by The Editors on January 2, 2013
Absolute Distributors (the people who bring you Penny and Z-Flex Skateboards) will now be distributing some of the finest quality men’s products from Uppercut Deluxe.
Absolute Distributors Founder Ben Mackay said, “Luke and Steve are living legends in the world of barbering and their brand’s explosion within their own scene reminds me a lot of my humble beginnings within the skate industry. When they approached me to work with them as a partner, it was an easy decision not only because Luke, Steve and Kiera are great people, but their products are absolutely fantastic.”
For the official word, follow the jump to see their products in person check out their booth at the Agenda Show in Long Beach. [click to continue…]
by The Editors on December 20, 2012
Calling Billabong’s last year a “blown-out” session would be an understatement. The company has sold off a piece of itself, turned down a good buy-out offer, lost an OK buy-out offer (along with two others), and now is considering another from Billabong America’s Paul Naude.
It’s not exactly the best time for the companies CFO to quit, but that’s what happened last night (December 19, 2012) according to a company update.
Billabong International Limited (Billabong or Company) advises that after seven years’ service with the Company, Craig White, Chief Financial Officer has left the organisation effective today. . . The Company would like to thank Craig for his service and wishes him well in his future endeavours.
In the meantime Peter Bryant, the America’s CFO, will apparently fill in for the global brand while they hunt for a suitable replacement. The release mentioned to reason for White’s sudden departure.
by The Editors on December 18, 2012
The Boardroom International Surfboard Show (formerly known as the Sacred Craft show) has now apparently “joined forces” with Surf Expo parent organization GLM Shows.
“The resources and expertise GLM brings to the table will be an incredible asset for not only the show, but the shapers and exhibitors it currently serves,” says Scott Bass, founder of the event. “It will enable The Boardroom to expand to new regions, grow consumer attendance at the events, all while maintaining an unwavering focus on what’s made The Boardroom a success: surfboards, surfing, and the surf culture.”
Guess this will be the consumer Surf Expo minus all the wakeboards, waterskis, and tourist tchotchkes. Or will the addition of “business-to-business” days make it Surf Expo west? Follow the jump for the official word from The Boardroom. [click to continue…]
by The Editors on December 17, 2012
Nike doesn’t seem afraid to shift things around and today they moved former VP of Action Sports Sandy Bodecker to work on “special project involving long-term production innovation” and pushed former Hurley President Roger Wyett (pictured left with Bob Hurley) into the VP of Action Sports job, according to a story on Oregon Live.
In addition, Nike announced that Jim Calhoun, chief executive of Converse Inc., will report directly to company Chief Executive Mark Parker. . . “Roger’s leadership over these important businesses will help continue to drive success for Nike,” Parker said. “I’d like to thank Sandy for his strong leadership over the last five years and look forward to his continued significant contributions to the company. . . Scott LeClair, vice president and general manager of Nike Skate and Nike Snow, will report to Wyett. Bob Hurley, currently the interim Hurley chief executive, will also remain in that position and will report to Wyett.
Maybe these moves are a result of recent reorganization on Nike surf vs. Hurley issue. Sounds like someone at Nike is continuing to put ducks in orderly rows for a change.
[Link: Oregon Live]
by The Editors on December 17, 2012
Thanks to all kinds of rumors surrounding a possible $1.10 a share buy-out by Billabong America’s president Paul Naude, trading in the company’s stock has once again been halted, according to a story in the Hearld Sun.
Mr Naude, who stepped aside from the role last month to investigate a management buyout, is believed to have lined up US-based private equity group Sycamore Partners to help fund the deal. . . According to market speculation, the offer was put to Billabong chairman Ian Pollard late on Friday. . . It would value the company at $526.8 million. . . The group’s shares jumped to a two-month high of $1.01 yesterday as opportunity-hungry investors leapt on early speculation of a deal shortly after 11am.
The halt on trading was requested by the company “until tomorrow, pending an announcement.” Well, Parko won the world title, so guess that means the deal has to go through.
