by The Editors on November 6, 2008
Matthew Polianites, the 19-year-old owner of the Boardwalk Skate Shop in Boston’s Burlington Mall has a optimistic take on the current economic downturn, according to a story in the Boston Globe.
“The recession isn’t stopping people from skateboarding,” Polianites, a sophomore at Suffolk University Sawyer Business School, said.
Polianites, who opened the shop after the skateboard mall kiosk he worked in closed, decided he didn’t want to be poor college student. He wanted to “graduate with a store franchise, not a heap of credit-card debt.”
“You try a trick, you fall, you get back up,” Polianites said. “With skateboarding, everything you do is a risk. Same as in the business world.”
[Link: Boston.com]
by The Editors on November 5, 2008
The street is not so happy with Zumiez after the company released a same-store sales drop of 13.1 percent in October. Not that it was surprising. It was just lower than expected.
That compares with a same-store sales gain 5.1 percent for the comparable period last year. . . . Analysts surveyed by Thomson Reuters expected same-store sales to fall 6.5 percent for the four weeks ended Nov. 1.
Net sales were up 1 percent, but with the economy and a “highly promotion retail atmosphere” we really can’t fault them. The stoked closed down 76 cents at $8.59.
[Link: Forbes]
by The Editors on November 5, 2008
Tony Hawk and DJ Jason Bentley go over some of Tony’s favorite songs while Tony gives the background behind why he likes them so much. We swear we’ve heard this show before, but maybe it’s just because we have the same taste in music. Sad, we know.
1.) Devo- Gut Feeling
2.) Dead Kennedys – Police Truck
3.) Frank Black – If it Takes All Night
4.) The Clash – Safe European Home
5.) Nine Inch Nails – 1,000,000
[Link: KCRW Quest DJ]
by The Editors on November 5, 2008
by The Editors on November 3, 2008
We’ve been getting unconfirmed word today regarding recent lay-offs at some of the industry’s biggest brands. Podium Distribution reportedly laid off approximately 20 people on Friday, October 31, 2008. Similar lay-offs were also rumored at Black Box, Osiris, and Sole Tech.
As one action sports worker said, “Retailers can’t sell their stuff. They can’t get credit to buy more product. Companies can’t get credit to produce. . . and the tower tumbles.”
Another worker just toured the California retail scene and said that the story is the same everywhere. “It was really bad during that first weeks of the financial panic,” he said. “I’m pretty sure no one bought anything during those two weeks. It’s going to be interesting to see which brands and retailers make it through this.”
So true. If anyone has any info to share, please leave it in the comments.
by The Editors on November 3, 2008
Plans for a new Chicago Billabong retail store on the city’s State Street have apparently been scrapped according to a story in Chicago Business.
Gourmet grocer Fox & Obel and trendy surf-wear retailer Billabong are dropping plans for stores in the former Carson Pirie Scott & Co. building on State Street, leaving the ambitious project with only one tenant as it approaches an opening next fall amid the bleakest retail climate in decades.
Probably not a bad idea. Are people even shopping any more?
[Link: Chicago Business]
by The Editors on November 3, 2008
And now, from the Australia’s Herald Sun:
Globe International has come under renewed fire from investors, including Solomon Lew, over $57 million in related party transactions. . . . Globe investor and investment banker David Williams — who called for a board spill at the company’s annual meeting last month — has voiced concern about a series of deals involving Globe and companies linked to CEO Matt Hill and his brothers, Peter and Stephen. . . .This raises further speculation about the future of Globe, which has in the past two years sold a number of its brands in a bid to streamline the business.
[Link: Australia Herald Sun]
by The Editors on November 2, 2008
The Orange County Business Journal is reporting that Quiksilver is actively looking for funding to help negotiate what it calls one of the company’s “worst downturns in clothing sales in recent memory.”
Quiksilver has hired Morgan Stanley to help it look at ways to raise money, including from existing lenders, through a stock sale or a possible private equity investment. . .The company reworked a European credit line that was due last Friday. Quiksilver is paying its lender $19 million now and deferring $71 million until March. . . Quiksilver said it expects to have about $100 million in cash and equivalents after the close of the Rossignol sale and debt payments made before the close of the company’s fiscal year that ended Friday.
Sadly, some of the recent rumors regarding the surf giant’s financial future appear to be growing legs.
[Link: Orange County Business Journal]
by The Editors on November 2, 2008
At the LG Action Sports World Championships Pierre Luc Gagnon and Paul Rodriguez rolled away with gold medals in Vert and Street.
Gagnon repeated as Skateboard Vert LG World Champion. . . his technical board tricks racked up the points to bring him $30,000 to add to his winnings this year. . . In street: For ten minutes of controlled chaos they pushed their limits and threw one trick after another, cranking the level of skill beyond expectation. In the end, ‘textbook perfection’ is what took the title; Paul Rodriguez (Tarzana, Calif.) earned the Gold with a score of 95.75.
For the entire press release follow the jump.
[click to continue…]
by The Editors on November 2, 2008
It’s not the ranch, but from the looks of this bowl, it’s probably better. Skate and Annoy has more details of a new skatepark in Del Mar, California which reportedly has some Chris Miller and Tony Alva features. Hopefully they don’t use that fence to keep people out.
[Link: Skate And Annoy]
