SPY’s sales for the quarter ended March 31 increased 22% during the quarter to $8.1 million compared to $6.7 million in the same quarter last year. The company had a net loss of $2.58 million compared to $1.52 million in the quarter last year. Sale of SPY branded products were also up 22% to $7.9 million. The remaining sales represented close out product from the licensed brands (O’Neill, Melodies by MJB, Margaritaville). Apparently More…
Archive for 2012
SPY Optic’s Quarter: Sales and Loss Both Grow
Friday, May 18th, 2012The Management Changes at Billabong
Thursday, May 17th, 2012Let’s review what’s happened. Over a few years, Billabong transformed itself from a wholesaler with a group of strong brands with some retail to a 600 store retailer that owns brands. The retail growth, I’ve written, probably took place a little faster than they had planned, but if what you think is the right opportunity appears, sometimes you just have to take a leap. For the brand and retail strategy to work More…
The IASC Skate Industry Conference
Wednesday, May 16th, 2012The International Association of Skateboard Company’s conference week was, as usual, well attended by the people you want to see there. That’s a lot of what makes it worth attending for me. I enjoyed the Hall of Fame awards. It was great to see and hear some of these people I’ve only read about. I left before the bitter end, but heard that there was no hotel bowling or arrests this year. Oh well. There More…
Skullcandy’s March Quarter: Great Sales Growth. Where’s the Income?
Friday, May 11th, 2012There’s a lot of interesting information in this10Q and the conference call. Let’s start with the income statement to see where we want to focus. You can see the whole 10Q here. First, we see a 47.9% growth in sales from $36 million in the quarter ended March 31, 2011 to $53.3 million in the same quarter this year. But net income rose only 4.4% from $1.07 million to $1.117 million. As a More…
What Can We Learn From Vail’s Metrics?
Thursday, May 3rd, 2012Vail Resorts released some metrics today on their season through April 22nd that I thought were worth a quick review because of some of the lessons it teaches any business about market positioning. I also want to discuss briefly accounting for season passes (try and contain your excitement). You can see the complete press release here. The numbers exclude Kirkwood, which was acquired by Vail only on April 12th. Lift ticket revenue was More…
PPR Earnings Release and Volcom- Exit Strategies for Core Brands
Monday, April 30th, 2012This article was occasioned by PPR’s release of its quarterly results, but that’s not really what it’s about. When PPR, or Decker’s or VF or Jarden releases earnings we’re interested in what happened mostly because we’d like to know what’s going on with Volcom, or Sanuk, or Reef, or K2/Ride. We never find out very much. Volcom is in PPR’s Sports & Lifestyle Division which includes Puma and Volcom (including Electric). Puma did More…
Globe’s Half Yearly Results
Tuesday, April 24th, 2012Globe actually released these back in February. As far as I can tell everybody, including me, missed them. There’s never a lot of information in these Australian six month results. Still, I thought a brief look might be in order. You can download the report yourself if you want to see it. Globe’s revenues fell 8% from $46.4 million Australian Dollars (all numbers in Australian Dollars) in the six month ended December 31, More…
Tilly’s IPO Moving Forward; Another S1 Amendment is Filed
Monday, April 23rd, 2012Not much is different in this filing, but we do get a few additional pieces of information. You can review what I wrote about their initial filing last July here. I updated that analysis in March of 2012 when they released their numbers for the year. My opinion hasn’t changed and I think the analysis is still valid. What we learn from the newly amended S1 is that the share price of the More…
Nike and Their Approach to Product Innovation. It’s Not All About Team Riders
Thursday, April 12th, 2012Nike recently came out with their 10Q for the quarter ended February 29th. I looked through it, read the conference call transcript, and sat down with the intention of doing my usual analysis. Then I thought to myself, “Who am I kidding?” You want my analysis? They keep growing, make a lot of money, and their balance sheet is as imposing as the Death Star in Star Wars, but in a good way More…
PacSun’s Year and Quarter; Progress, but Work Left to Do
Friday, April 6th, 2012I want to start by focusing on some comments PacSun’s management made that are indicative, I think, of why this is a harder environment for most industry companies and especially for one that is working through a turnaround. Strategies Improving their merchandise assortment planning is not a new theme for PacSun. It’s something that CEO Gary Schoenfeld has been focused on since he joined the company. They use to send pretty much More…
