by The Editors on December 16, 2011
Praxis Footwear, the Ashland, Oregon based skateboarding footwear startup has partnered with S & J Sales out of Toronto to distribute and build their brand in Canada.
“S&J is the perfect fit to launch the Praxis brand into Canada,” says Praxis co-founder Travis Matsdorf. “The Greenidge family has deep roots within the marketplace, a firm understanding of the space and a sound infrastructure. We will ensure they are supported in executing our unified vision.”
For the official word, follow the jump. [click to continue…]
by The Editors on December 16, 2011
As fans of competitive surfing we’re finding it hard to care about Quiksilver at all lately what with Kelly Slater’s rumored towel throwing on number 12 and Dane Reynolds falling off the tour to become Quik’s younger, better looking, more talented, less weedy Dave Rastovich. But by being a public company Quiksilver is forced to report their earnings so we’re somewhat obliged to at least copy and paste their quarterly press releases.
On the surface Quik “beat Wall Street expectations” according to Reuters. Revenues reportedly “grew 10% to $545.2 million as compared to $495.1 million in the fourth quarter of fiscal 2010 and grew 6% in constant currency.” This great news caused the stock to go up 12 percent this morning. Even with this boost, however, the stock is still down 31% on the year, and over 78% in the last five years). Luckily, the past doesn’t matter on Wall Street.
Then there are things they don’t count like “$52.1 million of special charges.” When you look at the year including “special charges” Quik ends up with a “loss from continuing operations [of] $21.3 million, or $0.13 per share, compared to $11.5 million, or $0.09 per share, for the full year of fiscal 2010.” So, while more informed heads will explain exactly why “special charges” don’t count, we’ll put it simply: Quiksilver lost nearly twice as much money in 2011 as they did in 2010.
The other thing we found interesting is that Quik is cliff dropping back into outerwear in the Americas. In the conference call (which you can read here) CEO Bob McKnight was particularly excited about re-re-relaunching the Quiksilver Mountain division at January’s Outdoor Retailer Show:
We see a large opportunity to expand our addressable market in the middle part of the United States and Canada by adding cold weather outerwear to our product range, much like we’ve successfully done in Europe. The first step in this strategy is the launch of the Quiksilver mountain division at Outdoor Retailer Show in Salt Lake City in January 2012.
A cynic would ask why McKnight believes the launch will work this time, where it has failed in the past. In these situations and with Quik’s business in general, it’s a good thing is that investors only care about two quarters: last and next. And because of that many are now rating Quiksilver a buy, which means it’s probably a buy again. Crazy. But before you log into trade, maybe you should read Jeff Harbaugh’s Market Watch.
For the official word form Quik, please follow the jump. [click to continue…]
by The Editors on December 12, 2011
Attorney to the action world Greg Weisman is launching a new West Coast office of the law firm Ritholz Levy Sands Chidekel & Fields LLP, according to a story on Apparel News.
“As sad as it was to see Silver & Freedman decide to close its doors, I could not be happier about this opportunity,” he said. “I have been working with, both as co-counsel and sometimes opposing counsel, the guys in New York, and when this opportunity arose, I couldn’t pass it up. They represent some of the most significant clients in the music, film, media, fashion and technology industries. The sky is the limit on how we can work together.”
Glad to see that Gregory Weisman, Esq. is still deep in the game. And with a five name firm no less.
[Link: Apparel News]
by The Editors on December 12, 2011
Action sporting fan Lil Wayne is reportedly expanding his empire with a new clothing line called Trukfit.
The highly anticipated line of uniquely designed apparel was inspired by Lil Wayne’s passion for skateboarding and quality street wear. Pulling influence from Lil Wayne’s distinctive style and voice, Trukfit is made from quality fabrics and features bold graphics at a moderate price point.
Trukfit will debut at the Agenda Show January 5-7, 2012 in Long Beach, California.
[Link: Agenda Show]
by The Editors on December 9, 2011
Milosport worked with Jared Strain and photographer Andrew Miller to create a limited edition Milosport Crowbar goggle.
