The Silver Mountain Resort auction includes an indoor waterpark, a property management contract for more than 270 condo units, another 14 commercial units, the 1,600-acre ski resort and its Morning Star Lodge, the nine-hole Galena Ridge golf course plus a restaurant and other development property. Also included in the sale is the 3-mile-long Silver Mountain gondola that carries people from Kellogg to the lodge.
The currently owner, window and door maker Jeld-Wen has decided to get out of the resort business to “focus on its core business.” The online auction runs until March 19, 2013 and any of the pieces are available for purchase. We’re currently checking out that waterpark.
In the race for corporate “efficiencies” Quiksilver is making some pretty big changes.
In addition to COO and Global Brand President Craig Stevenson resigning (he’ll be paid through October 31, 2013), the company is apparently cutting the snowboarding team (but keeping Travis Rice) and cutting the skateboarding team (but keeping Tony Hawk). The Quiksilver surf team has also been reportedly trimmed by several surfers. There are also rumors that Quiksilver Women, the Waterman Collection, the VSTR brand and Dane Reynolds side project Summer Teeth were also set aside.
Over at DC Shoes they’ve cut their entire BMX team and their surf team. There is also mention of auto (and co-founder Ken Block himself) being cut as well. As one surf industry stalwart ironically put it, “Can’t wait until the same thing happens at Billabong.”
One thing to remember: Hollisterdoesn’t spend a dime on “core teams” and they don’t seem to be having any problem in the “So Cal inspired clothing for Dudes and Bettys” space. Still no official word from Quik, but then again, their information distribution department never has been very effective. We’ll let you know if and when anyone shares any information on what is obviously a very bad day for action sports athletes, media, and the industry in general.
[Editors Note: The details in this post have been in flux all day thanks to various sources adding and subtracting details. So far, no replies to emails sent to Quiksilver corporate PR and other contacts.]
We’ve ignored Adam Miller’s skateboard to skateboard circus trick backflip for a while now, but when Ad Age decides to call this 15 second edit out as the “lift” Tony Hawk’s Ride Channel needed we just couldn’t pass it up any longer. Turns out this board-to-board stunt is the Ride channel’s “most view video with 2.5 million views.”
A second Miller video, one that shows the skater practicing for the trick and falling repeatedly (a.k.a. a “slam video”), is the channel’s trending video this week with more than 300,000 views. Those videos helped Ride, which is backed by Tony Hawk, capture the No. 7 spot on our YouTube Tracker as well as the designation Biggest Mover of the Week. The channel views grew by 399% over last week.
You see where this leads, right? More whack edits of amazing circus stunts. Yay!
La Jolla Group CEO Toby Bost is making his network television reality show debut tonight (February 22, 2013) when the fashion executive goes undercover with his own employees on the CBS show Undercover Boss. On the show Bost will apparently be playing the part of O’Neill CEO (as opposed to Metal Mulisha CEO, or Rusty CEO, FMF CEO or The Berrics CEO) as he puts on a “medical school” drop out disguise and hangs out with employees he’s never met, you know, retail store employees, the guys in the warehouse, and the screen printers. Bost, who does amazing job as a nerdy middle aged worker, enjoyed the experience greatly.
“The UNDERCOVER BOSS experience was intense, and it certainly prompted me to remember the importance of little details,” said Bost. “The opportunity allowed me to examine our company from a new perspective and learn important lessons from our employees. In my position, you aren’t often able to replicate the retail experience through the eyes of an entry-level employee, for instance, so this allowed me to see the challenges they face every day. It also provided a closer view into our training and communications procedures that I wouldn’t have had the same access to otherwise.”
It will be interesting because the employees who work for La Jolla Group and don’t know who Bost is are probably some pretty entertaining people (or paid professional actors). The show airs tonight, February 22, 2013 at 8 PM on CBS. Check your local listings or follow the jump for the official word. [click to continue…]
We just breezed over Billabong’s half year financial results for the six months ended December 31, 2012 and found a few things interesting and not all that surprising items. Here they are:
• Previously announced due diligence by Paul Naude and VF Corp is expected to conclude next month
• Sales fell in the Americas by 5.3 percent (blame Canada)
• Billabong lost AUS$ 536.6 million in the last six months.
• There will be no dividends paid in 2013
• Full year EBITDA guidance is now “in the range of $74 million to $85 million” as opposed to the “$85 million to $92 million” range reported in December.
• The performance of Nixon has not met expectations
• Trading conditions in Europe are difficult
Craig Woolford, a Citygroup analyst is warning investors that Billabong “could downgrade full-year earnings guidance when it delivers its first half result this Friday,” according to a story in the Wall Street Journal.
