by The Editors on December 17, 2008
Citigroup analyst Kate McShane sent out a note to investors today in which she outlined some stocks to watch and some to run from. Her favorites:
Those include sports apparel and footwear maker Nike Inc., apparel maker VF Corp., sporting goods retailer Dicks Sporting Goods Inc. and sports apparel and footwear retailer Foot Locker Inc., all of which McShane rates “Buy.”
But she’s not, however, a fan of Zumiez.
Names to avoid include Liz Claiborne Inc. and Zumiez Inc., McShane recommended, due to what she considers “elevated credit risk and uncertainty of business fundamentals.”
We’re not so sure we agree with your police work there, McShane.
[Link: Money.cnn.com]
by The Editors on December 17, 2008
According to reports ASA Entertainment, the action sports event marketing company, has made at least four staff cuts in recent days.
Their director of marketing, senior producer (who produced all of the events and television for the last three years), athlete coordinator and one sales person out of the Indialantic, Florida office were all laid off. As our source says:
It seems the company is changing direction away from competitive events and more into “customized corporate marketing solutions” or as the rest of the industry calls them . . . demos.
And maybe some of that direction change is showing up at BFD.com.
by The Editors on December 17, 2008
We’ll probably hear more about this in the conference call tomorrow, but ASR is reporting that Quiksilver (and all its brands but DC Shoes) will “miss the January event for the first time since ASR was held in Long Beach,” according to a Shop-eat-surf.com.
Today Quiksilver told organizers that the brand will miss the January event for the first time since ASR was held in Long Beach,” the statement said. . . . “ASR continues to look for ways to work with Quiksilver and the industry as a whole through these hard times.”
Anyone want to buy a great surfwear brand?
[Link: Shop-eat-surf]
by The Editors on December 16, 2008
The New York-based private equity firm of Goode Partners LLC has announced that they are taking a minority investment in Rick Alden’s Skullycandy action electronics company.
We are thrilled to be part of the Skullcandy team and growth plan. Rick Alden and Jeremy Andrus have assembled a truly dynamic and knowledgeable team to accelerate the Skullcandy® brand worldwide. They have clearly leveraged their experience and knowledge of the global action sport marketplace to position the Skullcandy and 2XL brands for mainstream success”, said David Oddi, Partner of Goode Partners.
And, not surprisingly, Rick Alden is excited about getting more money. Why wouldn’t he be?
[Link: PEhub.com]
by The Editors on December 16, 2008
This should be entertaining. This Thursday, December 18, 2008 at 1:30 PST Quiksilver will host a “conference call to review its fiscal 2008 fourth quarter and year-end financial results
The broadcast will be hosted at www.quiksilverinc.com and at www.viavid.net. To listen to the broadcast, your computer must have Windows Media Player installed. If you do not have Windows Media Player, go to the latter site prior to the call, where you can download the software for free.
Get your rig ready and listen up.
[Link: Welt.de]
by The Editors on December 15, 2008
City of South Lake Tahoe officials swarmed Marc Frank Montoya’s The Block Hotel last Thursday (December 11, 2008) and shut the place down until the hotel can pay up on more than $100,000 in back taxes it owes the city.
Customers who occupied the hotel (Thursday) were allowed to stay, but the hotels will remain closed until the TOT is paid,” City Attorney Catherine DiCamillo said Friday. . . . The Block failed to pay TOT between January 2007 and January 2008, and owed penalties and interest from September and December 2006, according to the police statement. . . . Managing partner of the hotels — 37-year-old Las Vegas resident Eneliko Smith — appealed Vuletich’s decision to City Manager David Jinkens, who upheld the finance director’s decision on Nov. 21.
Smith said that the back taxes had not been paid because “financial records detailing the unpaid takes were lost.” Nice of the city to close the hotel right before the holidays, but it shouldn’t have been a surprise to Smith as he was arrested in September over the same issue.
The biggest bummer is for all the shreds who invested in this place and trusted Smith to run the business.
[Link: Tahoe Daily Tribune]
by The Editors on December 15, 2008
Unless the action sports magazine category can buck a major media trend, 2009 could be pretty rough. And that comes on the heels of what Media Daily News is calling “the worst year in decades for magazines.”
Through the middle of December, consumer magazines are down 9.4% from last year, according to MIN Online; this compares with a 7.8% drop in 2001. Worse, magazines do not appear to be headed for a quick rebound like the last recession. . . . At this rate, 2008’s losses will almost certainly be compounded in 2009–bringing two straight years of declines, which will result in more magazine closures and layoffs.
We’ll keep you posted.
[Link: Media Daily News via I Want Media]
by The Editors on December 15, 2008
Looking for a last minute gift item for the snowboarder in your life? Sam’s Club has a great selection of Burton Snowboards. The prices aren’t that great but they’ll ship them right to you and they are covered by Sam’s Club Member Satisfaction Guarantee. How rad is that?
[Link: Sam’s Club via Tackled-Box]
by The Editors on December 14, 2008
James Strong, 64, the chariman of the board at Rip Curl resigned from the board on November 20, 2008 but the company only just told the Australian Securities and Investments Commission on Friday, according to a story in the Sydney Morning Herald.
He will remain on the boards of Woolworths and Insurance Australia Group – he is chairman of both – and Qantas. He also plans to keep his small stake in Rip Curl. . . .His decision to step down from the Victorian company comes amid turbulent times for surfwear retailers. Billabong is suffering from a slowdown in global sales, and some US analysts say Quiksilver may have to put itself up for sale because of its hefty debt load.
[Link: Sydney Morning Herald]
by The Editors on December 11, 2008
For old shreds who used to go through 15 rolls of duct tape a season trying to get a little heel hold in their old Sorel Caribous this news will bring a chuckle. Sorel, a brand now owned by the giant Columbia Sportswear Company has just signed a sponsorship deal to be the “official boot sponsor” of the U.S. Snowboarding team.
Sorel will outfit athletes, event staff, volunteers, on-air talent and VIPs with Sorel footwear, including the original Caribou boot, which was introduced in 1972 and has become one of the leading winter boots of alltime. . . . “USSA is excited to be partnering with Sorel around U.S. Snowboarding and several of our competitions,” said Ted Morris, U.S. Ski and Snowboard Association vice president, sales and marketing. “Our athletes, staff andspecial guests will have warm, dry feet no matter what the weather is like at our events in the mountains where winter can bring varying elements. It’s a privilege to be working with a brand like Sorel.”
The company’s failure to capitalize on snowboarding in the late 80s is still one of the greatest marketing fumbles in action sports’ history. Welcome back, Sorel.
[Link: International Business Times]
