by The Editors on June 23, 2011
Journeys owner Genesco, announced today that it has purchased Schuh Group Ltd., a similar chain of “casual and athletic footwear” stores based in the UK for 100 million pounds.
Headquartered in Scotland, Schuh operates 59 stores in the United Kingdom and Republic of Ireland, 16 concessions in Republic apparel stores and one of the U.K.’s largest online shoe websites, www.schuh.co.uk. The company’s core product selection consists of a broad range of branded casual and athletic footwear complemented by a meaningful private label offering targeted at its 15- to 24- year old core customer. For the fiscal year ended March 27, 2011, Schuh generated net sales of approximately 164 million pounds with an operating margin above 9% adjusted for goodwill amortization.
Those in the action footwear business know how big a deal this is for the changing EU action sports market. As one skate shoe worker said, “Hopefully they don’t Schrewh it up!” For more details, follow the jump. [click to continue…]
by The Editors on June 23, 2011
According to an email posted on the N-SB.org site Keith Hufnagel has announced that he has closed the HUF LA store on Sunday, June 19, 2011, with no plans to reopen. Hufnagel said:
We unexpectedly lost our lease recently at our HUF LA shop on Fairfax, and unfortunately closed its doors this past Sunday. We are all bummed about it, and will miss being on the block and all the good times we had at that shop… But change happens and we will keep cruising on and making great stuff.
Those following along will remember that Hufnagel announced the closing of the SF store in early March 2011. It would appears that HUF is getting out of the retail business and putting all their efforts into the HUF brand. Oddly, this seems to be the opposite track of most other brands in the space. Only time will tell.
[Link: N-SB.org]
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 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 May 31, 2011
The owner of Skim X, a planned indoor skimboarding facility in Roseville, California, was found shot to death inside his place of business Monday afternoon May 30, 2011, according to a story in the Placer Herald.
Christopher Dale Northam, 44, of Rocklin, was found inside Skim X, in the 8200 block of Industrial Avenue in Roseville, with at least one fatal gunshot wound. . . Police responded to reports of an argument and multiple shots fired inside the business shortly after 3 p.m. . . “During the call, the person on the phone line with us then heard three gunshots, at least three, maybe more gunshots inside the business,” said Roseville Police Sgt. Daniel Wanamaker at the scene.
Northam and his son were reportedly working on a new kind of boarding complex that mixed ramps, water, and slick surfaces to create a skimboarding skatepark.
We’ve been following the business for a while thanks to its seemingly quixotic business plan. Northam reportedly said the park would open in June. So far no arrests have been made. Our thoughts are with his family.
[Link: Placer Herald and Sacramento Business Journal]
by The Editors on May 18, 2011
On May 2, 2011, Atlanta’s surf, skate, snow shop Ambush Boarding Company got hit hard in a theft that saw $100,000 in product removed from the store by some kids who came in through the roof. Now, thanks to a mom who called police after noticing her son’s new collection of high end products, two people have been arrested and police are looking for a third, according to a story in the Atlanta Journal Constitution.
Cobb police Sgt. Dana Pierce said police have recovered about $37,000 of the approximately $100,000 in skateboards, video cameras, clothing and sunglasses stolen from the Ambush Boarding Company store on Cobb Place Lane on May 2. . . Police have arrested Dustan Brady, 20, of Marietta, and a 15-year-old whose name has not been released because of his age. Both are charged with burglary and theft by taking.
Thanks, mom.
[Link: Atlanta Journal Constitution]
by The Editors on May 11, 2011
The Newport Beach, California City Council voted unanimously last night (May 10, 2011) to approve a zoning change that would allow iconic 50-year-old surf shop The Frog House to remain in its current location, according to a story in the Daily Pilot.
By unanimously approving a zoning change for the store’s West Newport property, the council caused cheers from the crowd. . . “I’m stoked,” shop owner T.K. Brimer said after the vote. “The city has treated us very well at every step.”
Dealing with City Hall is never easy. It is good see things working out well this time.
[Link: The Daily Pilot]
by The Editors on May 10, 2011
Zumiez CFO Trevor Lang has reportedly resigned from his position at the core mall retailer effective in June 2011, according to a story on Reuters.
Lang, who has been with the company for four years, also resigned as chief administrative officer and secretary. . . Zumiez . . has started looking for a suitable successor.
The street apparently misses him already as the stock was down 2 percent in after hours trading.
[Link: Reuters]
by The Editors on May 9, 2011
Forzani Group, the parent company of Canada’s big box sporting goods store Sport Chek has reportedly been purchased by Canadian Tire Corp., according to a story on Bloomberg.
When we first saw this story this morning, we couldn’t have cared less about it, but after a few emails it became apparent that action brands who depend on mainstream, big-box sales to keep them rolling actually care about this stuff.
Canadian Tire, which has more than 1,200 retail and gasoline outlets, already sells bicycles and other sporting goods, as well as home items. The acquisition gives Canadian Tire Chief Executive Officer Stephen Wetmore stores under the Sport Chek and National Sports brands.
It’s nice to know that this is the last time we’ll have to mention either of these blown-out mainstream retail establishments. Good riddance.
[Link: Bloomberg]
by The Editors on May 8, 2011
Rip Curl added 19 Victoria, Australia retail shops to its quiver with the purchase of Ozmosis, according to a story on Ragtrader.com.
Rip Curl Asia Pacific CEO Steven Kay said the company was looking forward to working with its new Melbourne-headquartered team. . . . “Melbourne is one of the great epicentres of youth culture and Victoria home to some of the best surfing, skiing and snowboarding in the country, and Rip Curl wants to provide its customers with better access to the lifestyle products they need. Ozmosis can really help us do that,” Kay said.
This means Rip Curl has added 34 Australian store fronts in the last year. Looks like they’re set on staying in the game.
[Link: Ragtrader]
Journeys owner Genesco, announced today that it has purchased Schuh Group Ltd., a similar chain of “casual and athletic footwear” stores based in the UK for 100 million pounds. 