“We see risk the full-year guidance of 85 million Australian dollars (US$87 million) to A$92 million in Ebitda may be revised lower,” the broker said in a note to clients, explaining that the surfwear retailer may seek to provide significant clarity about its earnings trends given two private equity-backed consortia are conducting due diligence.”
Maybe this comes as one more reason Launa Inman (right) and the Billabong board should just take the VF Corp money and go their own ways.
For years most people have known Ryan Clements (right) as the guy on the mic for Skate Park of Tampa events and live webcasts, or as a partner in the Skate Park of Tampa business, but there is more. For the past few years, Clements has been acting as a business manager for several high profile professional skateboarders like P-Rod and Torey Pudwill.
Since leaving the Skate Park of Tampa at the end of 2012, Clements and Heath Brinkley have started a company called Excel to (among other things) help pro skateboarders keep track of their money. Transworld Business’sMike Lewis talked to Clements and Brinkley about what they do and the problems young pros have. Here’s a slice of what Clements passes along:
For the younger guys it’s that they don’t realize how all the money they’re getting isn’t theirs. They still have to pay Uncle Sam and they don’t necessarily realize that or how it works. Explaining the difference between being an employee and a contractor is important. For the older, more established guys it’s more about making them aware of how much money they’re blowing on eating, drinking, and other purchases that leave them absolutely nothing to show. I have one client that didn’t file tax returns for eight years. I don’t know what he was thinking, but it eventually caught up to him via a levy on his checks from his sponsors. That’s when he called me. We cleaned that mess up with the assistance of a tax attorney.
We all could use someone who is smarter than we are to mind our money. Luckily, skateboarders have Ryan. Click the link for the rest of the post.
PPR released their 2012 full-year results and it gave Jeff Harbaugh a chance to dig in to get a better idea of what has been going on at Volcom since they were purchased by the French fashion titan a year and a half ago. From what Harbaugh could figure, it looks like things are going okay, but they just might be down for the year.
At best, Volcom has grown only a bit. If that 261 million Euros in revenue includes Cobra and Tretorn, Volcom’s year over year revenues could have fallen. . . I would like, at this time, to renew my congratulations and admiration, expressed at the time of the deal, to the Volcom management team for the timing of their sale to PPR and the price they got.
Couple this with PacSun’s recent launch of their own Kendall and Kylie Jenner branded fashion line (a shockingly rare smart move from the mall retailer) and Volcom could be sitting in a less-than-happy revenue place in the coming quarters. For the entire Harbaugh perspective click the link.
The Agenda Show will be dropping in on Las Vegas in August 2013 as part of a strategic alliance called Modern Assembly. Agenda will join AccessoriesTheShow, Capsule, Liberty, MRket, and Stitch at the Venetian and Sands Expo.
In a move that dispels the myths and competitive nature between the fashion tradeshows of yesteryear, the shows that comprise Modern Assembly will provide an ideal mix of resources in the right environments, with the utmost of convenience by co-locating and cross-marketing. Starting this February, Modern Assembly will present a strategic, unified and global approach to promoting Las Vegas as a major fashion destination, to elevate the experience for all participants.
Agenda’s Aaron Levant believes this union of smaller shows is the perfect way to march into the Las Vegas market.
“The Agenda Show thrives on deeply established exhibitor and retailer relationships in the streetwear, lifestyle, and action sports industries and we couldn’t be happier to be a part of this new union of shows,” says Aaron Levant, founder of Agenda. “Modern Assembly will solve the increasing feelings of discontent surrounding the Las Vegas market, by offering a familiar and trusted trade show environment which houses four remarkable shows under one roof.”
We’re looking forward to the Las Vegas August heat already. Pool parties anyone? For the official word, follow the jump. [click to continue…]
VF Corpcouldn’t be happier with their numbers from quarter four and from 2012. Their revenues were up 15 percent to $10.9 billion (yes, billion) their gross margin is up 75 basis points, and their earnings per share were up 17 percent. And at least some of this is thanks to Vans.
The Vans® brand achieved a 21 percent (22 percent in constant dollars) increase in global revenues in the fourth quarter, with 14 percent growth in the Americas region and continued outstanding momentum in Europe, where constant dollar revenues rose nearly 60 percent. The Vans® brand also posted double-digit revenue increases in both its wholesale and direct-to-consumer channels.
Looks like they’re perfectly positioned to add Billabong to their quiver, doesn’t it? For the rest of the details, follow the jump or click here for all the financials. [click to continue…]
