by The Editors on October 10, 2008
One of the green tickers up in the right hand corner this afternoon was Volcom even though it took what the Orange County Business Journal called “a wild ride” today. They’re saying VeeCo closed this Friday up because of a report by an analyst who said:
Volcom is in a position of strength boasting a balance sheet with no debt, approximately $80 million in cash and clean inventory levels,” Gallacher wrote. “While orders are weak from a shrinking addressable market, Volcom is one brand that continues to gain market share.”
Then again, the only companies in the space to not finish up today were PacSun, Billabong, and Globe. So maybe it had more to do with the market than with what Caris & Co. analyst Claire Gallacher had to say about it.
[Link: Orange County Business Journal]
by The Editors on October 10, 2008
WizzardX.tv is a new “site” created by podcast host Wizzard Media under the direction of a guy named Skip Fredricks. Here’s how they describe this new action sports video site in their press release:
WizzardX host, Emily Dickinson, will bring the tightest shots, gnarliest crashes and sweetest moves to life each week as the channel grows to include over 20 of the top podcast shows in the action sports genre. This week, Emily promotes four anchor shows, Dirt, Street, Snow and Water featuring some of the top professionals in their respective sport.
Okay, correct us if we are wrong, but there aren’t even 10 action sports podcasts worth watching and yet, WizzardX is going to include over 20?
Watching Wizzard X is like walking into some shady action sports past. All the footage is old, the events irrelevant, and the shows mostly unwatchable. The site seems to follow the idea that by throwing enough crap out on the web someone will eventually watch it.
Our big question: who do they think they’re going to fool with this? Certainly not the kids.
[Link: Wizzzardx.tv via Marketwatch]
by The Editors on October 10, 2008
Falling stocks really aren’t news these days, but we still have fun looking at the charts like this one from Quiksilver’s last year. With it’s $2.79 price today Quik has hit its lowest stock price since 1998.
We hate to admit it, but even to us it’s beginning to look like a bargain.
[Link: Yahoo! Finance]
by The Editors on October 10, 2008
That’s one big piece of street art. Guess a big model deserves a big space. It’s nice that Nike has something else to spend money on, isn’t it?
[Link: Hurley.com]
by The Editors on October 10, 2008
Matt Trouts of Eco Trash Bin Rentals and his friends in Agoura Hills, California didn’t think Kelly Slater was getting enough coverage for winning his 9th ASP World Championship so they came up with a plan:
We hung these signs from freeway overpasses here in LA with great pride. This is our proud group of surfers ending the day at a busy interesection in our home town. Just for the record…everyone honked for Kelly! As they should.
Matt, please consider this post as us “honking for Kelly.”
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
This is the sort of thing that makes us chuckle: On October 23, 2008 at 5 PM PST Fuel TV will be broadcasting a one-hour “Highlight Special” of the 2008 Boost Mobile Pro at Trestles that we all watched live online a month ago. Cable TV is so on it.
The show will also give a behind-the-scenes look at the lifestyles of professional surfing and highlights from one of the busiest weeks in the action sports industry including the Surfer Poll Awards where Kelly Slater won his monumental 14th award and Dane Reynolds won the Best Maneuver Award for his aerial artistry in the film “Dude Cruise.”
There’s just nothing like action sports reruns to get the heart thumping. We can hardly wait.
[Link: CNN.com]
by The Editors on October 8, 2008
America’s core sports mall store Zumiez reported their same store sales were down 9 percent in September according to a story on Forbes.com.
The Everett-based retailer said its same-store sales results were dragged down by poor performance California, Arizona, Florida and Nevada – areas that are among the hardest hit by the nation’s housing market meltdown.
The good news is that net sales were up over last year to $33.6 million. Guess that’s what happens when you keep adding more stores.
[Link: Forbes.com]
by The Editors on October 8, 2008
Wachovia is no longer hyped on Pacific Sunwear. So they’ve knocked the mall retailer down a notch from Outperform to Market Perform
Until now, our thesis had been predicated on improvements in merchandising, coupled with new operating efficiencies. However, we believe the assortment is losing focus, evidenced by too much color overall and an overinvestment in the weak-trending fleece category.
It’s kind of laughable that Wachovia would have any opinions about the market when they can’t even run their own business. But they’re still giving the stock a valuation range of $5-6. PSUN is now trading at $4.98.
[Link: StreetInsider.com]
by The Editors on October 6, 2008
It’s difficult to take this kind of event seriously in light of the new Bill Maher film Religulous, however, we know surfing is a religion so why shouldn’t a bunch of priests wear robes down to the beach in Huntington and hold a ceremony in surf dude speak?
The occasion was the Blessing of the Waves, a spiritual — but at the same time decidedly lighthearted — event organized by the Roman Catholic Diocese of Orange. . . . One of the event’s organizers, Father Christian Mondor, helped kick off the proceedings by thanking God (or “The Big Kahuna,” as he also addressed him) for righteous waves and a killer ride for all the surfer babes and dudes assembled before him.
It’s always kind of sad when religion panders for popularity, isn’t it?
[Link: Associated Press]
One of the green tickers up in the right hand corner this afternoon was Volcom even though it took what the Orange County Business Journal called “a wild ride” today. They’re saying VeeCo closed this Friday up because of a report by an analyst who said:
