by The Editors on November 12, 2008
Tony Hawk has endorsed a lot of things: roller coasters, BMX bikes, and video cameras. Now we can add chewable vitamins to the list with the release of Tony Hawk HuckJam Gummies the “multi-vitamin for teens.”
These chewy “gummy” vitamins, shaped like miniature skateboard decks, skateboard wheels and Tony’s signature hawk skull, provide a good source of 11 vitamins and minerals, including Vitamin C, which bolsters the immune system*, and Vitamin B-12, a major factor in energy metabolism*.
Remember to take a couple of these after eating at McDonalds. You’ll need them.
[Link: PR Web]
by The Editors on November 11, 2008
When the board of Orange 21, the publicly traded company that is Spy Optic, denied a request by No Fear Retail to merge businesses we thought this would be over.
Now No Fear Retail has sent another letter outlining why it thinks the board is doing Orange 21 shareholders a disservice by not considering the deal. Here’s a piece of it:
Frankly, we have been surprised by the manner in which the process has been handled to date, given the Board’s fiduciary responsibilities to act in the best interests of Orange 21’s stockholders. No rationale was provided in the Company’s November 4th 8-K filing for the Board’s decision to not pursue negotiations nor was any rationale communicated directly to No Fear Retail. This lack of communication is especially disappointing given the fact that No Fear Retail is one of Orange 21’s largest customers. We hope the Board will reconsider our proposal and enter into meaningful negotiations regarding a merger of the two entities for the benefit of Orange 21’s stockholders. Time is critical in the current climate and, given our understanding and historical involvement in the business, we stand ready to move quickly to negotiate and close a transaction.”
[Link: Market Watch]
by The Editors on November 10, 2008
The New York Times Dealbook blog made mention of Quiksilver today with the following:
One small deal that may be in the works would be the sale of Quiksilver, a maker of surfer-style clothing, to Nike or another strategic acquirer. Quicksilver [sic] has retained Morgan Stanley to advise on its strategic alternatives.
And seeing as Quik’s stock closed well below the $2 mark again today it could be a good deal, as long as Nike doesn’t mind buying over a billion in debt.
[Link: Deal Book]
by The Editors on November 10, 2008
For more than a year there has been talk about Spy Optic’s co-founder Mark Simo’s plan (and then denied plan) to merge his privately held No Fear retail business with Orange 21, the publicly traded company that owns Spy Optics. All along we thought it seemed like an odd strategy.
Now, in Jeff Harbaugh’s latest Market Watch column on TransWorld Business he looks into the details of the this situation and comes away with a similar, though much more informed, analysis.
This request to negotiate a deal, which didn’t have a clearly identified strategic rationale and requires financing that apparently isn’t in place had potential to be very distracting at a time when Orange 21 is busy just running its business in a difficult economy. Making the letter public didn’t help, and you have to wonder what Spy Optics’ customers think about it.
Exactly.
[Link: Transworld Business]
by The Editors on November 7, 2008
Say what you will about Adrenalina CEO Jeffrey Geller, but by blending bi-lingual marketing, in-store FlowRiders, and sideshow carnival showmanship Geller is creating the Cabela’s of boardsports stores.
The new 12,000 square foot store, which is having its grand opening tomorrow November 8, 2008, is in the International Plaza Mall in Tampa, Florida and features both the FlowRider and a juice bar.
As we continue with our retail expansion strategy, we are thrilled to bring the Adrenalina experience to the Tampa area,” commented President and COO Jeffrey Geller. “In addition to the FlowRider, the larger retail space allows us to add an even greater selection of top brands, such as Billabong, Volcom, Quiksilver, Zoo York, O’Neil, and Ed Hardy, giving the consumer the ultimate extreme sports experience.”
All the PacSun posing aside, something must be working.
[Link: MarketWatch]
by The Editors on November 6, 2008
While PacSun same-store sales were down 11 percent and Zumiez was down 13 percent, Urban Outfitters was reportedly up 17 percent, according to Forbes.
Same-store sales for its Urban Outfitters brand climbed 17 percent, while Anthropologie same-store sales edged up 2 percent and Free People same-store sales increased 4 percent.
Are action brands beginning to slip?
[Link: Forbes]
by The Editors on November 5, 2008
The street is not so happy with Zumiez after the company released a same-store sales drop of 13.1 percent in October. Not that it was surprising. It was just lower than expected.
That compares with a same-store sales gain 5.1 percent for the comparable period last year. . . . Analysts surveyed by Thomson Reuters expected same-store sales to fall 6.5 percent for the four weeks ended Nov. 1.
Net sales were up 1 percent, but with the economy and a “highly promotion retail atmosphere” we really can’t fault them. The stoked closed down 76 cents at $8.59.
[Link: Forbes]
by The Editors on November 4, 2008
Luxottica Group S.p.A., the owner of Oakley, Arnette, Ray-Ban and licensee of many other “premium eyewear brands” plans to open 100 of their Sunglass Hut retail locations in India.
Andrea Guerra, chief executive officer of Luxottica Group, commented: “This is an especially important development for our Group and a turning point for our business in India. On the one hand, it allows us to become from day one a key player in one of the most promising retail markets for premium and luxury brands working side-by-side with the leading real estate developer in the market. At the same time, it is an opportunity to further strengthen the positioning of our key brands, with an expected benefit for our entire business in that market.”
The chain already has 2,000 stores worldwide. Apparently it’s very sunny in India.
[Link: MarketWatch]
by The Editors on November 3, 2008
Plans for a new Chicago Billabong retail store on the city’s State Street have apparently been scrapped according to a story in Chicago Business.
Gourmet grocer Fox & Obel and trendy surf-wear retailer Billabong are dropping plans for stores in the former Carson Pirie Scott & Co. building on State Street, leaving the ambitious project with only one tenant as it approaches an opening next fall amid the bleakest retail climate in decades.
Probably not a bad idea. Are people even shopping any more?
[Link: Chicago Business]
by The Editors on November 3, 2008
And now, from the Australia’s Herald Sun:
Globe International has come under renewed fire from investors, including Solomon Lew, over $57 million in related party transactions. . . . Globe investor and investment banker David Williams — who called for a board spill at the company’s annual meeting last month — has voiced concern about a series of deals involving Globe and companies linked to CEO Matt Hill and his brothers, Peter and Stephen. . . .This raises further speculation about the future of Globe, which has in the past two years sold a number of its brands in a bid to streamline the business.
[Link: Australia Herald Sun]
Tony Hawk has endorsed a lot of things: roller coasters, BMX bikes, and video cameras. Now we can add chewable vitamins to the list with the release of Tony Hawk HuckJam Gummies the “multi-vitamin for teens.”
