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 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
Just got the official email. Mammoth Mountain opens tomorrow, November 3, 2008.
A powerful storm hit the Eastern Sierra over the weekend dropping up to 18 inches of snow on Mammoth Mountain. By late Sunday, resort operators made the decision to open the slopes for skiing and riding on Monday, November 3, a full 10 days prior to schedule.
Kind of late notice but it looks like we were right. Tickets are $52 and the Broadway express will begin running at 9 AM.
[Link: Mammoth Mountain]
by The Editors on November 2, 2008
It’s a party. It’s an art show. And the money is going to a good cause. Plus, Bob looks like he could still use a Tijuana Panthers crew cut, baby.
[Link: Hurley]
by The Editors on November 2, 2008
The Great Conadian Heli-Skiing company has what we think is the perfect season pass for time of economic uncertainty Their platinum pass costs $100,000 and is good for all you can ride heli access plus a single room in the lodge whenever you want it. The pass is transferable, but only one person can use it at a time.
We’re thinking if we can get nine friends go in on it together on this. . .
[Link: Great Canadian Heli-Skiing via Dallas News]
by The Editors on October 31, 2008
by The Editors on October 31, 2008
How’s that for a nice Stump Alley costume on Halloween? SoCal needs to get their gear ready, because with the storms stacking up off the Pacific it looks like Mammoth Mountain’s opening day 08/09 could be only days away: literally. Stay tuned.
by The Editors on October 31, 2008
In its original sales announcement in August 2008, Quiksilver was reportedly unloading Rossignol to Chartreuse & Mont Blanc for EU75 million in cash and EUR25 million sellers note (or a total of EUR100 million). But that was in the days before the crash. Now the deal, which is supposed to close “in early November,” looks quite different.
. . . the parties agreed to recast the terms of the sale due to the recent challenges in the global credit markets. The revised transaction reduces the cash payment to Quiksilver upon closing from 75 million to 30 million and reduces the seller’s note from 25 million to 10 million.
So, the price former Rossignol CEO Bruno Cercley is now paying for the company is only EUR40 million. That’s a 60 percent discount after only two months. How’s that for a company for which Quiksilver originally paid $320 million?
[Link: MarketWatch]
by The Editors on October 31, 2008
Citing weak sales of surf and snowboard gear in the UK, O’Neill’s exclusive UK distributor Blacks Leisure has reportedly begun talks to pull out of the deal with the surf company.
The Northampton, England-based company plans to end the O’Neill contract in January, Chief Executive Officer Neil Gillis said today in a telephone interview.
Wonder if that drop in sales had anything to do with the issues surrounding the company’s firing of Darren Spurling back in May?
[Link: Bloomberg]
by The Editors on October 31, 2008
Active Ride Shop has a pretty good deal going here. Much to the chagrin of other SoCal retailers, they’re having a huge warehouse sale tomorrow November 1, 2008 at 12087 Landon Drive in Mira Loma, California.
Interestingly, customers must pay $10 to get in to shop. The price includes a “Free Mtn High Lift Ticket,” but that’s only “while supplies last.”
Sounds a little like the CostCo model. Maybe Shane should start selling memberships. . .
[Link: Active News]
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.
