Bloomberg Reports Nike And VF Corp Interested In Quiksilver
josh hunter
- February 11 2009
- 3,510 views
- 53 comments
A February 11 report on Bloomberg.com further explores speculation that Nike and VF Corp are interested in acquiring Quiksilver. An apparel specilaist named Bob Copeland is attributed in the article, saying that “Nike Inc. and VF Corp. may try to buy sportswear maker Quiksilver Inc.”
Speculation of VF’s interest in Quiksilver was again fueled by VF Corp’s Q4 conference call on February 10.
“We are still interested in acquisitions,” Chief Executive Officer Eric Wiseman said during the call. “And we are fortunate to be in a position where we have a strong balance sheet and good business model that lets us keep active in that space.”
Wiseman added that outdoor, action sports, contemporary, and sportswear segments were “attractive.”
The article on Bloomberg also offers this statement in regards to rumors of Quiksilver selling DC Shoes:
“Quiksilver’s shares jumped as much as 72 percent on Jan. 26 after Women’s Wear Daily reported it may be acquired. The company, now trading at $1.59 a share, may fetch $1.50 a share to $3, Eric Tracy, an analyst with BB&T Capital Markets in Vienna, Virginia, wrote in a Jan. 27 report. If Quiksilver sells only its DC Shoes unit, for an estimated $530 million, it could reduce its $1.1 billion in debt, Tracy said.”
CLICK HERE FOR THE ENTIRE BLOOMBERG ARTICLE
CLICK HERE FOR VF CORP Q4 CONFERENCE CALL TRANSCRIPT
Stay tuned to Transworldbusiness.com for real-time updates on this story as they happen.
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February 11th, 2009 at 11:14 am
!WHAM, BAM, KABOOM! We ALL knew that was coming! The hell with all you Quik Militants calling us haters when we speculated that VF and Nike were potential buyers months ago. Bet ya’ll feel pretty stupid now, huh? If and when Quik gets bought out, VF or Nike will finally clean out The House of Quiksilver! Who wins?: Big Bobbby McBucks, that’s who!!! Are you kidding? This is his Golden Ticket on his way out to a very comfortable retirement! What a disaster to the apparel industry! *BTW…my bud got canned from Quik after 5 years! That SUCKS!
February 11th, 2009 at 11:39 am
I like you Divine but think you might not be looking at this through to the end , Bob Mc Knight could easily be on Tavy for the rest of his life , now. He has chosen to return to the helm , stay and fight. That alone is amazing and earns respect .
Next , personally i can think of nothing worse for the Surf Industry , yeah i said SURF industry , than selling to either of those mammoth conglomerates. The monkees will be running the zoo.
Doubt very seriously Bob reads any of this mumbo jumbo , i would’nt if i had anything else to do but if per-chance he does , Box on Bob, it’s a chilly wind but you can always close the flap on that Echo Beach jacket !
February 11th, 2009 at 12:04 pm
Bob isnt returning to the healms of his sinking ship to do shit but sell it. If he walked away now on its current course it would be difficult if not possible to negotiate brand value and getting top dollar for his failures. He’s gotta make it appear as if things are getting better so he can have some sorta of leverage when it comes time to sell out. If you think that earns respect then that just means Bob’s grand scheme fooled you too. Have fun in your Echo Beach Jacket, hope it keeps you dry in the unemployment line while Bob laughs all the way to the bank.
February 11th, 2009 at 12:44 pm
Not so silent observer
You make a case for a nice soap opera but again if the man or even the men there are that short sided and mallicious why not bail at the first sign of trouble , they have plenty of money , although the 401k. is hit i would imagine . They would then have ego’s intact and they would have walked away having only built it up.
it’s all fun conjecture and you may be super close to Bob and crew , i have seen better from them in the past and personally think there is more substance there , let’s grab a beer , some chips and watch , i think it’s on right after General Hospital
February 11th, 2009 at 12:49 pm
sorry ; mixed my metaphors ; should read ..Short sighted .
