by The Editors on June 8, 2012
How nice would it be to run a business where losing $5.1 million in a quarter is good news? For Quiksilver a $5.1 million loss is much better than last year’s $81.7 million Q2 loss, according to a story in Businessweek.
The surf-inspired clothing and gear company posted a loss of $5.1 million, or 3 cents per share, for the quarter that ended April 30. That is down from $81.7 million, or 51 cents per share, in the same quarter last year, when the company incurred a $74.1 million non-cash goodwill impairment charge on its business in Australia and Japan.
Quiksilver’s stock was up 25 cents to $2.69. For a complete transcript of the most recent conference call, click here.
[Link: Businessweek and Seeking Alpha]
by The Editors on June 8, 2012
The Florence Brothers (2 John, Nathan, and Ivan) and Nyjah Huston have joined the Stance socks program.
“We’re humbled and proud that these guys have decided to be a part of our family. John John and Nyjah seemingly mirror each other in their young competition dominance and credibility as well rounded individuals that truly love what they do.” stated VP of Marketing, Ryan Kingman.
Foot covers are good. Follow the jump for the official word. [click to continue…]
by The Editors on June 8, 2012
After waiting out lightning and high winds the Volcom Fiji Pro finally got to finish off the last two heats of Round 2 with Bede Durbidge edging Adam Melling and Kai Otton rolling past Raoni Monteiro in 10 – 12 foot Cloudbreak surf.
“Those were the biggest most perfect waves I’ve ever surfed,” Durbidge said. “It was pretty nerve-wracking being first up. We were on and then off and then on again. You have to be prepared to go. I think everyone on tour is more than capable of handling Cloudbreak as big as it gets, we just have to pick our window with the wind. Mello (Adam Melling) was charging out there too so tough luck to him but I’m pumped to get some bombs and get through to Round 3.”
Round 3 could begin today with Taj Burrow and Durbidge kicking things off. Follow the jump for the official word. [click to continue…]
by The Editors on June 6, 2012
by The Editors on June 6, 2012
Skateboarder Serge Murphy should have had someone looking out for him at that intersection, but Tosh 2.0 gets to the bottom of it anyway.
[Link: NY Daily News]
by The Editors on June 6, 2012
The CEO position at Nike’s surf brand Hurley has been in seemingly constant rotation since the the footwear giant bought the Costa Mesa, California based company in February of 2002.
So news on Monday, June 4, 2012 that company founder Bob Hurley (pictured right with his grandson Ashton at the 2012 Nike Lowers Pro) was moving back into the “interim CEO” roll was really not all that surprising seeing that Hurley CEO Michael Egeck announced that he was moving to lead middle-aged wannabe outdoorsman clothier Eddie Bauer.
For those keeping track, Hurley has now had four CEOs in the past 16 months. Here’s how it has all gone down: Bob Hurley was CEO until October 2007 when he was replaced by Nike insider Roger Wyett. Wyett then handed the position off to former Dockers President Jim Calhoun in April of 2011 only to move the man over to Converse a month later. Wyett served as interim CEO until September 2011 when former VF Corp. veteran Michael Egeck was hired for the CEO position. Egeck lasted approximately eight months before exiting. Now, Hurley is back to where it started with CEOs.
Three things come to mind. One, from our perspective there is no one better equipped to guide the direction of Hurley than Bob. Two, it must be hell trying to be CEO of the Hurley brand in Bob’s shadow, especially for the kind of business jocks who love being the boss. And finally three, how long will Nike continue to juggle CEO’s before they just drop the whole thing? Guess we’ll all know soon enough.
[Link: Portland Business Journal and BusinessWeek]
by The Editors on June 5, 2012
Pacific Sunwear CEO Gary Schoenfeld isn’t backing down on his company’s stock. In fact, beginning May 29, 2012 he bought 150,000 more shares “on behalf of his children,” according to a story in the Orange County Business Journal.
The shares—bought starting May 29—were priced between $1.45 and $1.55 each.
All together Schoenfeld and other company directors bought up 300,000 shares and pushed the stock up 10 percent in trading on Monday, June 4, 2012. It’s up to $1.71 now. Just think if they bought a couple million shares? Kids might start actually start shopping at PacSun again. Or maybe that isn’t the way to stock price is tied in. . .
[Link: Orange County Business Journal]
by The Editors on June 5, 2012
Ryan Stutt and the die-hard print magazine enthusiasts behind the Canadian skate and snow magazines King Shit and King Snow are diving into the travel magazine world with a new titled called Later. Here’s their elevator pitch:
LATER. speaks to an audience of people who travel regularly to do what they love—be it surfing, skating, snowboarding or just getting weird in a foreign land. It features content from all over the globe and from a hugely diverse group of contributors —from pro surfers, skateboarders and snowboarders, to random people who just had a funny story from the road. . . “When all is said and done, you’ll never remember that week you worked overtime and went to sleep early, but passing out on a Mexican beach, getting robbed and scoring the best waves of your life are memories that will last forever,” said Editor Andrew Sayer.
From the looks of King Shit and King Snow, Later will be a lush, quality papered, fifth-color-and-varnish magazine that will go great on the coffee table, and with Keith Malloy man-handling a squid on the first cover Later promises to be “authentically hip.” Follow the jump for the official word. [click to continue…]
by The Editors on June 5, 2012
This is part one of a four-part Dragon’s new webisode series called Frame Of Mind: The B-Sides of Life. In this one show pony Mick Fanning pines on about how great it is to go free surfing away from the ASP tour circus. Fancy that. . . a guy who just wants a little time off from his job surfing the best waves on the planet. [click to continue…]
by The Editors on June 1, 2012
Wanna little audio boost for your iPhone or other audio player? The Nixon TPS speaker system might be just what you’re looking for.
Custom designed to take the party anywhere. The Nixon TPS portable stereo speaker includes a 3.5mm audio input and rechargeable battery, all housed within a premium aluminum chassis.
And that’s not all. Buy two of them, plug them in to each other and experience “enhanced stereo separation and volume.” Not a bad way to lose the headphones.
[Link: Nixon]
How nice would it be to run a business where losing $5.1 million in a quarter is good news? For Quiksilver a $5.1 million loss is much better than last year’s $81.7 million Q2 loss, according to a story in Businessweek.
