SurfStitch the Australian online surf retailer who was formerly owned (partially) by Billabong (and then took over Billabong’s North American online business including Swell.com) had a pretty rough go in fiscal 2016. According to a story on the Orange County Business Journal, the company (which went public in 2014) lost $116.4 million on $176.9 million in revenue for 2016.
The loss accounts for “strategic review adjustments,” including impairment, administrative, selling and distribution expenses. Its revenue total includes $157.5 million in retail revenue, $16.82 million from Surf Hardware, and $2.55 million from its media properties (Stab Magazine and Magicseaweed.com).
They were reportedly planning on “rebranding” the entire business under the Swell.com name, but things at Swell.com didn’t go much better in 2016 so they’re going to put those changes off for a bit.
Swell in Irvine, which will shrink to 14 employees after 65% staff reduction is complete in October, contributed $18.92 million to retail total. That’s down 12 % from $21.6 million the brand posted in fiscal 2015. Swell’s gross earnings were down 44% to $5.4 million.
Apparently, the kids just aren’t blowing all their money on expensive, branded, logo’d surf togs anymore. What a surprise.
Oh, and if you know anyone who wants to buy San Diego, California’s Surf Hardware International(parent company of FCS Fins), please let SurfStitch know. They bought the company in November 2015 for $16.6 million, but have now decided that it’s not such a good fit.
Hey SoCal, you like watching the big boys play in the smoothest, rampiest, most consistent contest waves in the world? Now is your only real chance to see how a certain privately owned entertainment company specializing in event and online streaming content production does it right in your own backyard, with the Hurley Pro at Trestles. The show begins September 7, 2016 with a window open until September 18, 2016.
With four events remaining on this year’s CT a thrilling three-way title race is emerging between John John Florence (HAW), Matt Wilkinson (AUS) and Gabriel Medina (BRA). Florence and Wilkinson are on the hunt for their first world title while Medina looks to reclaim his 2014 surfing crown. . . Florence will wear the coveted Jeep Leader Jersey heading into the Hurley Pro after taking back-to-back runner-up finishes as the previous two events on the CT in South Africa and Tahiti. Florence, whose best result at Lower Trestles was a second place in 2014, will be looking to improve on last year’s 25th place finish at the event and extend his lead heading into the European leg of the tour. Florence will face Davey Cathels (AUS) and either Brett Simpson (USA) or Tanner Gudauskas (USA) in Round 1.
And remember, if you only watch one round, make it Round 1. That’s the round that everyone is in. Duh! For the official word from that privately owned entertainment company specializing in event and online streaming content production, please follow the jump.
Sebastien Zanella, the dark lord of dark action videos, has produced an inspiration short movie featuring Nixon surfer William Aliotti. The dark movie is titled You Only Tell The Truth In The Dark.
With just a van, a few boards and a camera, William Aliotti and Sebastian Zanella embarked on a 3000km solo surf exploration road trip along the Chilean coastline, travelling across the dusty Atacama desert, ghost towns and fishermen villages from Santiago all the way to Arica. . . The loneliness atmosphere expressed here is a romantic, pastoral attitude which inspires us to leave culture and technology behind, and to rediscover nature through surfing, an exploration beyond social conventions.
And don’t kid yourself, Zanella knows dark. If the name isn’t familiar, he’s the one responsible for the often lauded, always inky Desillusion Magazine.
Absinthe Films is putting their entire 16 film library in the palm of your hand with their new app for iOS and Android. In addition to all the completely remastered films the app also includes /fterForever Premier tour dates, rider segments, rider bios, flipside episodes, wallpaper, and more.
“The timing is good to release the new app, the new website and the first of two /fterForever trailers” said Justin Hostynek, director of Absinthe Films, “This app also shows our commitment to staving off perceived Technophobia for the foreseeable future and modernizing Absinthe Films through progression and mobile technology.”
Yep. Guess this means it’s time to toss out that storage box fill with Absinthe VHS tapes. . . To download the app for iOS click here(the Android app is coming soon). For the official word from Absinthe and app developer Black Sun Productions, follow the jump.