February 11th, 2009 at 1:10 pm
Thanks renny man! You DO make a sound arguement on Bob’s /Quicksilver’s behalf. Yes, it’s benevolent and outright chilvary for Bob to stay tight and put up a fight. But seriously, is he really doing it to save the hindquarters of Quiksilver and it’s employees, or HIS bottom line? Dude, my man…one can only “fight” for so long before waving the flag of surrender. DEBT is a serious cancer in the world of business! Don’t get me wrong, please don’t: I DO want Quik to stay afloat, but not in the manner of how it’s been operating lately/for some time.
February 11th, 2009 at 2:01 pm
Right on Divine ! You can come watch with me and Silent Observer ! Please don’t think i am underestimating the size of the fight , just feel some are unjustly underestimating the size of the fight in Bob and and his crew.
As John Lennon put it ; ” Strange days indeed ” whatever happens , it will be unprecendented and once again Bob will have prepared the fields for the rest of us.
Pull up a chair Divine , you can bring the wine !
February 11th, 2009 at 2:05 pm
I’m there and square my brudda!!!
February 11th, 2009 at 2:35 pm
“There comes a time when every man feels the urge to spit on his hands, hoist the black flag, and start slitting throats.”
H.L. Mencken
February 11th, 2009 at 3:32 pm
this is tuff time I would like to see them ,come out of this but they just need to make some better product that I wont to buy
most people that build this kind of company don’t walk way very easy
read “good to great company ” its a good book
I hope they come out of this
February 11th, 2009 at 3:40 pm
Ohhhh la la ( small faces reference ? nice )
Great quote and maybe part of Bob’s will to fight or it could be inspiration from Nietzsche when he said ” Sometimes one remains faithfull to a cause only because his opponents remain so very insipid and dull.”
February 11th, 2009 at 7:05 pm
TWRumorMill “links” to “Bloomberg Article” on a “Speculation”. Do you guys do any work over there or are SDSU interns getting their credits in? Why don’t you guys actually interview Bob? Be a leader in boardsports news and information. Break a story! If this was an intern, B- for your click and paste.
February 11th, 2009 at 9:39 pm
HEEEEE HAAAAW. That should sum up this whole forum and most who are posting!!!!!
Kazuki says go fark you self!
February 12th, 2009 at 1:27 am
I PISS ON QUIKS GRAVE
February 12th, 2009 at 7:10 am
awesome comment! really some of the most sensible stuff ever written here in this forum. why not start to put some journalism in the world again - not copy paste agency-ism - and make sense of an otherwise senseless world in the way you ve be claiming - a boardsports way. lets call a spade a spade and start asking people what the f*** is happening.
February 12th, 2009 at 9:39 am
We know you do DUN. I would expect nothing less from you. You see the big man down and want to kick and piss on him. If you in fact are pissing on Quik’s grave, you can start digging your own. Quik has done more for the industry hands down than any other corp. period! You have nothing intelligent to say based on all your previous posts relating to Quiksilver. So as the old saying goes you may want to say nothing at all. Enjoy your pessimistic hate filled life! Im going to keep busting my ass and be the solution, thanks for motivating me even more than ever before.
February 12th, 2009 at 10:08 am
It’s called aggregating content. The story is that Bloomberg is reporting on VF/ Quik…Bloomberg is a major mainstream media source. TW “Rumor Mill” reported on this two weeks ago. You guys are missing the point here. This post is simply pointing to the fact that other major media sources outside the industry are covering this story too …that’s it.
TWRumorMill, would you have seen the Bloomberg article if the site you’re hating on hadn’t posted it? I’m guessing no. That’s the point.
All companies involved are publicly traded so there is nothing that can be said until something happens….not Bob, not VF … nobody can talk and everything will be total “speculation” until there is an official press release if and when something does happen.
