by The Editors on June 9, 2011
After six years at the Jarden Corp. (aka K2) it appears that former shred pro and “award winning snowboard product designer” Sean Tedore has made the move to Capita Super Corporation. And we couldn’t be happier for everyone involved.
At CAPiTA, Tedore takes on a multifaceted role of Product Development and US Marketing Manager. He will employ his design knowledge and engineering background on the snowboard development process and also utilize his network of marketing contacts, media and rider relationships, and strategize new ventures for CAPiTA marketing. . . Tedore had this to say about the change, “Blue and I have known each other a long time. We’re from the same area. I’ve always liked CAPiTA’s approach, and it just seemed like a natural progression to come here and work together.”
It’s good to see a talented, educated, snowboarder with deep roots make the move to a more independent snowboard-only brand. Follow the jump for the official details. [click to continue…]
by The Editors on June 9, 2011
The Agenda Trade Show is returning to Japan after a short hiatus thanks to a partnership with Green Room Inc. Agenda will run at the Belle Salle Harajuku event space August 18-19, 2011.
“This show is really going to take AGENDA, Tokyo, to the next level,” said Aaron Levant, AGENDA President. “Our partnership with Green Room, Inc. enables us to continue to build the awareness of AGENDA, Tokyo, and bring a premium street and footwear show that is a great fit for our vendors, buyers and press with a presence in Japan.”
The Agenda Tokyo Trade Show will feature more than 50 brands such as Supra, DVS, Skullcandy, KR3W and more. Follow the jump for all the details. [click to continue…]
by The Editors on June 8, 2011
PacSun just keeps breaking records it would seem. Today, they dropped to their lowest price in 52 weeks at $2.46, according to a story on Financial News Network. Their previous 52-week record, set six days ago on June 2, 2011, was $2.90.
Over the past year, Pacific Sunwear has traded in a range of $2.46 to $6.84 and are now at $2.50. The 200-day and 50-day moving averages have moved 0.49% lower and 1.09% lower over the past week, respectively.
The mall action fashion retailer still has a ways to go before they break their 10-year low of 93 cents set in January of 2009. Think they can do it?
[Link: Financial News Network]
by The Editors on June 8, 2011
On the heels of news that Nike is taking over the title sponsorship position of the US Open of Surfing comes word that Nike surf brand Hurley has “joined forces” with Billabong and Events NSW to launch the Australian Open of Surfing.
The event, set to take place at Sydney’s iconic Manly Beach 11 – 19 February 2012 is a global, multifaceted youth and sporting event that will showcase the best in surfing, skate, music, fashion and art with an expected spectator audience of 125,000. . . The Australian Open of Surfing is an extension of the world’s largest action sports festival, the US Open of Surfing. The annual event held at Huntington Beach, California, celebrates inclusion and creativity while inspiring the next generation of athletes and artists.
Guess all we need now is a Nike French Open, and a Nike UK Open and we’ll have the Nike Grand Slam of Surfing. Seems Nike just can’t get enough of boardsports these days. Nike. Nike. Nike. Follow the jump for the official word from the ASP. [click to continue…]
by The Editors on June 8, 2011
In his most recent Market Watch column Jeff Harbaugh digs into the timeline of PPR’s as yet un-closed acquisition of Volcom thanks to some new paperwork that was released as part of the settlement of a lawsuit.
From various documents filed as part of the deal, we know that the first contacts between PPR and Volcom management was on February 8th and 9th, 2010 where “…there were initial discussions about the businesses and histories of Volcom and PPR, as well as ways the companies might work together.” On March 11, PPR told Volcom they were interested in a potential strategic transaction. No purchase price was mentioned. There were ongoing meetings and conversations through April, but around April 28, Volcom told PPR that it intended to pursue its strategic plan “…rather than continue talks with regard to any potential strategic transaction…”
Harbaugh also discusses another potential buyer (“bidder A”) who felt that a purchase price of $24 was as high as they were interested in going. If you’re into M&A, click the link and read the rest.
[Link: Market Watch]
by The Editors on June 7, 2011
Suggesting that it’s never too late to launch a video portal Transworld Media has aggregated all of their video content into one site and called it, Transworld TV, according to a story on Transworld Business.
“We´ve finally delivered the perfect platform to service all of TransWorld Media´s original content and exclusive partner videos,” said Editorial Director Rob Campbell. “This makes TransWorld an immediate player in digital content delivery, capable of serving the best video programming whenever our audience demands it.”
Guess playing catch up with ASG’s GrindTV probably isn’t that bad an idea if that’s the business you’re in.
[Link: Transworld Business]
by The Editors on June 4, 2011
Turns out the new Nike The Chosen just do action sports campaign looks much better in print than it does on video if this new Julian Wilson creative is any indication. Then again, it would kind of have to.
by The Editors on June 2, 2011
It’s not all gloom and doom in the action fashion category. Quiksilver may have lost $83 million in the quarter ending April 30, 2011, but they did better than expected and experienced increased revenue for the first time in three years, according to the Wall Street Journal.
For the quarter ended April 30, Quiksilver posted a loss of $83.3 million, or 51 cents a share, compared with a year-earlier profit of $9.42 million, or 6 cents a share. Excluding a $74.1 million impairment charge and valuation allowances against tax assets, earnings from continuing operations in the latest period were 9 cents a share. Revenue rose 2.1% to $478.1 million.
See what owning your own retail stores can do? Follow the jump for the official word from Quik, or click here to see their latest SEC filing (including all the numbers), or here for a complete transcript of the entire earnings call via Seeking Alpha. [click to continue…]
by The Editors on June 2, 2011
In more bad news for the action mall fashion retailer PacSun’s stock reportedly crossed its 52-week low today as it dropped to $2.90 a share, according to a story on The Street. But that’s not all:
TheStreet Ratings rates Pacific Sunwear as a sell. The company’s weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and deteriorating net income.
Doesn’t exactly sound like a vote of confidence, does it?
[Link: The Street]
by The Editors on June 2, 2011
Big wave surfing pioneer Jeff Clark and his ex-wife Katherine Kelly Clark both want the permit that would allow them to hold a big wave surf contest at Mavericks, according to a story in the Mercury News.
On Wednesday night, the San Mateo County Harbor Commission dismissed an application to run the competition by Katherine Kelly Clark and her group, Mavericks Family LLC, after it emerged that the group had accidentally applied under a different name, Mavericks Community LLC, which was not registered as a corporation in the state of California. . . Then Jeff Clark stood up and — unexpectedly — told the commission that he, too, wants to hold a Mavericks surf competition next winter in Half Moon Bay. “There is clearly a lack of experience in business management and large-scale event planning,” he told the commissioners in a not-too-subtle dig at his ex-wife. “I would like to propose another choice.”
What a perfect place to air out personal grievances. Click the link for the rest of a story that will likely get even messier in the coming months.
[Link: Mercury News]
After six years at the Jarden Corp. (aka K2) it appears that former shred pro and “award winning snowboard product designer” Sean Tedore has made the move to Capita Super Corporation. And we couldn’t be happier for everyone involved.
