Kering’s report for the quarter ended September 30 included almost no information on Volcom and Electric. No analysts asked questions about either brand, but that’s pretty standard.
Historically, there’s been enough in the slides and prepared remarks that I can use some simple math to figure out things are going, but not this time. Here’s all they tell us.
“Volcom and Electric: softer Q3. Volcom nearly stable with strong resilience in wholesale, against still adverse action sports market in the US.”
That’s it. They note in the prepared remarks that Electric also suffered from some higher costs, but don’t tell us which costs or why and they confirm what they say in the above quote.
Growth, as reported, in the Sport & Lifestyle segment which includes Volcom and Electric, but is dominated by Puma, grew 8.4% to a billion Euros.
Shortest report ever I think.