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]
by The Editors on September 15, 2008
Analysts at Piper Jaffray & Co. downgraded Zumiez today saying that the companies shares have “surpassed our target objective” and are “trading essentially in line with the long-term earnings growth rate” and they’re giving Zumez a “neutral.”
We expect shares to trade in range into the 1H of 2009 and would recommend adding to positions on sector pullbacks – longer-term, ZUMZ offers a superior investment profile. Our 2-3 year outlook remains positive, tied to square footage growth, solid category trends, and the company’s ability to orient its merchandise to evolutions in lifestyle cycles. We’ve re-set our 12-month price target to $18/share based on 20x FTME EPS (FQ4-FQ3), in line with the company’s LT earnings growth rate.
Sure, fine.
[Link: Street Insider]
by The Editors on September 9, 2008
When we look back at our time at the fall ASR Show we think of all the great things we missed: the people we didn’t talk to (like Hurley’s Bar Rafaeli, the skateboarding we didn’t see, and the amazing product that we missed. But then we realize that at least we have these photos to remember the show a by.
Follow the link for more photos and captions.
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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.