February 12th, 2009 at 10:45 am
Well it hasn’t don anything for Quik Stock…seems like no one took the bait.
February 12th, 2009 at 11:00 am
No bait needed , it has notched up for the last 3 days in row , inside down market days , slow and steady wins the rat race .
February 12th, 2009 at 11:51 am
in fact VF has been significantly down all 3 days , hey , Quik to buy VF ! you heard it here 1st. TWSrumormill
February 12th, 2009 at 12:14 pm
C’mon, go easy on DUN! He lost his job at Quik washing Bob’s car 3x a week.
February 12th, 2009 at 1:22 pm
Sorry for sounding pessimistic, but Quik won’t pull out of this debacle without; 1)filing for bankruptcy, or, 2)consider buyout offers. They are just way too steeped and deep in debt to remain as they are. This stimulus package wont’ solve anything. I’m going to refer to an old passage: “Give a man a fish, he eats for the day. Teach a man to fish, he eats for a liftime”. JOBS and JOB SECURITY is what’s needed, not government monetary handouts.
February 12th, 2009 at 5:25 pm
Lance, I’m surprised you can read at all with a posting like that….
February 12th, 2009 at 5:36 pm
Why would they want to make better product if you won’t buy it anyway ?
February 12th, 2009 at 10:38 pm
Quik will go the way of Ocean Pacific. MARK my words… Nike ain’t interested and this story is old hat. The VFCorp deal for DC was inked back in mid-Jan. Bloomberg is phishing for readers…
The interesting point here is the price tag for DC. That is about $200 million less than was rumored or written about here. Interesting times, lads.
February 12th, 2009 at 10:43 pm
Further, Bob Copeland??? Kurt Salmon Associates??? Atlanta??? WHO THE HECK??? I wouldn’t be surprised if A&F made a pitch for Quik… Sad times, lads.
February 13th, 2009 at 1:45 am
Yes. Thanks for the Internet 101 and Business Law 101 lessons. Already saw the bloomberg article, good guess.
Thanks for reinforcing my point that TWRumorMill=TWBusiness (Since you didn’t figure that one out), should, constructively, take the next step to do some reporting (Since that’s what they claim they are the leader in) around the story.
Instead of just clicking and pasting.
But hell, they’re just “the leader in Boardsports news and information”. No pressure to actually do they’re work.
February 13th, 2009 at 2:54 am
I HEARD THEY WILL
February 13th, 2009 at 3:15 am
We should stop the debate of Nike or VF Corp being “core” or not:
Nike owns Hurley. Has Hurley changed identity? No
VF Corp owns Vans. Has Vans changed identity changed? No
Both brands remain true to their origins.
The debate is not there, the debate is that we have many people that could loose their jobs due to a wrong investment from Quik management(buy Rossi). Now the thing is to make sure that the deal weather it is Nike or VF Corp ensure as much as possible people to remain on board.
BTW, it looks like Nike SB is doing well in the store among customers…
Let’s stop the debate of the giant vs the dwarf, let’s make sure we can ensure the business prosperity and preserve the image of the sport
February 13th, 2009 at 3:19 am
Quik is done, thats what I’ve been saying all along.
February 13th, 2009 at 3:25 am
Lots of speculation above?. but one thing that is for sure? the recovery of QS is pretty unlikely.
Check out global apparel trends and you will see the old business model of a lifestyle brand wholesaling to independent retailers is dying a terrible horrific death. This wholesale model is dying right in front of your own eyes.
It?s all about vertical and quick response to market trends, example Zara, H&M, Uniqlo, Topshop, Forever 21, Private labels in Urban Outfitters etc? QS tried vertical with all THEIR stores but failed with that strategy because they do not know how to respond to market trends fast enough. Therefore their product mix was out of sync with the key retailers of fashion goods.