Guess that means that next year the Lib Tech Skate Banana will go to 11. . . just watch the video and have a banana. Then follow the jump for a team photo and the official word from Pete and Mike. [click to continue…]
There must be a ton of money in proposing wave pools, because it seems people are always proposing them and never building them, ever. The latest example is the $25 million park being proposed by Perth, Australia based Wave Park Group in Western Australia, according to WA Today.
“Perth is blessed with a number of idyllic beaches but the surf quality at some of those beaches is often poor, with over-crowding in the line-up also becoming an increasing issue,” said Wave Park Group Executive Andrew Ross. . . “Surfing is enjoyed by millions of Australians for excitement, lifestyle and recognised health benefits and is second only to AFL in terms of participation, so it seems fitting that Tompkins Park, a hugely popular sporting hub, could now include a surfs sports facility.”
The pitch sounds intriguing, doesn’t it? It’s a “Wave Garden” design after all. Let us know when it’s built. Oh, and one more thing, if anyone anywhere has surfed a wave pool that they loved so much they’ve gone back week after week and bought a season pass (not counting Kelly’s central valley compound), please let us know. We’d love to be less bitter on this topic and good info would help.
It’s been a rough year for the beleaguered Billabong. Last year they were back on the come-up with a profit of $4.2 million (which is kind of a sad thing to be happy about for the once profitable surf giant), but this year they say the taxes got ’em, according to a story in the Gold Coast Bulletin.
Billabong said more than two-thirds of its decline related to higher tax costs, with a tax expense of $7.8 million this year compared to a $12.2 million tax credit a year earlier. . . CEO Neil Fiske said FY16 was an “extraordinarily tough year” which had seen Billabong hit a significant “speed bump” in its multi-year turnaround strategy. . . But, he said, most of the pain had been outside Billabong’s control and he believes FY16 will be the year the company finally turns a corner.
It’s always next year isn’t it? We all hope for rainbows and unicorns in the coming fiscal year, don’t we? We certainly do and if we can share some of them with Billabong, we’ll do it.
Our favorite skateboarding photographer (Grant Brittain) prints one of our favorite skateboarding photos (you know the one) of one of our favorite skateboard company owners (Tod Swank). Doesn’t get much better than that, really, but here are the details from SLVDR.
The SLVDR Craftsman Guild series visits the legendary skateboarding photographer Grant Brittain. His career goes back over three decades and began out of a passion for skateboarding and documenting his friends as subjects. In our visit he chooses the negative of perhaps his most iconic photo and develops and prints it in his private darkroom. It’s a lost art and represents the true craft of photography and a real photographic icon.
Kelly Slater remains an inspiration to all middle-aged men. He proved that he’s old, but he can still whoop the best kids in the world at Teahupo’o. In this case the kid was 2 John Florence.
“When I look back that will for sure be one of the best wins I have ever had,” said Slater. “To have John John [Florence] in the Final is a dream for me. It is no secret that I am towards the tail-end of my career. John John and Gabriel [Medina] are on their way up and those guys are just monsters. John John is all of our favorite surfers, so I want to see how many heats I can get with him before I am done and to have him out here where he and Gabriel are the favorites. This is a really special time for me. I am stoked.”
The surf world is still undecided on Slater’s early round”perfect heat,” and while we tend to line up with those who believed his second wave was a 9.49 or so, there is still no doubt that Slater remains the King of Teahupo’o. For the official word from Kelly’s business partners at the surf content generation company, please follow the jump.
SurfStitch the Australian online surf retailer who was formerly owned (partially) by Billabong (and then took over Billabong’s North American online business including Swell.com) had a pretty rough go in fiscal 2016. According to a story on the Orange County Business Journal, the company (which went public in 2014) lost $116.4 million on $176.9 million in revenue for 2016.
It’s been a rough year for the beleaguered Billabong. Last year they were back on the come-up with a profit of $4.2 million (which is kind of a sad thing to be happy about for the once profitable surf giant), but this year they say the taxes got ’em, according to a story in the 
