by The Editors on February 11, 2010
In a conference call at the ungodly time of 8:30 AM ET today VF Corp announced their Q4 numbers and aside from a “$114.4 million after-tax, noncash charge related to the impairment of goodwill and intangible assets” things were looking up even though total 2009 revenues were down 6 percent.
Fourth quarter revenues in our Outdoor & Action Sports coalition grew 8%, with operating income and margins each reaching record levels for the period. Global revenues of The North Face(R) and Vans(R) brands grew 7% and 14%, respectively. Total coalition revenues in our Americas businesses rose 4%, while international revenues were up 9% in constant dollars, led by exceptionally strong growth in Asia. Total direct-to-consumer revenues for our Outdoor & Action Sports coalition rose 21% in the quarter.
Inexpensive, stylish shoes and high-priced technical outwear seem to be growing in popularity. Follow the jump for the press release or the link for all the numbers.
[Link: VFC]
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by The Editors on February 10, 2010
The Sponsorhouse story is an odd one. They started out trying to get kids to pay them money for the possibility of “getting sponsored”. Then in January of 2008 the company decided to change it’s name to Loop’d saying they were going to be the myspace of action sports. When they did, we made fun of them with a post titled Action Sports Gets Loopy.
Now, only two years later, they have changed their name again. This time to Hookit.com. Apparently, they were forced to change it after they “got caught in a Loop (aka Legal battle).” according to their website.
“We are really excited to finally roll out our new brand name and logo, and want to make sure all of our members and brand partners know that we are still the same company, offering the same products and services,” said Scott Tilton, CEO of Hookit.com. “We’ve had tremendous support during the transition and now we can solely focus on innovating new features for our members and partners again.”
We have to agree. The new name does explain exactly what they’re doing. . . Follow the jump for the complete press release.
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by The Editors on February 9, 2010
Back on October 29, 2009 we mentioned a rumor on All Things D about News Corp. selling off Fuel TV to finance an approximately $800 million purchase of the Travel Channel from Discovery. Now, it appears that it is more than a rumor according to a story on Sports Business Journal.
Fox Cable Networks is in advanced discussions on a deal that would sell its action sports channel Fuel TV to Viacom, according to several sources with direct knowledge of the talks. . . The sale was expected to close late last year, but the parties are still negotiating an agreement. Talks began last year when the companies discussed entering a joint venture around Fuel TV, but subsequent discussions led the parties to negotiations on a complete sale of the channel. Sources say Viacom will pay a sum in the low to mid-nine figures to secure the channel.
Great. If this goes through maybe MTV will finally add Parkour to the Fuel TV mix.
[Link: Sports Business Journal, Business Insider, Hollywood Reporter, Media Wire Daily, Radio Business Report]
by The Editors on February 9, 2010
No shock here, but according to Forbes.com Shaun White is tied with South Korean ice skater Kim Yu-Na as the highest paid Winter Olympians. Forbes says the two made $8 million last year.
Shaun’s money comes from (in no particular order): Burton, Target, Red Bull, Oakley, Ubisoft, and AT&T.
Now that is some serious sign spinning.
[Link: Forbes.com]
by The Editors on February 9, 2010
There’s nothing better than a gushing write-up in the nation’s largest daily newspaper and USA Today writer Bruce Horovitz does it up proper with Jake Burton (not to imply that he doesn’t deserve it). It is rare to see newspaper profiles so filled with love. It’s almost like Horovitz works in Burton PR.
This is Jake Burton’s life — a major cool one. . . As the founder, cultural guru and chief prankster of the world’s largest snowboard company — and the guy who almost single-handedly turned snowboarding into a multibillion-dollar sport — he’s got a lot to do. Like snowboard 100 days a year. And surf for another 50, or so.
We all know the rest of the story story, but for a reminder read it all. It almost sounds too good to be true.
[Link: USA Today]
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
In a conference call at the ungodly time of 8:30 AM ET today VF Corp announced their Q4 numbers and aside from a “$114.4 million after-tax, noncash charge related to the impairment of goodwill and intangible assets” things were looking up even though total 2009 revenues were down 6 percent.
