Maybe a Public Company Can Actually Pull This Off! Skullcandy’s June 30 Quarter

August 19th, 2014

I’ve written probably way more times than you want to hear about how it’s been a good time to focus on brand building, distribution, and gross margin dollars rather than generating big sales increases that can only be realized in the short term with resulting long term damage to a business.   And I’ve sympathized with public companies who’d like to take this approach, but have a hard time doing it […]

Losing a Big Customer Sucks: SPY’s Quarter

August 18th, 2014

Long time readers have been through the saga of Spy with me. But for the last couple of years, they’ve pretty much done things right. They’ve cleaned up inventory, managed expenses down, focused on a niche they can compete in, strengthened the management team, done some innovative product things, gotten out of products that weren’t working, and created and communicated a company vision consistent with their market position.  So then, in the […]

All About Outdoor & Action Sports: VF’s Quarter

August 13th, 2014

That the outdoor and action sports segment (OAS) of VF’s business is critical to its overall success is pretty obvious from the numbers. Total company revenue for the quarter rose 8% from $2.22 to $2.4 billion. OAS revenue rose 16% from $1.1 to $1.28 billion. OAS generated more than 53% of the quarter’s total revenues. OAS revenue experienced “…double-digit percentage growth in every region and channel.”  But revenue from VF’s other segments- coalitions as […]

Volcom’s New Positioning and Kering’s Half Year Results

August 2nd, 2014

Back on July 9th, Volcom presented a new brand vision to a group of 100 retailers and media people. I wasn’t invited so all I know is what was reported in Transworld and a little that some people have told me.  Last week Kering, Volcom’s parent company, released its results for the 6 month ended June 30, 2014, so this seems like a good time to touch on both and the […]

GoPro Goes- Public, That Is. A Look at the Final Prospectus

June 28th, 2014

As pretty much everybody knows, GoPro went public last Wednesday. How refreshing to see a company go public that’s actually making a product and money. GoPro sold 8.9 million shares of its class A common stock at $24 a share and raised a bit less than $200 million. $110 million will go right out the door to repay a line of credit they took out so they could pay a dividend to shareholders […]

Quiksilver’s Quarter: The Impact of Market Trends

June 9th, 2014

In the quarter ended April 30, Quiksilver’s revenue fell 10.4% from $456 to $408 million. The net loss grew from $32.4 to $53.1 million. Discontinued product lines contributed $9 million to revenue in last year’s quarter, but none in this year’s. A year ago, they also owned Mervin and the Hawk brand. I’m a little surprised they didn’t mention how much revenue those brands contributed a year ago.   I’ll spare you a long […]

Can the Golden State of Mind Take Hold? PacSun’s First Quarter

June 6th, 2014

Though PacSun still reported a loss in the quarter ended May 3, the income statement improved compared to the same quarter last year. Sales were up 2.9% from $166.4 to $171.1 million. The increase was the result of comparable store sales being up 3% compared to last year’s quarter. The average sales transaction was up 6%, though the number of transactions was down 3%. Ecommerce sales during the quarter grew 6% compared to last […]

“We’ll Go Anywhere Our Customers Give Us Permission to Go;” Zumiez’s Quarterly Report

May 29th, 2014

A few reports ago, I opined that while Zumiez owned the action sports space in the mall, the relatively small size of that niche and the evolution of the market to youth culture or fashion or whatever you want to call it was going to require Zumiez to move beyond it to achieve their growth plans.  During the conference call for the quarter ended May 3, an analyst asked, “…you […]

Skullcandy’s First Quarter: Signs That the Strategy is Taking Hold

May 27th, 2014

The improvement in Skull’s financials for the quarter ended March 31 is clear on both the income statement and balance sheet, though the company still reported a loss. You can see the 10Q here.  Skull, as you may recall, is focused on building the brand by aggressively reducing off price sales, being cautious with distribution, taking product development in house, and focusing on some specific niches. They’ve also, of course, managed their […]

SPY’s Results for the Quarter; Operating Income Rises, but Interest Expense is a Killer.

May 7th, 2014

As usual, SPY had the courtesy to file its 10Q with the SEC about the same time they did their conference call, making my job easier and my analysis more timely. You can see the 10Q here.  Sales for the quarter ended March 31 rose 2% from $9 to $9.2 million compared to the same quarter last year. In this market, I wouldn’t necessarily call 2% increase in revenue a bad result. Especially […]