VF Corp announced their third quarter financials today with a press release and an analysts’ call. Revenues were up to record levels for the quarter ($2.2 billion), gross margins reached a record 46.5%, and earnings per share increased 14% to a record $2.22.
The VF Outdoor & Action sports businesses had record revenues, income, and margins thanks to “exceptional growth” from Vans, North Face, andLucy. But in all that press release boosterism was not one mention of Reef. None. In fact, the only place Reef was mentioned in the release was in the list of companies that VF owns. Ouch.
Celtek has created a special line of gloves in collaboration with top shops called the SLSH Collection (Shop Local Shop Here). The gloves currently come in eight flavors: Milosport (Salt Lake City, UT), The Youth Shelter Supply (Waite Park, MN), Easy Rider (Alberta, Canada), Shred Shop (Chicago, IL), Tactics (Eugene, OR), World Boards (Bozeman, MT), EVO (Seattle, WA), and Damage (Duluth,MN). And all of them look pretty good.
Celtek founders Erik and Bjorn Leines describe the motivation behind this collection, “The feeling of going in to a real snowboard shop for the first time is a mixture of wonder, intimidation, and stoke. It’s usually the moment when you become snowboarder and stop being “someone who snowboards”. We wanted to let these shops have total control on the artwork on the gloves to showcase their personality, and give the ability to fly the flag of people that bust ass every day to make sure that snowboarding stays awesome.”
Smart way to give shops hand while letting shreds fly the fingers with local pride. Follow the jump for the details. [click to continue…]
Sean Aruda, 44, the CEO of the action sports website Go211.com, died Tuesday, October 19, 2010, according to a story on the Patriot Ledger.
Sean M. Aruda, a basketball coach at Notre Dame Academy in Hingham, died Tuesday of a sudden illness. . . He is survived by his wife, Patricia, and four daughters, including his youngest child who is a sophomore at Notre Dame Academy.
On September 9, 2010, Aruda, 44, sold Go211.com to Metacafe where he became chief revenue officer. According to sources Aruda had a meeting scheduled with former Go211.com investors on Tuesday and he never arrived.
According to his obituary, published October 21, 2010 in the Patriot Ledger, Aruda died “unexpectedly in his home” in Hanover, Massachusetts. Our thoughts are with Aruda’s family and friends.
Seth Coombes, a Exeter University student who towed behind his friend’s car at 27 MPH without dying or getting injured, has apologized for his crimes against humanity, according to a story in the Cambridge News.
“I apologise to any people I may have endangered with my actions and I would like to say that in the circumstances of my life I act with responsibility and care for others.”
Driver Gordon Pottinger was equally apologetic.
“I would like to say how deeply I regret my actions on the day in question. I was foolish, immature, and I’m ashamed. . . “My behaviour was unprecedented – in my driving career of three years I have not been convicted of any driving offence.”
He’s ashamed. And that’s how they handle towing criminals at Cambridge.
Newport Beach, California’s world famous Frog House Surf Shop will stay in its current location even regardless of city zoning issues thanks to the efforts of the local surf community, according to a story in the Daily Pilot.
At the Oct. 12 City Council meeting, Councilman Steve Rosansky said the city is working with the Frog House to rezone its property. Dozens of supporters had called Rosansky and other city officials on the Frog House’s behalf, and more than 10,000 supporters joined the shop’s Facebook page. . . Rosansky said that “T.K.” Brimer, the owner of the shop and the property, needs to apply for a zoning change and an amendment to the general plan. . . “Once he does that, and assuming it’s approved, he will be able to continue operating in that location,” Rosansky said at the meeting. In the meantime, Brimer and other property owners have filed requests with the city to delay enforcement of the zoning rules.
T.K., we know city paperwork is a bitch, but the community has done their part, now it’s time to do yours.
In late September 2010, Jamie Sterling, Mikala Jones, Robert “Wingnut” Weaver, Mary Osborne, and boat driver Todd Roberts (of Santa Monica’s ZJ Boarding House) traveled to China to surf the Qiantang River Tidal Bore in support the booming surf market in China. Osborne because the first woman to surf the bore and Wingnut even did a headstand.
When world famous hotelier Ian Schrager wanted art for his latest creation in Waikiki (the surf-inspired Waikiki Edition) he looked directly to Herbie Fletcher, according to a story on Luxist.com. Herbie created a wall-sized installation for the hotel’s reception desk.
It is made from over 100 collected, broken surfboards from the sport’s best pipeline surfers: Kelly Slater, Andy Irons, Mick Fanning, Joel Parkinson, Nathan Fletcher, Bruce Irons, and Christian Fletcher. It hangs above the custom-made reception desk, which has been made from sculpted plywood transformed into a natural, organic shape and finished using the techniques and traditions of local Hawaiian surfboard making.
Nothing suggests the power of Hawaiian surf more than wall full of broken boards.
Two children ages 10 and 11 were arrested on Saturday, October 16, 2010 after being accused of shoplifting from a Zumez store in the Natick Collection mall in Natick, Massachusetts, according to a story on MetroWest. But that wasn’t all.
After mall security held the tiny bandits for release to their parents a 17-year-old acquaintance of the children was arrested for “disorderly conduct and resisting arrest” when he tried to take custody of the children. And the mother of one of the children freaked out in the parking garage and was arrested for “driving to endanger, disorderly conduct and resisting arrest.” A four were taken to the local police station and later released.
From the looks of recent VeeCo stock sales by Volcom CEO Richard Woolcott he’s getting a little spending money out before those capital gains taxes rocket back up in January 2011.
In the month of October Wooly’s stock sales were up to 85,000 shares from the his usual 20,000 shares, according to a report on Guru Focus. Woolcott sold 60,000 on October 7, 2010 for approximately $20 a share and the other 25,000 on October 10, 2010 at $21.49. That brings the October cash out to a total of $1,737,250.
But Wooly was not alone. Volcom’s EVP and CFO Doug Collier got the best deal of all. He sold 30,000 shares on October 13, 2010 at $22.
VF Corp announced their third quarter financials today with a press release and an analysts’ call. Revenues were up to record levels for the quarter ($2.2 billion), gross margins reached a record 46.5%, and earnings per share increased 14% to a record $2.22. 
