by The Editors on February 8, 2010
Zumiez had a great January according to a new release issued last week. Store comps were up 1.8 percent and total sales came in at $22.1 million for the month, up 9.2 percent over last year.
In other news, Tom Campion and Richard Brooks reminded everyone how many shares of the company they own in Schedule 13g filings. Campion owns 5.6 million shares or 18.6 percent and Brooks owns 3.7 million shares or 12.3 percent of the company.
Zumiez stock was trading up 9 cents at $13.21 in morning trading.
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by The Editors on February 8, 2010
In the middle of 2009 the Volcom Compensation Committee decided that because of the economic climate they were making some adjustments to the salaries of their executive officers.
Now, according to documents filed with the SEC, they have decided to ratchet those salaries back up to the amounts they originally approved before the cutbacks.
Here’s what everyone is making now (before bonuses).
Richard Woolcott, Chairman and CEO $447,017
Jason Steris, President and COO $353,420
Douglas Collier, Executive Vice President, CFO, Secretary and Treasurer $336,000
Tom Ruiz, Executive Vice President of Sales $ 336,000
Troy Eckert, Executive Vice President of Marketing $336,000
Glad they got all that straightened out. These guys work hard and they have to deal with their salaries being public record.
[Link: SEC]
by The Editors on February 8, 2010
As of January 31, 2010 Sally Frame Kasaks, the former CEO of Pacific Sunwear is no longer on the board according to a Form 8-K filed with the SEC.
On January 28, 2010, Sally Frame Kasaks resigned as a director of Pacific Sunwear of California, Inc. (the “Company”), effective as of January 31, 2010. Ms. Kasaks’ resignation from the Board was in conjunction with her retirement from the Company, the date of which was previously disclosed in the Company’s Form 8-K dated June 17, 2009 (the “June 8-K”).
Gary H. Schoenfeld has filled “the vacancy created by Ms. Kasaks’ resignation.” No surprise, just interesting to see the official paperwork.
[Link: SEC]
by The Editors on February 3, 2010
[Editors’ Note: ASR Photo Gallery Now Up. To jump straight to a section click the links: Access : Class : Products : Crossroads : SPoT Am Awards]
ASR’s fractionalized trade show (February 3-4, 2010) had it all broken down into three zones: cool fashionista upstairs in Class (above), surf dogs and street fighters down the escalator in Access (below) and all the skateboarders in the PetCo Parking lot (way below).
The main isle of the ASR Access Show. See that’s stripped wall? That’s the end.
You don’t realize how much energy all the skate companies bring to ASR Show until they’re at their own venue across the street. We’ve never done so much walking just to see all our people. Not that we mind. We’re just saying.
More photos and commentary will be posted later. Right now, it’s time for the Grant Brittain signing in room 25B upstairs and the over to Tum Yeto HQ for the Skate Park of Tampa x The Skateboard Mag Amatuer Awards.
by The Editors on February 3, 2010
by The Editors on February 2, 2010
When the Snow Industries of America announced it was moving the SIA Trade Show to Denver after a few decades in Las Vegas we were not happy about it. In fact, every time we thought about making travel plans for SIA 2010 we remembered where it was being held and put it off to another day.
Having spent part of a late January in Denver in the past, complete with 30 below zero temps and 50 mph winds nearly blowing us off the highway, we weren’t looking forward to making the trek. No matter how many times C3 Worldwide president and SIA Board Secretary Bob Gundrum listed the reasons why the show would be better without the all-night partying and drinking that Vegas delivers, all we could think about was those $49 flights, $35 hotel rooms and nights at the Hard Rock’s Center Bar. After 20 years in Las Vegas we had it down and weren’t into everything changing.
But that was before the show. Now, at the other end of four days with friends in one of the nicest, cleanest, convention centers in the world, we’ve mostly forgotten about the rest. And there was a lot to forget. Police storming our hotel the night before we arrived, the drug dealers who said “Hey,” as we walked down the street, the pimp having words with two of his employees in the lobby of our hotel, bums fighting in McDonald’s at 8 in the morning, and Denver’s general urban-blighted-ghetto feel faded into the background. We left town with a much more positive view of the SIA venue change and it seems we’re not alone.
Follow the jump for the rest of the story or click the links for photos: People : Booths : Product : Parties
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by The Editors on February 2, 2010
According to ActionWatch December 2009 comps in core shops were up over October and November, but closed out the quarter 13 percent down, according to a post on Transworld Business.
This number gives the fourth quarter first prize in lowest sales declines of the year for the shops on the panel, but by a very small margin,” said Cary Allington. “Also, Q4 2009 had the “easiest” comparison of the year since that quarter was so bad in 2008, so we were actually expecting (or at least hoping) for an even smaller comparative sales decline.”
So that means it’s not getting worse, worse. It’s getting better worse. And that’s good.
[Link: ActionWatch via TransWorld Business]
by The Editors on February 2, 2010
In a handful of Schedule 13gs filed with the U.S. Securities and Exchange Commission on Friday (January 31, 2009) investment firm BlackRock Inc. reminded us all that they own action fashion. After they purchased Barclays Global Investors from Barclays Bank PLC on December 1, 2010 they own just over five percent of the shares of Volcom, Quiksilver, VF Corp, and Pac Sun.
In fact, with 1.5 million shares of Volcom, 9.6 million shares of Quk, 6.4 million shares of VF Corp and 3.4 million in Pac Sun they’re in to action fashion for over half a billion dollars. . . that’s swinging some pretty large . . . shares.
[Link: SEC]
by The Editors on February 2, 2010
Chris Nieratko, shop owner, writer, porn reviewer has a solid little round-up of the skateboard economy in his latest column for ESPN/Action titled Skate of the Union.
I, for one, am glad to say goodbye to 2009 and pray 2010 is a better year for skateboarding. Like most every facet of our nation’s economy, skateboarding took a big hit in in the past year. It may not appear that way from the outside, what with the biggest contest purses in history and big budget Nike commercials on television featuring Paul Rodriguez and Ice Cube, but trust me, things ain’t pretty in Skateville.
Follow the jump for comments from Jamie Thomas, SPoT’s Barak Wiser, Nocturnal’s Mark Brandstetter, Deluxe’s Jim Thiebaud and others.
[Link: ESPN/Action via Skate & Annoy]
by The Editors on February 1, 2010
Fortress Investment Group, the parent company of Whistler-Blackcomb owner Intrawest, is reportedly trying to fight off foreclosure by offering cash to lenders, according to sources quoted in the New York Post. On top of that, they’re trying to get $90 million which they say the Canadian government owes them.
Fortress says it is negotiating with the Canadian government, which it says promised to make it whole for the time Whistler/Blackcomb mountain is used for the Olympics. Intrawest is trying to get roughly $90 million, and wants to be paid before the Games start on Feb. 12, a source said. . . If it does not get paid, Fortress plans to start legal proceedings, the source added. It is unclear if that could disrupt the Winter Olympics.
It appears that even the Winter Olympics have some high hurdle events.
[Link: New York Post]
Zumiez had a great January according to a new release issued last week. Store comps were up 1.8 percent and total sales came in at $22.1 million for the month, up 9.2 percent over last year.
