According to the SnowSports Industries of America the SnowSports Industry is booming. Well of course it is. . . it snowed. As an old industry head once said: “We’re just snow farmers. When it snows we’re all geniuses and when it doesn’t snow, we blame the weather.”
For all the details from their recent press release, follow the jump.
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Quiksilver has not been having a great first quarter. Though their total revenue is up 14% over first quarter 2007, they are down nearly $20 million in profits compared to last year:
Consolidated income from continuing operations for the first quarter of fiscal 2008 was a loss of $14.7 million, or $0.12 per share, compared to income of $6.8 million, or $0.05 per share, for the first quarter of fiscal 2007. . . . Robert B. McKnight, Jr., Chairman of the Board, Chief Executive Officer and President of Quiksilver, Inc., commented, “Although we are not satisfied with our financial results in general, we are pleased that our core apparel and footwear operations enabled us to partially offset the more difficult than expected results from our wintersports equipment business. As we go forward, we are energized to regain focus on our core opportunities. We are executing a variety of strategies to improve our gross margin, reduce our expense levels and generate cash flow to repay our indebtedness. We are resolved to continue to pursue strategic transactions to reduce or eliminate our exposure to our wintersports equipment business.”
[Link: MarketWatch.com]
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Shred or Die is a blown out user generated content site anchored by “celebrity” skateboarder Tony Hawk and funded by Will Ferrel and his Funny or Die friends. Enough said. Full press release after the jump.
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The high-end, Spanish design house of Balenciaga has reportedly created a snowboard binding inspired high-heel for 2007 line. They look a lot like what we pictured the first time we read “Cruel Shoes” by Steve Martin.
[Link: Balenciaga via High Plains Drift via Bent Metal]
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For a guy who has been way too-nice for his own good, we’re happy Chuck Barfoot is celebrating 30 year of Barfoot Snowboards. Ethan Stewart spins up an extremely cools story for the Santa Barbara Independent.
In a turn of synchronicity lost on all but the most well-versed snowboarding historians, this snowy start to 2008 was a downright poetic omen for those who know and love Chuck Barfoot. Often overlooked by the history books, repeatedly finding himself on the wrong end of busted-up business deals, and a lifelong devotee of the ride — be it by land, sea, or snow — this snow-blessed 2008 (a recent excursion found a nearly 10-foot base up Mt. Pinos way) also marks the 30th anniversary for the Santa Barbara-born Barfoot Snowboard Company — the unsung, callused hero of a snow-sliding revolution.
We haven’t forgotten you Chuck, Happy 30th. You know this just means your baby is just moving into her prime. . . right? How about an update of that old Jon Boyer Pro Model?
[Link: The Santa Barbara Independent]
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After announcing that it’s same-store sales in February fell 2.6 percent (which doesn’t sound like a whole lot to us) Zumiez stock took a 14% plunge this morning.
The Everett company (NASDAQ: ZUMZ) said total sales increased last month to $23.1 million from $20.7 million. . . . Analysts were expecting February same-store sales to grow by 1.4 percent to 2 percent so the decline caught some by surprise. Sara Hasan at McAdams Wright Ragen in Seattle lowered her 2008 fiscal year earnings estimate from 97 cents to 92 cents, but she kept a “buy” rating on the stock.
This on the same day that Pacific Sunwear announced that it’s total sales for February increased seven percent and same-store sales for the month increased six percent. Hmmm. . .
[Link: Puget Sound Business Journal]
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Chamonix is a terrifying place, we know it. Apparently a 33-year-old man from Leeds was on the Vallee Blanche with a guide when he got separated from the group.
He dropped below the main path during a traverse across the slope. Realising his mistake, he stepped out of his bindings and tried to climb up to rejoin the main route.
However, the extra pressure from his boots is thought to have been too much for a snow bridge across a crevasse, which gave way.
Reminds us riding there with a friend who said: “If you see me ollie something, you better ollie because most likely it’s going to be a crevasse.
[Link: The Telegraph]
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Volcom is up to six retail stores with the December opening of their Telegraph Ave. store in Berkeley, California “just a stone’s throw from the Cal Berkeley campus.” But they waited until last Friday night to have a grand opening party.
People filled the Volcom store on Telegraph Avenue Friday night to celebrate its grand opening with an all-ages party complete with free beer, free pizza and live music.
Although the boardsports-oriented clothing store officially opened its doors for business in December, they wanted the community to become more familiar with their products.
“We just want to introduce ourselves to the community and let everyone know we’re in town,” said Jeff Roberts, vice president of retail for Volcom.
And the Stone marches on.
[Link: The Daily Californian]
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Stephen Koch, 39, is still snowboarding, but after riding the highest mountain on every content (the Seven Summits) and being the first to snowboard the Grand, Middle and South Tetons, he’s now focusing on family, Real Estate, and the lecture circuit according to a story in the Jackson Hole Star Tribune.
His closest brush with death came in 1998 when an avalanche swallowed him up on his first attempt at a solo summit and snowboard descent of Mount Owen, one of the most difficult peaks to climb in the Teton Range. He was hit with a wall of snow that sent him tumbling down the mountain. He could hear ligaments snapping in each knee as he was tossed violently down the slope. When the avalanche stopped he was lucky enough to be able to crawl out of the snow. Not knowing his back was broken, he painfully inched his way down the mountain, scooting part of the way on his backside. He battled hypothermia through the night until he was rescued.
Sounds like an interesting lecture. . . on what not to do.
[Link: Jackson Hole Star Tribune]
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According to BusinessWire:
Zumiez Inc. (NASDAQ:ZUMZ) today announced that the Company’s conference call to discuss fourth quarter fiscal 2007 financial results will be broadcast live over the Internet on Thursday, March 13, 2008 at 5:00 p.m. Eastern Time and may be accessed at http://ir.zumiez.com. To listen to the webcast, please go to the website at least 15 minutes prior to the start time to register and download any necessary software.
[Link: BusinessWire]
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