According to Shop-Eat-Surf.com‘s coverage of analyst Mitch Kummetz’ survey of board sport retailers (how’s that for third hand information) Volcom is the “hottest men’s and women’s brand.”
Hottest men’s brands
1. Volcom
2. Billabong
3. Quiksilver
4. Matix
5. KR3WHottest women’s brands
1. Volcom
2. Roxy
3. Billabong
4. Matix
5. O’Neill
[Link: Shop-Eat-Surf.com]
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According to the San Diego Daily Transcript Nixon co-founder Andy Laats is sharing his business stoke with students at California State University at San Marcos.
The growth is what I still get stoked on,” Laats said of Nixon Inc. during the “In the Executive’s Chair” course at California State University, San Marcos Wednesday.
The Nixon co-founder and president told about 83 students the progress he alludes to is “not in terms of the product, but in terms of the amount of ideas and the amount of energy we have.“
Click here to watch the video or here for the video interview.
[Link: San Diego Daily Transcript]
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According to Boardsport Source:
Quiksilver, Inc. reported that Robert McKnight has resumed his role as president of Quiksilver, Inc. and remains both chairman of the board and CEO. Mr. McKnight will again direct the company’s strategic and operational initiatives as it focuses on its Quiksilver, Roxy and DC core apparel and footwear brands, seeks to improve its operating results and implements strategic initiatives for the Rossignol group.
The company also announced that Bernard Mariette has resigned from his position as president and as a director of the company in order to pursue other interests, which may include attempting to acquire the Rossignol group. As previously announced, J.P. Morgan is conducting a process on behalf of the company to reduce its exposure to the winter sports equipment business, including a possible sale.
Avoir, Bernard. Hope you have better luck buying Rossignol the second time around. Quik was up 53 cents on the news.
[Link: Boardsport Source and LA Times]
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From BusinessWire:
Zumiez Inc. (NASDAQ: ZUMZ) a leading specialty retailer of action sports related apparel, footwear, equipment and accessories, today announced the company’s comparable store sales increased 1.7% for the four-week period ended February 2, 2008, versus a comparable store sales increase of 12.4% for the four-week period ended February 3, 2007. Total net sales for the four-week period ended February 2, 2008 increased 16.3% to $20.7 million, compared to $17.8 million for the four-week period ended February 3, 2007. Due to the addition of the 53rd week in fiscal 2006, January 2007 had five weeks of sales versus January 2008 which had four weeks of sales. Total net sales for the four-week period ended February 2, 2008 decreased 11.7% to $20.7 million, compared to $23.4 million for the five-week period ended February 3, 2007 due to the loss of one week of sales in fiscal January 2008.
To hear the Zumiez prerecorded January sales message, please dial (888) 317-6095 (no passcode is required).
We’re going to dial it up right now just for kicks.
[Link: BusinessWire]
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As seen on Boardsport Source:
Quiksilver, has appointed investment bank, JPMorgan, to initiate a sale process for its ski and snowboard brand, Rossignol. Quiksilver acquired Rossignol, in 2005, but the business has consistently underperformed ever since. The company wrote down the carrying value of Rossignol by US$166 million ($192 million) in the financial year ended October 31, 2007. Rossignol, along with Quiksilver’s three other winter sports brands, represents 16 percent of its total revenue.
[Link: Boardsport Source]
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In the world of action sports Bnqt.com has been a bit of an outsider. Founded by a former AOL Sports-man, the site featured viral video of action sports along with a user-generated content community. Though the site never gained any traction, recognition, or significant traffic, it was still acquired by USA Today for an undisclosed amount of money.
“USA TODAY’s acquisition of Banquet is another example of the innovative ways we are trying to diversify our audience,” said Craig Moon, president and publisher of USA TODAY. “We believe that action sports are a dynamic and exciting category and that we have found an excellent stand alone brand which truly resonates with the youth audience.”
This purchase shows how desperate old media is to get involved with “the kids.” And to think, Time Warner sold their “action sports” sites a little less than a year ago. Then again, this certainly gives us hope. . .
[Link: CNNMoney.com]
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Surfermagazine.com editor Zach Weisberg gets the chance to interview Richard Woolcott about Volcom’s recent purchase of Electric Visual and he only asks three questions. . . really Zach? And you’re calling that an exclusive? Here’s the answer to the first question:
Electric is a company that we have always felt would be a good fit for Volcom when the time was right. When Electric approached us that they were interested in looking for a strategic partner, we rolled up our sleeves and went to work. We believed we were the right company for them and fortunately everything worked out for both of us.
Click the link for the other two insightful, probing questions.
[Link: Surfermagazine.com]
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Volcom is blaming a “weak retail environment” for causing it to lower it’s 2008 financial outlook.
The apparel company now says 10 percent earnings growth and 18 percent revenue growth “are achievable” in 2008. It previously forecast 20 percent growth for profit and sales. . . . Volcom now expects to report fourth-quarter earnings of 29 cents or 30 cents per-share on revenue of $67 million to $68 million. Volcom earlier estimated profit of 30 cents to 32 cents per share and sales of $70 million to $73 million.
[Link: CNNMoney.com]
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It’s been rumored forever and denied forever, yet strangely today it was officially announced that Volcom, the big, powerful, publicly traded company has purchased tiny, core, eyewear company Electric Visual for $25.5 million in cash. Wooly is happy about it.
Culturally, Electric is a perfect fit for our company,” Woolcott continued. “We’ve known the Electric team for a long time, and we recognize they share the same passion and love for action sports as we do here at Volcom. Our companies are very much on the same wavelength, sharing similarities in product distribution, marketing efforts and a strong commitment to quality and innovation. Everyone here is stoked to welcome Electric into the Volcom family.”
Bruce Beach, who continually denied any such thing likes the idea as well (not surprisingly).
We believe this partnership will enable us to take the Electric brand to the next level,” said Bruce Beach, co-president and chief executive officer of Electric. “We are very excited about working closely with the Volcom team to grow our existing eyewear business and further expand into new product categories. Additionally, this partnership will enable us to grow our retail relationships and to continue to strengthen our operational capabilities.”
And we’re happy because it means we know at least four more millionaires. . . and they’re good people to know.
[Link: BusinessWire]
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Rossignol, in one of the most insanely misdirected marketing ploys ever, has hired skater/artist Steve Caballero to design the graphics for a pair of their new S7 twin-tip powder skis. How’s that for a collab? Talk about trying to suck some life out of skateboarding. They’ve also enlisted Andy Howell to wave his magic skateboarding art wand over another pair of skis. Is this for real? No wonder Bob McKnight is “anticipating continued weakness.”
[Link: Seven Artistic Sins via Source]
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