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Surfing
Surf of the Dead from Chad Huff on Vimeo.
[Link via TheVansBlog]
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In its original sales announcement in August 2008, Quiksilver was reportedly unloading Rossignol to Chartreuse & Mont Blanc for EU75 million in cash and EUR25 million sellers note (or a total of EUR100 million). But that was in the days before the crash. Now the deal, which is supposed to close “in early November,” looks quite different.
. . . the parties agreed to recast the terms of the sale due to the recent challenges in the global credit markets. The revised transaction reduces the cash payment to Quiksilver upon closing from 75 million to 30 million and reduces the seller’s note from 25 million to 10 million.
So, the price former Rossignol CEO Bruno Cercley is now paying for the company is only EUR40 million. That’s a 60 percent discount after only two months. How’s that for a company for which Quiksilver originally paid $320 million?
[Link: MarketWatch]
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Citing weak sales of surf and snowboard gear in the UK, O’Neill’s exclusive UK distributor Blacks Leisure has reportedly begun talks to pull out of the deal with the surf company.
The Northampton, England-based company plans to end the O’Neill contract in January, Chief Executive Officer Neil Gillis said today in a telephone interview.
Wonder if that drop in sales had anything to do with the issues surrounding the company’s firing of Darren Spurling back in May?
[Link: Bloomberg]
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Volcom released it’s third quarter financial results yesterday and despite an economy in turmoil, the company has increased total consolidated revenues by 23 percent. Wooly is pretty happy about it.
Our solid third-quarter performance is testament to the strength of the Volcom brand and our team amid a challenging retail environment,” said Richard Woolcott, Volcom’s chairman and chief executive officer. “Managing our business with discipline, commitment and focus is essential during these times of economic uncertainty, and we strongly believe that our current position as an industry leader and our healthy balance sheet will empower Volcom over the long term.”
We missed the conference call, but if you still want to listen to a replay just call (800) 642-1687 (domestic) or (706) 645-9291 (international) and enter reservation number 69147961. Or, click here for a full transcript of the call.
[Link: Trading Markets]
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Guess that’s a better title that “The Surfing Wino,” though some of the greatest surfboard shapers in history may tend to disagree. Oded Shakked is the winemaker behind Healdsburg’s Longboard Vineyards and this is his story. One side note: Oked’s last name is apparently pronounced Sha-KED, and not as we’d hoped: Shacked!
[Link: Press Democrat]
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We’d probably be more embarrassed that anything, but Quiksilver would like everyone to know that several of the stars of MTV’s The Hills enjoy wearing Quiksilver duds on the show.
Doug Reinhart, Brody Jenner and Frankie Delgado are fans of Quiksilver – Fact! . . . Check them rocking Quik on MTV’s hit show “The Hill’s”. Full episodes online here!! . . . Snag your own Quik gear online at Quiksilver.com or stop in a Quiksilver Store near you!
Ah, we’re kind of thinking this might be a great reason not to wear the stuff. Then again if we paid that much money getting our clothing on MTV we’d probably have to pimp it all to hell, too.
[Link: The Mountain And Wave]
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Only five days left. Do you know who you’re voting for? Jack Johnson does.
[Link: Jack Johnson Music]
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Hey, girls! Want to make it in action sports? No matter how tough you are, you better pretty up if you want to get paid. EXPN shows exactly what we’re talking about in their photo essay Gender Bias featuring Mimi Knoop (pictured), Maya Gabeira, Lauren Perkins, Torah Bright and others.
It may not be easy to ollie the corner of the combi, but it sure is pretty.
[Link: EXPN]
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Derek O’Neill, CEO at Billabong, told investors that the falling Australian dollar is great for company profits, according to a story in The Australian.
There has been a dramatic fall in the value of the Australian dollar, in particular against the US dollar and the euro,” Mr O’Neill said. “After so many years of watching the company’s reported profits eroded by an appreciating Australian dollar, there is now the prospect of strong reported gains from a depreciating Australian dollar.” . . . Every 1c movement from these assumed exchange rates meant a 0.6 per cent change in profit for Billabong, Mr O’Neill said.
And that must make Paul Naude very, very happy.
[Link: The Australian]
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