Billabong profits are down 7.1 percent in the “first half” thanks to the US economy, according to a story on News.com.au. Not knowing all the much about currency markets it’s always funny to hear companies saying things like this:
“While the company has experienced margin erosion in its biggest division, the Americas, the effect is being partially offset by strong appreciation in the US dollar against the Australian dollar,” Billabong chief executive Derek O’Neill.
So, if we’re hearing this properly, sales in the US are down, but luckily for Billabong the Australian dollar is going all to hell. Good times in international business, huh?
The economy didn’t seem to pull Volcom down too much last year according to their 2008 Q4 and full year results released this afternoon. Total consolidated revenues for 2008 were up 25 percent, and probably the best news: “the company generated $24.7 Million in operating cash flow,” has $79.6 in the bank with absolutely no long-term debt. Wooly explains it:
“While the ongoing global macroeconomic turmoil affected our results for the 2008 fourth quarter and full year, the underlying strength of Volcom is well intact,” said Richard Woolcott, Volcom’s chairman and chief executive officer. “In the face of this economic uncertainty, we are working to maintain a healthy balance between being aggressive when we see opportunities and pulling back where we can, including reducing our cost structure. We have a solid cash position and a strong global brand with a devout following. Further, we believe that our product line-up for 2009 is one of our best ever. We plan to approach the year with discipline, commitment and focus, and we remain confident in our ability to ride this period out and prevail as an even stronger company.”
According to the OC Business Journal, however, moving into 2009 things aren’t going so well. Volcom “warned of a big shortfall in profits and sales for the current quarter” . . . projecting “a profit of $3.1 million to $3.9 million for the current quarter, well below the $6.3 million analysts had been forecasting.” That may explain why they cut eight percent of their employees and are giving many others reduced pay.
We would have listened to today’s conference call, but apparently the Volcom audio server doesn’t like Macs, or maybe it’s just us.
Looks like Sole Tech can’t keep a good thing state-side: Etnies moves the GVR to Eindhoven’s, The Netherlands on March 21, 2009 at the in indoor skatepark, Area 51.
Riders from more than 10 countries have already confirmed (UK, Spain, Belgium, Czech Republic, Slovakia, Holland, Germany, Finland, France, Portugal and Switzerland) including Phil Zwijssen (winner European Skateboard Championships 2008), Axel Cruysberghs (winner Simple Session Estonia 2009), Dutch champion 2008 Nelson Mosikili, Rob Maatman (winner AmsterDamn Am) Alex Mizurov (winner Game of SKATE Pro finale 2006).
Sounds like a great reason to visit The Netherlands.
Apparently Shaun White’s little 90 day test run of clothing in Target stores last summer went pretty well because the uber box retailer is announcing that it has signed the Red Hot Flying Tomato to design a year-a-round collection for the company.
Shaun and Target decided to collaborate again to produce a fashionable line of apparel inspired by Shaun’s life, along with his interest in music and travel. These influences will be reflected in the hand-drawn art and humor infused throughout the line and is epitomized by the return of the skate monster that debuted in the limited edition launch. The collection will be filled with reasonably priced pieces including: denim, hooded sweatshirts, jackets, graphic tees, wovens and shorts.
The USC crew at Quiksilver got a little deeper recently when James G. Ellis was added to the Board of Directors on February 13, 2009.
Ellis is the dean of the Marshall School of Business at USC. He began his career with Carter Hawley Hale stores and rose to vice president of Merchandising for the Broadway department store chain. . . . Later, he became president and CEO of American Porsche Design and has been involved in several other entrepreneurial ventures. He held leadership roles in several apparel manufacturers and action-sports companies.
Sounds like Mr. Ellis has all the skills necessary to help pilot Quiksilver into the storm.
The more we follow the financial press and see the way they operates the funnier stories like this become. Forbes has released a list of the highest paid action sports athletes and they base their numbers on completely on “interviews with industry experts.” In other words, your guess is as good as Forbes.
The experts are saying that Tony Hawk made $12 million last year and that put him in the number one position. Shaun White was number two at $9 million, Ryan Sheckler was number three at $5 million.
As Skateboardworks.com says: “Suspiciously missing from the list is Rob Dyrdek and BAM, who both make at least $1 mill per year.” Makes us wonder what “experts” they actually talked to.
We know that if people are going to write about skate fashion, they’re going to have to come up with words to describe what it is, but “skurban” has got to be the worst word ever.
Influenced by skate and street-wear fashions and the lifestyle that had its skateboarding origins in Los Angeles and New York, the Skurban style includes heavily branded and graphic tees; hoodies as a layering piece; skinny, tapered or baggy jeans; flat-billed, “new era” baseball caps and skate shoes.
Although, Skurban Outfitters does have a certain ring to it. . .
Club Mumble’s Bob Kronbauer and Porous Walker are engaged in death match game of s.k.a.t.e. And while the skating may not be anything to shout about (Bob’s 360 flip was not bad), the back and forth videos are pretty funny. Here is the latest:
Here we go again. The 2nd Maloof Money Cup is scheduled for three days in July at California’s Orange County Fairgrounds.
“The Maloof Family is honored to be presenting the World Championship of Skateboarding again this year. We are particularly excited about all of our skaters and sponsors that helped make last year such a huge success and we look forward to seeing them all back again at the OC Fair this summer,” said Joe Maloof.
It’s a bit too much of a show for us, but most people who went last years said they saw some great skateboarding, some even saw Corey Duffel get sucker punched).
After all our blather about how much we hate print magazines that are reproduced online as “digital editions” a friend pointed out that compelling content can be done with a similar concept and that Slap Magazine has been doing it for a while now. Check out the Tyler Bledsoe interview for a little reminder.
The full-size animated sequences, .MP3 audio clips, and smooth page changing navigation system make all the difference in the world. It’s a solution that saves most of what is great about the contextual elements of traditional magazine layout while giving it digital life in a way that retains non-linear accessibility. And, aside from the Flash bits it even works okay on an iPhone.
Billabong profits are down 7.1 percent in the “first half” thanks to the US economy, according to a story on News.com.au. Not knowing all the much about currency markets it’s always funny to hear companies saying things like this:
