Swiss snowboard apparel company Zimtstern has had an epic season, posting record sales, opening South Korea and fine tuning distribution across channels. The company has also reorganized its marketing team.
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Colorado Ski Country USA (CSCUSA) announced today that visits for January and February were off 5.8% percent from 2008 numbers, but that skier and rider days were up slightly across a five year average, a period that includes three record breaking years.
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Zumiez announced its fourth quarter results today, reporting a decrease of 13.4% in comparable store sales for the fourth quarter of fiscal 2008, compared to a 4.0% increase in the fourth quarter of fiscal 2007, according to a press release on the company’s investor relations site.
“Rick Brooks, Chief Executive Officer of Zumiez Inc., stated: ‘Fiscal 2008, particularly the second half of the year, was incredibly challenging. Since September the deteriorating economic conditions have significantly dampened consumer appetite for discretionary items. As a result, we saw a significant increase in promotional activity across all of retail, especially during the third and fourth quarters. We reacted in quick fashion and were able to manage our business in such a way to remain profitable for all four quarters of fiscal 2008. In light of the unprecedented environment, our team did an exceptional job controlling expenses, managing inventory, and most importantly, preserving the unique Zumiez concept. We begin 2009 confident that our strong balance sheet which includes approximately $79 million in cash, cash equivalents and current marketable securities, no debt and lean inventory levels, combined with our competitive advantages will allow us to successfully manage our business through this difficult macro environment. While longer-term we believe we are well positioned to drive increased profitability and greater shareholder value once the economy improves.’”
The company also introduced guidance for the first quarter of 2009, forecasting a net loss of approximately ($0.17) to ($0.13) per diluted share, according to the report. Zumiez also plans to open 37 stores in 2009, at the same pace it opened stores in 2008.
Click HERE to read the entire press release.
Web lift ticket discounter grows by leaps and bounds, partnering with 85 resorts.
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PacSun released fourth quarter sales data today in which it posted an 8.5% decrease in revenue and forecast a larger-than-expected first quarter ‘09 loss.
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“60 Second Sell” is a new TransWorld Business column that gives sales reps the chance to show their brand’s latest products in a minute or less. Submit your clips at business@transworld.net for a chance to get featured on Transworldbusiness.com. Note: Please limit videos to NO MORE than 60 seconds (1 minute)
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Charles “Mask” Lewis, the co-founder of MMA brand TapouT died early this morning when his Ferrari struck a light pole in Orange County.
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While news has been dominated recently by major contest sponsor pullouts, USASA & Monster struck up a multi year deal to make Monster the “Official Beverage” for USASA Nationals and regional events.
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Quiksilver is actively working on expanding its positioning and brand strength in the German market and has opened seven new stores there in the last several months.
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VF, though impacted by the recession in the third quarter and expecting it to last through 2009, had a good year in 2008. I’ll go over those numbers briefly, but there’s nothing all that intriguing or educational I feel the need to spend a bunch of time on. What’s more interesting is how VF describes its direct to consumer strategy.
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October is here and TransWorld Business has an issue full of useful business insight, relevant news, and hot industry topics.
Subscribe to TransWorld Business| DJIA | 10433.71 | |||||||
| NASDAQ | 2169.18 | |||||||
| S&P 500 | 1105.65 | |||||||
| Billabong Intl Lt | 9.20 | |||||||
| Globe Intl Ltd | 0.35 | |||||||
| Jarden Cp | 27.58 | |||||||
| Pacific Sunwear O | 3.55 | |||||||
| V F Cp | 72.34 | |||||||
| Quiksilver Cp | 1.87 | |||||||
| Zumiez Inc. | 11.02 | |||||||
| Abercrombie & Fit | 39.42 | |||||||
| Orange 21 Inc. | 0.71 | |||||||
| Sorc | 0.00 | |||||||
| Volcom, Inc. | 16.50 | |||||||
| Nike Inc Cl B | 64.52 | |||||||
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