and will charge a higher rate of interest than existing debt.
If you subscribe to the WSJ you can read all the details.
[Link: Wall Street Journal and Canadian Business]
by The Editors on February 26, 2010
Globe International Limited CEO Matt Hill today announced that the company is reporting a net profit of AUS$800,000 for the half year ended December 31, 2009 even though total revenues were down $13 million or about 22 percent.
This comes as good news for those who remember that last year at this time the company was reporting losses of AUS$9.3 million dollars for the same period.
“The Group’s main goal for this financial year was to achieve a significant turn-around in profitability so it is pleasing that the first half financial result is in line with this goal. However, trading conditions continue to be difficult and, while not unexpected, it is disappointing that revenues declined for the half. Conditions remain hard to predict and while there are some signs of recovery in the Group’s account base we will continue to approach the next six to twelve months with caution.
Caution is not a bad idea this season.
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by The Editors on February 26, 2010
Not exactly sure what kind of direct connection there is between skateboarding, surfing and coffee, but that hasn’t stopped The Skateboarder’s Journal’s Jack Smith and his friend Adrian Pina from rolling out a new coffee company called Cuppastoke.com. Smith describes it as:
A coffee company for skateboarders, surfers, snowboarders and anyone else who shares the almost indescribable feeling of “STOKE”. . . Skater Joe Dark Roast, Our signature blend. Complex, bright, bold, and rich, this coffee shines through milk in espresso drinks, and tastes amazing in drip or press. An all around winner.
We personally don’t have a problem with the local brew, but for those who want a cup of stoke every morning, then Skater Joe Dark Roast might be just for you. $11.95 will get you 12 ounces. Enter special code “boardistan” and Jack will give you 15% off your order. How cool is that?
[Link: Cuppastoke]
by The Editors on February 25, 2010
Volcom announced today that their fourth quarter consolidated revenues were $64.2 Million; net income was $3.4 Million and they’re pretty happy about it.
“I am very proud of the entire Volcom team’s focus, dedication and strategic agility this past year as we navigated through one of the most challenging economic periods in history,” said Richard Woolcott, Volcom’s chairman and chief executive officer. “We rose to the challenge, remained healthy and profitable and planted the seeds that I believe will position the company for growth and success in the years to come.”
Follow the jump for the rest of the details or click here for the entire release. [click to continue…]
by The Editors on February 25, 2010
Spy Optic‘s parent company Orange 21 has announced a partnership with singer, songwriter, author and pilot Jimmy Buffett in which the company will create a line of sunglasses for Buffet’s Margaritaville “lifestyle” brand.
Orange21 is honored to be producing this line of eyewear for Jimmy and for Margaritaville. Jimmy’s life work continues to touch so many people and has basically defined the notion of FUN for all the right reasons. That’s the kind of friends we like to hang with!” says Stone Douglass, CEO of Orange21. “Adding Margaritaville Eyewear to our lineup is a continuation of our multi-branded strategy at Orange21 and we look forward to continued success as an expanding and authentic leader in the lifestyle eyewear market.”
A good pair of shades are important after an all-night tequila bender and no one knows that better than the parrothead army. Plus, middle-aged Orange County swingers probably need an eyewear brand they can identify with.
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by The Editors on February 23, 2010
Iconix Brand Group, Inc., the parent company of Op, Zoo York, and Ed Hardy among others, has announced that revenue rose 21 percent to $65.8 million in Q4, thanks to a “rise in licensing revenue and the success of its direct to retail channels” according to a story on Reuters.
“We have strengthened our balance sheet and today have approximately $230 million of cash available to be opportunistic in the pursuit of acquisitions,” Chief Executive Neil Cole said in a statement. . . During the quarter, the company earned $19.7 million, or 27 cents a share, compared with $15.3 million, or 25 cents a share a year ago.
Looks like big box just keeps on working. . .
[Link: Reuters]
Today Element’s Johnny Schillereff announced that Billabong has reeled Plan B Skateboards into an “exclusive 10-year agreement” and that Plan B will be operating out of the Element headquarters in Irvine, California.
