by The Editors on January 18, 2008
Volcom is blaming a “weak retail environment” for causing it to lower it’s 2008 financial outlook.
The apparel company now says 10 percent earnings growth and 18 percent revenue growth “are achievable” in 2008. It previously forecast 20 percent growth for profit and sales. . . . Volcom now expects to report fourth-quarter earnings of 29 cents or 30 cents per-share on revenue of $67 million to $68 million. Volcom earlier estimated profit of 30 cents to 32 cents per share and sales of $70 million to $73 million.
[Link: CNNMoney.com]
by The Editors on January 16, 2008
Australian surfer Nic Muscroft doesn’t seem like the kind of guy who would wish for anyone to get kicked off the ASP World Championship Tour, but if the ASP decides to sanction Chris Ward for beating up girls in Mammoth, then Muscroft could sneak on to the WCT Tour.
It just depends what happens with him, it could just stretch out for a while, depending on if there’s a court case or whatever,” he said. . . . “If something happens I could get his spot, but I’m not sure what will happen, it will depend if he’s still allowed to compete, I’m really not sure. I haven’t heard anything (official) yet.”
If he is guilty as charged he should of course be pulled off the tour according to ASP rules, but it will be interesting to see if they make that happen.
[Link: Geelong Advertisers]
by The Editors on January 16, 2008
It’s been rumored forever and denied forever, yet strangely today it was officially announced that Volcom, the big, powerful, publicly traded company has purchased tiny, core, eyewear company Electric Visual for $25.5 million in cash. Wooly is happy about it.
Culturally, Electric is a perfect fit for our company,” Woolcott continued. “We’ve known the Electric team for a long time, and we recognize they share the same passion and love for action sports as we do here at Volcom. Our companies are very much on the same wavelength, sharing similarities in product distribution, marketing efforts and a strong commitment to quality and innovation. Everyone here is stoked to welcome Electric into the Volcom family.”
Bruce Beach, who continually denied any such thing likes the idea as well (not surprisingly).
We believe this partnership will enable us to take the Electric brand to the next level,” said Bruce Beach, co-president and chief executive officer of Electric. “We are very excited about working closely with the Volcom team to grow our existing eyewear business and further expand into new product categories. Additionally, this partnership will enable us to grow our retail relationships and to continue to strengthen our operational capabilities.”
And we’re happy because it means we know at least four more millionaires. . . and they’re good people to know.
[Link: BusinessWire]
by The Editors on January 14, 2008
The massive, unruly swell (too ugly for the Eddie) that has been pounding the North Shore of Oahu this week offered up another reason to never turn your back on Mother Ocean. A family was knocked down and washed completely under the road at Rockpiles. Luckily, Michael Borst was driving by at the right time.
“I was driving down the road I seen the wave come up and it washed the two girls and then I heard them screaming, and I pulled over here to the other side of the drain. She washed right to me and I grabbed her and the guy was right behind me and she was scared. I’m still in shock over the whole thing,” rescuer Michael Borst said.
A camera crew from KITV was there and caught it all on video. Click the link to watch the tourist takedown.
[Link: KITV.com]
by The Editors on January 14, 2008
Kelly Slater will be joining George Lopez, Huey Lewis, Carson Daly, Jimmy Fallon, and 384 other amateurs golfers in this year’s Bob Hope Chrysler Classic which begins play on Wednesday January 16, 2008 at four courses in Palm Desert, California.
Pros, teamed with a different three-player amateur team each day, will play a different course each day. The fifth round Sunday, for the low 70 pros and ties only, will be played at Classic Club.
Good luck, Kelly.
[Link: MyDesert.com]
by The Editors on January 13, 2008
Photographer Bob Barbour’s classic images of Jay Moriarity at Mavericks will be on display until January 31, 2008 at The Mill Gallery at 131 Front St., in Santa Cruz. The images are part of the Surf City, Santa Cruz exhibit.
At Maverick’s, the fabled surf break near Half Moon Bay, surf stories take on a dimension of the epic and that 16-year-old’s wipeout at Mav’s on a December day in 1994 ranks as one of the most talked about single incidents in the history of California surfing, thanks to two people: the hero, young Santa Cruzan Jay Moriarity, and the witness, veteran surf photographer Bob Barbour.
The show also features photos of Jay since the time he was a 13-year-old nose riding at Pleasure Point.
[Link: Santa Cruz Sentinel]
by The Editors on January 11, 2008
As if the story of big wave surfer Peter Davi, 47, drowning at Ghost Trees could get any sadder, the Monterey County Herald is reporting that after an autopsy it was discovered that Davi was high on meth when he drowned.
Sheriff’s Sgt. Mike Richards said toxicology results show that Davi had a methamphetamine level of 0.75 milligrams per liter in his system at the time of his death. The level for potential toxicity is between 0.2 to 0.5 milligrams per liter. . . “That is a lot,” said Richards. . . . Richards said the primary cause of death was asphyxiation from drowning, but that acute methamphetamine intoxication and blunt force head and chest trauma were “contributing factors” in his death.
Sadly, it seems Davi thought he needed a little extra boost.
[Link: Monterey Herald]
by The Editors on January 7, 2008
The ASP 2007 World Champ Mick Fannning, 26, was doing a little snowboarding in Japan during his time off and apparently fell causing what his mother Liz referred to as a “minor fracture that would not affect his preparations for this years ASP World Tour” which kicks off at Snapper Rocks on February 23.
“I love snowboarding, it’s so much fun, it’s like surfing but it does hurt more,” he recently told Japanese magazine Powderlife. “I’ve been doing one week snowboarding holidays every year since 2003 – California, Whistler, Colorado and Australia.”
Water, it appears is softer than snow.
[Link: The Age]
by The Editors on January 7, 2008
Shares of Zumiez fell 13 percent to a new year low when the retailer “slashed its fiscal 2007 outlook after it posted holiday sales below its expectations.
Shares of the online and mall-based retailer have slumped nearly 65 percent since their October 2007 highs, as concerns about warm weather hurting winter sales worried investors. . . “Although holiday sales were positive, we did not experience the across the board strength that we had planned for,” Zumiez Chief Executive Officer Rick Brooks said in a statement.
[Link: Reuters]
by The Editors on January 5, 2008
First they start a site that hopes to get kids to pay them money for the possibility of “getting sponsored” and now they say they’re launching an action sports version of Myspace and facebook. It appears that Sponsorhouse.com Scott Tilton and RJ Kraus have found a new way to talk action sports companies out of their money. It’s called Loop’d. They’ve even rallied Oakley’s Pat Mac (which isn’t all that difficult to do).
Patrick McIlvain, global sports marketing director for Oakley, said the promotion it’s running on the Loop’d Network is one way for the company to tap into the grass roots of the action-sports market.
Hey, with a name like Loop’d you know the kids are going to be down.
[Link: San Diego Union-Tribune]