A goggle inspired by Big and Little Cottonwood Canyons in Utah. Two canyons that receive an absurd amount of the greatest snow on earth, and have molded and shaped the snowboard culture of SLC and beyond. . . Check it out at all Milosport locations TODAY!!
Looks like this things are going to be popular in SLC for sure.
[Link: Milosport]
by The Editors on December 9, 2011
New Era, the king of collab hats, has announced that they’re joining other corporate retailers on LA famous Melrose Avenue. The store is on a block that hasn’t had the best track record. Just east of DC Shoe’s recently closed LA “flagship store,” New Era will be located in the space where Bathing Ape failed in its LA retail mission.
Located in West Hollywood shopping district at 8001 Melrose Avenue, New Era will bring its renowned headwear, apparel and accessories to the diverse culture of Los Angeles. Currently U.S. locations include New York, Chicago and Atlanta – this is the brand’s first west coast retail space.
Guess good luck wishes are in order. Follow the jump for the official word. [click to continue…]
by The Editors on December 8, 2011
686 is looking for a few good designers for this year’s Reclaim Project.
Have you always dreamed about being a designer? Do you live for snowboarding fashion? If you answered yes to any of these questions, then we want YOU to enter the second annual RECLAIM PROJECT, being held this year in the US and Europe at two separate and well-known tradeshows.
The three winning designers will win a trip to the SIA Show to compete on the show floor by creating a jacket out of reclaimed materials from the 686 factory. Click here for all the details or follow the jump for more. [click to continue…]
by The Editors on December 7, 2011
Poor Pacific Sunwear. It appears they didn’t find anyone to help them pay the rent and are now going to be forced to close up to 200 stores in the coming 14 months, according to a story in the Wall Street Journal.
In a deal announced with PacSun’s earnings Wednesday, Golden Gate Capital will receive the option to buy up to 19.9% of PacSun’s shares at a price of $1.75 in exchange for a five-year $60 million secured-term loan expected to help PacSun buy out leases and shutter struggling stores. Golden Gate will also receive two seats on PacSun’s board.
Sadly, this is the best news the street has heard from the company all year and it sent the company stock price rocketing up 37 percent in after hours trading to a whopping $1.85 a share, according to the story. Just think if they closed 400 stores.
[Link: Wall Street Journal]
by The Editors on December 7, 2011
DC Shoes announced today that they have brokered a deal with Mammoth Mountain that will allow the Huntington Beach, California footwear company to put logos all over the mountain’s Unbound terrain parks.
“The choice to work with DC is a no-brainer for Mammoth Unbound. We both share a commitment to the core athlete without sacrificing access to snow sports for new entrants. We couldn’t be more excited about what this partnership will bring to our terrain parks in both features and events,” said Mammoth Mountain Public Relations Specialist, Eric Meyers.
Mammoth’s snowboard parks are valuable real estate and apparently, DC is ready to pay up as well as outfit the park staff with shoes and snowboard boots. Follow the jump for the official word. [click to continue…]
by The Editors on December 7, 2011
Spy Optic president Michael Marckx continues on his march to reposition the company in a more forward facing directly. Yesterday afternoon he announced the hiring of from Patagonia Surf Shop instigator Devon Howard as marketing director for the company.
“Devon has deep California lifestyle roots, operational know-how, marketing savvy and meaningful relationships in our industry, which he has nurtured over his career,” says Marckx. “He is also really well liked and connected on so many levels, and not just in the surf world, but across the subcultures that make up our west coast lifestyle. I’ve seen Devon do great work on every level, smartly, with other good people. His unique blend of talents will unquestionably enhance our brand in myriad ways and help give shape to the new version of SPY he will help create with us.
For a little outside view on how this new version of Spy is being funded check out Jeff Harbaugh’s recent Market Watch column on Orange 21’s quarterly results. And to get more on Mr. Howard, follow the jump for the official word from Spy. [click to continue…]
Praxis Footwear, the Ashland, Oregon based skateboarding footwear startup has partnered with S & J Sales out of Toronto to distribute and build their brand in Canada.
