Quik had a 3% sales increase in the quarter, growing to $492 million from $478 million in the same quarter last year but, as I define and discuss below, their adjusted EBITDA fell by 39%. The gross margin percentage fell from 54.8% to 49.2%. That rather significant decline, they say in the 10Q, “…was primarily the […]
I just listened to a Billabong conference call where new CEO Launa Inman announced they were raising more capital, downgrading earnings expectations, and undertaking a top to bottom review of all Billabong operations with the goals of reducing expenses, identifying efficiencies and improving the competitive positioning of Billabong and its brands. They want to raise […]
As you know, Tilly’s went public recently. They’ve just released their first quarterly 10Q report and held their first conference call as a public company. The report is for the quarter ended April 28. Their public offering was May 4, so the balance sheet doesn’t reflect the results of that offering yet, and I don’t have access to […]
Well, this one caught me by surprise, though I guess it was supposed to. No, not that Zumiez bought Blue Tomato, though that caught me by surprise too. What surprised me is that Zumiez has a “…strategic plan to build the leading global action sports retail business.” And, according to the press release, this acquisition is the “next […]
The strategic issue hasn’t changed. As CEO Gary Schoenfeld put it in the conference call, “Regrettably, over the past several years, PacSun lost some of its identity as a brand and its relevance among target consumers…” If they can fix that, they can succeed. Gary Schoenfeld took the job because he thinks they can. You can see their […]
Maybe ten days ago, I wrote this article that talked about JC Penney’s new pricing policy and strategy and referred you to an article on that strategy and why it might not work. I thought that article had some implications for our industry and I discussed them. Now, my ultra-sophisticated research department (thank you dear) has […]
If it wasn’t so intriguing, it would be getting boring. Zumiez’s sales for the quarter ended April 28, 2012 grew 22.7% to $129.9 million from $105.9 million in the same quarter the previous year. Comparable store sales were up 12.9%. Ecommerce sales rose 7.7% and were 6.2% of the quarter’s total sales. They think ecommerce may eventually be 10% […]
As you are probably aware JC Penney, struggling to find a sustainable market position, hired a high powered Apple executive as CEO. He got rid of all their sales and started offering everyday low prices in an attempt to regain some customer attention and loyalty. Based on their recent earnings release, it’s not working, though I hope […]
As I’ve told you, I’m not so much interested in analyzing the financial statements of big multi-brand corporations like VF (or Nike, or PPR, or Jarden, etc.) but of seeing, to the extent we can, what they are doing in the action sports/youth culture space (or whatever industry we’re in). Mostly I don’t think you want […]
I’m looking at Decker’s filings not because of a general interest in Deckers, but because they purchased Sanuk last July. Unlike Reef as part of VF Corporation, Sanuk is a significant part of Decker’s sales and profits so we can find out way more about how it’s doing as part of Deckers than we can find […]
