by The Editors on October 30, 2008
Sales managers know the truth: the midwest is a gold mine. The rest of us are always caught off guard. Today we learned about a new action sports clothing mall store. It’s called Glik’s and it is a 111-year-old family run store that recently opened it’s 53rd location. This one is in Hutcinson, Minnesota.
Glik’s, which carries name brand apparel for young men and women, has seven other Minnesota stores in Alexandria, Detroit Lakes, Grand Rapids, Marshall, Park Rapids, Virginia and Willmar. The company also has stores in Missouri, Illinois, Indiana, Michigan, Iowa and Wisconsin. . . .Among the brands carried by Glik’s are Silver Jeans, Billabong, Hurley, Roxy, Fox, Quiksilver, DC, and Volcom.
Now we know.
[Link: Hutchinson Leader]
by The Editors on October 20, 2008
Earlier today reports of Miami-based action sports mall retailer Adrenalina putting out a $293 million buyout out offer to Pacific Sunwear have now turned into stories of the whole deal being tabled according to a report on Just-style.com.
Original reports quoted Adrenalina CEO Ilia Lekach saying the following:
This action represents our confidence that Adrenalina can reinvigorate PacSun – a powerful brand name whose underlying retail concept has grown stale – by applying our innovative approach of fusing an exceptional product mix to an exciting entertainment destination,” Lekach said in a news release.
The Motley Fool has already called bullshit on the deal.
While the surf-and-skatewear company could use a lift — its stock is off about 80% from its 52-week high — this looks like little more than a publicity stunt or a bid to boost Adrenalina’s own stock price. That’s because its chairman and CEO is Ilia Lekach, who has a rich history of playing such games.
Adrenalina stock got a 40 percent bounce this morning all the way up to $1.70. So maybe the offer was enough.
[Link: Just-Style and Business Journal and The Motley Fool]
by The Editors on October 20, 2008
Santa Cruz, California’s woman-owned shop Paradise Surf Shop has a new owner according to a story in the Santa Cruz Sentinel. Anna Macken, 26, saw a post on Craigslist and bought the shop.
“I have always known that I wasn’t interested in pursuing a high-powered career in, say, the financial district,” she said. “I was wondering which direction to take my life in, I knew I wanted to be able to surf and hang out with my son after he gets out of school and I came across a posting for the shop and pursued it.”
Macken is a single mom with a 6-year-old son and a degree from Mills college. According to the story she is currently working on a master’s in business administration there. There’s nothing like running a surf shop to introduce people to the realities of retail; especially in these times.
[Link: Santa Cruz Sentinel]
by The Editors on October 16, 2008
Props Snowboard and Skateboard Shop in Winnipeg, Manitoba, Canada went up in flames in the early hours of October 15, 2008, according to a story in the Winnipeg Sun.
I would say an early damage estimate would be in the region of $500,000,” said Det. Darryl Drewniak, of the arson strike force, who was among the first investigators on scene. “There is substantial damage to the property.”
It would appear that arson was suspected in the “mysterious fire.”
[Link: Winnipeg Sun]
by The Editors on October 10, 2008
Set over two floors, the store will showcase Volcom men’s and women’s apparel, as well as Special Edition pieces. . . . The theme of the store will focus on V-Entertainment – Volcom’s very own record label. Over the coming months we will be announcing regular gigs at the store – so be on the lookout.
[Link: Snowboardclub.co.uk]
by The Editors on October 9, 2008
This afternoon at around 12:50 PM Zumiez stock broke through it’s previous 52-week low ($11.85 in July 08) to $11.55 and it appears the bottom has not been reached thanks to reports yesterday of a less than stellar September.
Interestingly, Zumiez’s number two competitor in the malls of America, The Buckle, was up $1.19 today to $49.14.
by The Editors on October 9, 2008
It looks like teen retailers may have found the bottom of the two-and-a-half year “discretionary recession” according to the 16th semi-annual “Taking Stock with Teens” research survey published by Piper Jaffray.
Our national school survey indicates total spending on fashion is essentially flat with last fall,” said Klinefelter. “While it may be too early to call an inflection point, the results of the survey may point to an improvement in spending on this category within the next six to 12 months. Historically, fashion replenishment cycles have lasted three to five years, followed by transition cycles lasting another two to four years.”
The group that Piper oddly calls “West Coast Brands” made up of PacSun, Volcom, Quiksilver, Zumiez, etc. has moved past Hollister into first place since the April report. But if you take them on their own, Hollister is still kicking everyone’s ass. Behind Hollister is fForever 21, American Eagle and Abercrombie & Fitch.
Click the link for the rest of the “key findings.” None of it changed much from the last report.
[Link: Market Watch]
by The Editors on September 29, 2008
According to a story in the Wall Street Journal (which we can’t read because we’re not subscribers) Foot Locker Inc. has reportedly said that is paying $102 million in cash to buy skateboard mail order company CCS from Delia’s Inc.
The reason: because Foot Locker wants “to capture more younger customers. . . The skateboarding-inspired apparel market has been a bright spot as consumer spending dwindles in segments like basketball shoes.”
[Link: The Wall Street Journal]
by The Editors on September 22, 2008
We don’t normally pay much attention to things that roll (other than throwin’ bones), but this new collab between UNIV and Ellsworth bikes caught our attention because we need a new bike and frankly, we we’ve never been that down with the fashion fixie crowd. This thing can be shifted and it’s got six inches of travel.
UNIV brings a coastal influence and laid-back outlook to the project, making it a high tech mountain bike for the street. UNIV and Ellsworth worked together for months on the building of the bike and all specifications are to suit the limited collaboration project. The bike had been in discussion for a long time as both brands are located near each other in North San Diego County California. Only six of these bikes will be made and will retail for more than $5000.
Okay, so maybe we won’t be picking one up tomorrow, but that shouldn’t stop you from dropping $5k.
[Link: UNIV]
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by The Editors on September 19, 2008
Don’t think he could have timed this any better but apparently Richard Hayne, the chairman and president of Urban Outfitters sold 1.4 million shares in the company earlier this week and brought in a cool $50 million. He should be able to roll on that for awhile, huh?
[Link: Barrons]
Sales managers know the truth: the midwest is a gold mine. The rest of us are always caught off guard. Today we learned about a new action sports clothing mall store. It’s called Glik’s and it is a 111-year-old family run store that recently opened it’s 53rd location. This one is in Hutcinson, Minnesota.
