Boardriding Related Business Round Up
Posted by Robin | Filed under Business
1. Billabong International Limited has today reached agreement to acquire Australia’s Tigerlily swimwear and apparel business from founder Jodhi Meares. Billabong International Limited chief executive officer Derek O’Neill said Tigerlily represents the Billabong Group’s first acquisition focusing exclusively on the girls market.
2. In seven days 2007 Nobel Peace Prize winner Al Gore is going to address the UN Climate Change Conference in Bali, Indonesia. Surfersvillage and Earthwave have signed his petition showing their support for the important call for a visionary treaty to address the climate crisis. We hope you will too.
3. Volcom Entertainment is proud to announce the birth of the Volcom Ent. Vinyl Club (VEVC), a yearly - 6 release - subscription based split 7inch vinyl series, with the following artists scheduled to contribute songs in 2008; Birds of Avalon, Dark Meat, Earthless, Monotonix, Red Fang, RTX, Totimoshi, Turbonegro, Tweak Bird, Valient Thorr, Witch, and Year Long Disaster.
4. Zumiez Inc. recorded a 5.6% increase in same store sales for fiscal November. The comps improvement comes on top of a 12.1% jump in the year-ago month. Total net sales for the four-week period increased 28.5% to $33.3 million, compared to $25.9 million for the same period last year.
5. Pacific Sunwear of California, Inc. sales for the four weeks of fiscal November were $120.9 million, an increase of 3.6% over total sales of $116.6 million during the same period in 2006.
Quiksilver New American Marketing Director
Posted by Robin | Filed under Business, boardriding
From Adage:
Quiksilver continue to grow its customer base beyond its surf, snow and skateboarder roots. The company has hired Greg Perlot, strategic director and co-founder and partner of its Los Angeles shop 72 and Sunny, as its top American marketing director.Greg Perlot, 44, will become senior VP-marketing of Quiksilver Brands Americas, reporting to its president, Steve Tully. Mr. Perlot has been working as a “creative consultant” to the company for three years, the company said in announcing the hire.
Volcom Share is Reasonable
Posted by Robin | Filed under Business, company
From Motley Fool’s Alyce Lomax:
Volcom’s third-quarter profits and revenues were undeniably good. Net income increased by 43% to $14.5 million or $0.59 per share, and revenues jumped 49% to $91 million. The company’s stepped-up European operations contributed $26 million to the revenue growth, although continued investments in European infrastructure contributed to a 49% increase in SG&A expenses.Personally, I’m impressed by Volcom and its clever, authentic branding to the board sports crowd. I’m also aware it’s one of those high-growth stocks that wipes out when it disappoints high expectations. Given the tough macro environment, conservative investors might wait to see if the fourth quarter presents an opportunity to buy shares cheaper, but given its high-growth history, I don’t think it’s unreasonable to go shopping for Volcom shares on this dip right now.
Summaries at Yahoo Finance.
