Economic correspondent Paul Solman reports on an American-born product hit hard by globalization: the surfboard. In Southern California, U.S.-based manufacturers fear they will soon be wiped out by competing, foreign companies due to discrepancies in labor costs and duty taxes.
Probably one of the best bits we’ve seen on explaining the ins and outs of free trade. For even more on the story including why it might be a bad idea to fight back, click here.
Bear Mountain, Neff, and Malakye are hooking up the entire shred industry with a free day of riding at Bear tomorrow (Friday, March 29, 2013) for Office Booyz Snow Industry Day. If you work for a snow industry company just bring your most recent pay stub and a valid ID and you can ride all day. There’s no pre-registration. Just show up and ride. Springbreak! Springbreak! Follow the jump for all the details. [click to continue…]
Kering (formerly known as PPR pending approval), the parent company of Volcom, Gucci, and Puma has announced that they’ve just purchased France Croco “one of the leading independent tanneries. . . specializing in the sourcing, tanning and processing of crocodilian skins.”
Owned, developed and headed by the founder’s son Dan Lewkowicz, France Croco supplies high quality crocodilian skins for watchstraps, leather goods, ready-to-wear and shoes to most of the world’s best known Italian and French fashion and accessories houses, including houses belonging to Kering. France Croco’s sourcing activities also set high standards for sustainability and conservation of wildlife species.
We’re looking forward to some France Croco + VeeCo collar trunks with crocodile pockets, or even better yet, some crocodile Volcom boots, maybe? Follow the jump for the official word. [click to continue…]
Former Billabong CEO Matthew Perrin, 40, is back in court after pleading not guilty to defrauding the Commonwealth Bank of AUS$13.5 million, according to a story in The Australian.
It’s alleged Perrin forged his former wife Nicole Bricknell’s signature on documents, enabling him to use the value of a jointly-owned house on the Gold Coast to obtain a loan of $13.5 million from the bank in 2008.
Anyone who has ever watched the now classic episodes of Surfer Magazine TV (with host Sonny Miller) will remember the Opper Sports Productions name. Over the years founder Ira Opper (pictured right with Wingnut and a cameraman) has created loads and loads of action sports television programming. And now, the Del Mar Times has profiled Opper.
He was an early pioneer bringing beach volleyball and the concept of action sports to ESPN. He was one of the producers behind the first regional sports cable network that eventually became Fox Sports Prime Ticket. He has the largest surf film archive in the world — and he’s lived in Solana Beach for more than 30 years.
Mophie Outride cameras will be getting a work out at Bells Beach as the 2013 Rip Curl Pro kicks off on March 27, 2013. The Outride cameras turn Apple iPhones into completely protected action POV cameras and Mophie as signed on as an official sponsor of the vent.
“The Rip Curl is an iconic platform for us to gain global exposure for the OutRide iPhone mounting system and add international footage to the community sharing video using the OUTRIDE app,” said Ross Howe, vice president of marketing, mophie. “Our company has grown up in the surf community of southern California and it’s fitting that we have a presence at this legendary event.”
We haven’t tried the Outride yet, but from the looks of the set-up it could be really cool. Follow the jump for the official word from mophie. [click to continue…]
Valhalla Design & Conquer’s Action Logo March Madness is down to the elite eight. In this round it’s Adidas vs. Vans, Powell vs. Element, Burton vs. Santa Cruz, and Volcom vs. Quiksilver.
Only you can help decide which of these logos makes it into the final four and eventually on to the finals of Champion Action Logo of 2013. Click the link to make your vote count.
While it seems difficult to understand it appears that Pacific Sunwear’s net loss for the fourth quarter over twice as large as analysts expected according to a story on NASDAQ.com.
Loss from continuing operations for the fourth quarter was $22.5 million or $0.33 per share, compared to a loss from continuing operations of $26.7 million or $0.39 per share in the prior year quarter.
Analysts reportedly expected a lost of $0.16 cents a share. Which reminds us two things: never underestimate the loss potential of PacSun, and analysts are rarely good for much of anything.
Spy Optic continued on its long road to profitability in 2012 with a 13 percent increase in sales over 2011 and a $3.8 million cut in losses (Down to $7.2 from $11.02 million in 2011). With sales of $35.1 million in 2012, the company still has a ways to go, but President and CEO Michael Marckx is confident that things are headed in the right direction.
“With continued strong SPY® brand sales, and an annual growth of 13% for 2012 over 2011, we are happy to have achieved our 7th consecutive quarter of year over year growth of SPY® brand products. This is very encouraging for our efforts in 2013, as we have major initiatives lined up, the most important of which is our SPY® Happy Lens™ — the most innovative product SPY® has ever launched. These results also again suggest the strength of our renewed brand positioning and strategies, as also evidenced by increased market share driven by our unique new product collections,” said Michael Marckx, President and CEO. “We are also pleased that our efforts have really paid off with improved gross margins compared to the fourth quarter and annual results of last year. Our top line results were achieved despite significantly lower operating expenses, which in the fourth quarter of 2012 were 29% lower than the fourth quarter of 2011 and sequentially 25% better than the third quarter of 2012. These factors together with our strong annual growth, nicely improved margins, and substantially lower spending, are the hallmarks of a strengthening brand.”
Billabong yesterday hit it lowest stock price since going public, losing 22 percent to 63 Australian cents on worries about the news that maybe coming out as the March 28, 2013 offer deadline approaches, according to a story on Bloomberg.
“Volume today is quite heavy which suggests that something might be up,” said Anson Rosewall, an institutional dealer at BBY Ltd. in Sydney. “It may have been operator error, the second thing going round is that there’s going to be no bid.”
That may have been why Billabong has placed the stock in a trading trading halt “until the commencement of normal trading on Monday, 25 March 2013, or when the announcement is released to the market.” Wonder what the news will be?
