by The Editors on October 14, 2008
Rome and Consolidated roll out the limited edition Libertine Drunk with the following rant:
If you think the same logo that’s on that nut-hugger swim suit, golf ball, tennis skirt, jump rope, baseball bat and rollerblade might as well be on your next pair of snowboard boots, what will snowboarding look like in five or ten years? Will it be influenced in a way that’s true to our history? . . .The Libertine Drunk, a collab between the Rome SDS and Consolidated Skateboards, is a limited edition get-together of two brands who think sporting goods companies aren’t snowboard or skate companies.
We’re no fans of Nike either, but seriously? Can this be any more like slurping up someone else’s vomit?
[Link: Rome Snowboards via Shayboarder]
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
While we know Ken Block as the founder of DC Shoes, more and more people are being fans because of his rally driving (they even ask for autographs). Outside Magazine’s Mark Anders goes for a ride in Ken’s car and then writes about it.
I may screw around a little to show you how good the braking is,” says my driver, Ken Block, over a helmet-to-helmet communication system as we roar down a narrow dirt road. It’s a warm June afternoon in northern Pennsylvania, the day before the state’s Susquehannock Trail Performance Rally. “Other than that,” adds Block, “I’m just going to go flat out.”
Yep, he’s a 100 percent kind of guy, isn’t he?
[Link: Outside Magazine]
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 10, 2008
Tomorrow night is the kick off for Quiksilver’s SiteLA We Ride The Night exhibit which artistically celebrates bicycling in LA.
Ride on over to Quiksilver siteLA Saturday, October 11th, 6-9pm for the “We Ride By Night” opening reception. Special musical performances by Super Karma and Telemetique with dj sets by Laundromat United. Also, burritos will be provided with donation to The Burrito Project.
This party is being thrown by a group of women that Fast Company called Quiksilver’s Spice Girls in their September profile on companyss artmercial project for women.
Sadly, this party is during the Vans Downtown Showdown at Paramount Studio so we doubt we’ll make it over.
[Link: Streetsblog LA]
by The Editors on October 10, 2008
With the markets crashing, what better time for companies to invest in themselves. This appears to be the rationale of the Nike board of directors as they approved a four year plan to buy back $5 billion in Nike common stock.
We are pleased to extend Nike’s track record of returning value to shareholders through sustained share repurchases,” said Mark Parker, NIKE, Inc. President and CEO. “Over the past 10 years, NIKE, Inc. has returned $5.5 billion to shareholders through the repurchase of more than 157 million shares. This new share repurchase program demonstrates our continued confidence in Nike’s long-term growth prospects and financial strength.
[Link: Business Wire]
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 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]