[Link: Herald Sun]
by The Editors on December 13, 2012
Thanks to what is being called “significantly lower income-tax benefits and weaker markets” Quiksilver’s fourth-quarters earnings were down 94 percent, according to a story on Marketwatch.
In the latest quarter, Quiksilver recorded a benefit for income taxes of $7.4 million, significantly lower than the $64.3 million provision recorded a year earlier. . . For the quarter ended Oct. 31, Quiksilver posted a profit of $4.4 million, or two cents a share, down from $67.9 million, or 38 cents a share. Excluding special items such as impairment charges and restructuring expenses, profit was seven cents a share in the latest quarter. Revenue grew 2.5% to $559 million.
In spite of all this CEO Bob McKnight is “pleased, despite economic headwinds in certain markets, especially Europe and Australia, that revenues for fiscal 2012 increased across all three regions, all three major brands and all three distribution channels, in constant currency.” So there’s that.
[Link: Marketwatch, Call transcript via Seeking Alpha]
by The Editors on December 12, 2012
The New York Times looks into the issue of global warming and the future of the snow resort business. If some scientists are correct the entire business could look quite different in 78 years (not that we’d care all that much at that point.)
Under certain warming forecasts, more than half of the 103 ski resorts in the Northeast will not be able to maintain a 100-day season by 2039, according to a study to be published next year by Daniel Scott, director of the Interdisciplinary Center on Climate Change at the University of Waterloo in Ontario.. . . In the Rockies, where early conditions have also been spotty, average winter temperatures are expected to rise as much as 7 degrees by the end of the century. Park City, Utah, could lose all of its snowpack by then. In Aspen, Colo., the snowpack could be confined to the top quarter of the mountain. So far this season, several ski resorts in Colorado have been forced to push back their opening dates.
Guess by that time the kids will have to move indoors to some refrigerated slopes. Or, maybe the Republicans are right and by then we’ll be entering the next ice age. Who do you believe?
[Link: New York Times]
by The Editors on December 10, 2012
You’d notice that several of the companies listed in Unruly’s “Most Shared Social Video Brands of 2012 are in our space. Looks like DC Shoes must be doing something right. They beat the colored cow and Coke when it comes to video. Of course Nike slayed them all and the Google took top prize (even thought they’re probably responsible for most of the views). Follow the jump for the whole chart. [click to continue…]
by The Editors on December 10, 2012
Vicki Redding, the former La Jolla Group Senior Vice President, Merchandise and Design and Quiksilver/DC Shoes Senior Vice President Americas Merchandise and Design, is now Vans new Vice President, Apparel according to an announcement made by Vans President Kevin Bailey today (December 10, 2012).
Vans’ Apparel business is rapidly growing in both size and complexity and is a critical component to our business initiatives,” said Bailey “Vans has a strong team in place and having someone of Vicki’s caliber and experience will only strengthen our brand.”
For the official word from Vans, follow the jump. [click to continue…]
by The Editors on December 10, 2012
Nike and Adidas aren’t the only heritage athletics footwear brands rolling skateboarding. Nope. Welcome New Balance to the party with New Balance Numeric a collaboration between New Balance, Black Box, and Westlife Distribution.
“New Balance is proud to partner with Black Box on the New Balance Numeric skate footwear initiative,” says Rob DeMartini, President & CEO at New Balance. “As one of the most authentic and talented skate companies in the industry, Black Box offers industry knowledge and a strong commitment to skate specialty retailers that matches well with our 107-year-old tradition of delivering technical design-forward performance products for athletes.”
Jamie Thomas is obviously on board.
“I have always found the heritage and integrity of New Balance inspirational, therefore it’s truly an honor for Black Box to partner with New Balance on the New Balance Numeric project,” says Jamie Thomas, Black Box company founder and professional skateboarder.
And so is Westlife’s Mike West.
“The vision for New Balance Numeric is to bring something unique to skateboarding. We combine the East Coast heritage and supreme workmanship of New Balance with the West Coast lifestyle and culture of Skateboarding,” says Michael Akira West, President & CEO at Westlife Distribution.
For what’s left of the official press release, follow the jump. [click to continue…]
