by The Editors on January 28, 2009
Pacific Sunwear has cut 11 percent of its headquarters and management staff by laying off 47 people, according to a story on Forbes.com.
The actions announced today are aimed at putting our company in a stronger position to weather the continuing challenges in the macroeconomic environment while enabling us to continue moving forward with the key strategic initiatives we have under way,” said Sally Frame Kasaks, chairman and chief executive.
Rough times for mall fashions, huh?
[Link: Forbes]
by The Editors on January 15, 2009
Kr3w’s party photos (by Shad [click the link for Lizard’s broken nose photos]) from the Zumiez $100k at Keystone, Colorado would suggest that no matter what else may be going on, the Zumiez kids are still selling a shit-load of product. . . and the girls are still stoked on Lizard King and TK.
[Link: Kr3w]
by The Editors on January 15, 2009
When Jacksonville, Florida surfboard shaper Clay Bennett closed up his shop two years ago to move to Texas he reportedly owed close to $30,000 in boards and cash to his customers. Now he’s back in town and some aren’t to happy about it according to a story on Jacksonville.com.
Bennett riled some surfboard customers in 2007 because he owed them boards that had been paid for when he moved to Galveston, Texas, where he continued shaping boards. Bennett said he always intended to settle his debts, but when he was providing boards for prizes at a Gulf Coast surf contest, Florida surf Internet sites such as Fluidgroove and Surf Station lit up with criticism from some of Bennett’s former customers. Others offered support for him, praising his skills and surfboard designs.
For one more reminder that talented, well-meaning shapers are often bad businessmen, click the link.
[Link: Jacksonville.com]
by The Editors on January 15, 2009
Don’t think for a minute that the crew at Active is simply sitting back talking about how terrible the economy is. They’re drawing crowds the old fashion way: Hollywood stars.
Come one, come all! Active Pro Paul Rodriguez will be signing autographs for everyone on Saturday February 7th, 2009 at 2pm. Active Temecula will play host to the P Rod signing this time around. Make sure you’re there. All Plan B Decks at Active Temecula on 2/7 $34.99.
[Link: Active Ride Shop]
by The Editors on January 12, 2009
Women’s Wear Daily did a really nice feature profile on Active Ride Shop in their Independent Spotlight section today.
It was so nice that it didn’t even mention any of the problems we’ve all been hearing about since last fall: no mention of the fact that many manufacturers are no longer shipping product to Active, or the rumor that one company spent last fall physically removing product from the stores. The only nod to the realities of the current business climate was this from Active President Shane Wallace:
It’s tough right now. In our 20 years, this is the most interesting and most difficult environment to move in I’ve seen,” Wallace said, adding that he would wait to up the store count until the economy improves or until Active finds an investment partner to help take the chain national. . . Looking toward the new year, Wallace is cautious, but positive. “We’re playing it very conservative for 2009,” he said, adding that he wouldn’t rule out store closings, if needed. “We’ll do what makes sense for our business.”
Yeah, playing it conservative probably isn’t a bad idea at this point.
[Link: Women’s Wear Daily]
by The Editors on January 11, 2009
Jason Borte takes on the persona of the core surf shop and points out some of their challenges and why they are not going to go away any time soon in a rambling rant on Surfline.com titled Reports Of My Death Are Greatly Exaggerated.
Along the way he drops the names of the bad guys; Hollister, Abercrombie & Fitch, and Target, and quotes the good guys Bob Hurley, Quiksilver’s Tom Holbrook, Billabong’s Royce Cansler, and Whalebone Surf Shop’s Jim Vaughan. This is how Borte wraps it up:
Surfing is magical, and the one place where we all gather outside of the water is magical as well. We, the authentic surf shops, are nothing less than shrines to the sport. We provide the essentials for riding waves, and we provide a place for surfers to connect, communicate, and share the stoke. Just as wavepools fail to deliver the magic found in the ocean, pseudo-surf shops fail to offer a genuine experience. Truth be told, I don’t deserve the credit. It isn’t the building or the smells that make a surf shop special. It’s people. And those people don’t just smell like surf, they do it.
If only we had a lighter handy, we’d be waving it high above our heads right now and typing one-handed.
[LInk: Surfline.com]
by The Editors on January 8, 2009
Lately there are simply too many doom and gloom retail stories hitting to even try to keep up, so here is this morning’s round up:
And the New Year’s joy continues to roll in.
by The Editors on December 27, 2008
Bruce Strunk, 56, owner of Spunky’s Surf Shop in Fort Pierce, Florida who went missing Friday December 26, 2008 at about 9 AM after reportedly running by the bank to make a deposit was found alive 12 hours later. Friends and family has originally found his his truck “abandoned at John Brooks Park on South Hutchinson Island in St. Lucie County” but couldn’t locate him.
“Mr. Strunk was found in some heavy weeds and brush east of the dune line about 9:20 this evening,” said Sheriff Mascara from South A1A where deputies located Strunk. “Our helicopter equipped with an infrared sensing device called a FLIR (‘forward looking infrared‘) located Mr. Strunk, and deputies were sent to the scene.“
He was taken to a hospital for an evaluation. We’re not even going to hazard any guesses on this one.
[Link: WPTV.com]
by The Editors on December 17, 2008
by The Editors on December 17, 2008
Citigroup analyst Kate McShane sent out a note to investors today in which she outlined some stocks to watch and some to run from. Her favorites:
Those include sports apparel and footwear maker Nike Inc., apparel maker VF Corp., sporting goods retailer Dicks Sporting Goods Inc. and sports apparel and footwear retailer Foot Locker Inc., all of which McShane rates “Buy.”
But she’s not, however, a fan of Zumiez.
Names to avoid include Liz Claiborne Inc. and Zumiez Inc., McShane recommended, due to what she considers “elevated credit risk and uncertainty of business fundamentals.”
We’re not so sure we agree with your police work there, McShane.
[Link: Money.cnn.com]