Quick to market with product is an art form that our ASI business knows nothing about. Suggest core surf stores immediately devote 70% of their floor space to technical functional products that the other guys have no interest and do not need in their stores. The few remaining basic apparel items should have your own brand on the garments, (assuming you are a real surf store). The branded lifestyle over priced apparel swindle is over, the youth of today are way smarter than that, they don?t give a shit about the world tour etc? it?s so dated. Rush to fill your stores with relevant boards, wetsuits and accessories. Once you re jig your business you may end up with a bit more time to actually paddle out or drop down a mountain.
February 13th, 2009 at 6:08 am
Berti Dude , if you don’t think Hurley’s entire world has changed then you have not even been paying attention. They are a classic example of a culture clash ! Wake up and smell H.R.’s ass buddy !
February 13th, 2009 at 6:13 am
What do you think about cut and paste post TWSrumormill ? Cut and paste Dundee ? ! the dumb leading the dumber !
February 13th, 2009 at 6:40 am
Croc ( that’s croc with a “c” ) Dundee has an compelling point of view as always , he does seem to forget that for every success story he mentions there have been retailers with the same model who ran their course ( Colors of Benellton ? ) sp? , etc.
Dundee paints a very insipid and Orwellian future for our youth. He does give them proper credit so let’s hope they reject that future as well , or more likely , at least make room for both styles .
February 13th, 2009 at 6:51 am
Maybe the image hasn’t changed, but their distribution has, you will find these brands in places you would never had seen them before, mass retailers & close out stores. In the end they may have increased there sales 10 fold but in the end hurt the brand equity.
February 13th, 2009 at 8:23 am
TWRumorMIll,
I fully understood the duality of the name you’re using to post comments and the pet name you’ve given TWBusiness. So when I said that TW “Rumor Mill” reported on this two weeks ago, I was refering to TWBusiness … not you.
Now, since it’s very apparent that you are easily confused, I’ll aim a little lower when trying to communicate an idea to you.
Back to the concept of aggregate data. I know… big words, but stick with me for a sec simpleton.
Have you heard of the drudge report? the site changed the way millions of people consume their (notice how you spell the possessive form of this pronoun..they’re work = they are work) media. Rather than having to go to several sites, content aggregators draw users, and in turn traffic by offering ALL the information on a particular story, topic, issue, etc in one place so they don’t lose their (see, not they are) readers to another site. These days you have to report on topics as well as report on who else is reporting on the same topics or you are behind the curve … like you are.
What I don’t understand is why you spend so much time reading this site only to bash it? If there is another site that is “the leader in boardsports news and information” then why aren’t you on that site? What’s your motive? Transworld fire you or something? Maybe they had layoffs? I could see how someone with your limited intellect might not make the cut.
February 13th, 2009 at 2:11 pm
Kazuki was right, Hee Haaw!
February 13th, 2009 at 3:06 pm
And this one started out so nice and insightful from obvious vet’s of the surf / skate /snow / shoe wars , Whateva is right but only if he stops at his name . “Whateva’s ..we go “! Vince Moaloka
February 13th, 2009 at 3:35 pm
Quikie 2 borrowed from Dundee,
Very well said in your last post, I disagree slightly in that Quik can make a comeback but must change their entire supply chain to meet end customer needs, wants and desires. Until they do this they will lose market share to the aforementioned verticle retailers you mention in addition to Hollister and especially American Apparel who have created and innovated their supply chains to meet the needs of their end consumers,
The ASI industry needs to get as creative in supply chain management as it is in design and lifestyle marketing.
http://therookery.ning.com/
February 14th, 2009 at 7:29 pm
hi there
okay yes I can’t spell but this is not the best forum of communicating, we just keep making smaller words and so on
shoot maybe I am know different.
I wont to buy product from them but they have not come out with anythng that I have seen that makes me say my customers must have that i.e heated wetsuit not sure if it works but I will test it and post it soon
spell check away now …
I hope quik reads this because it could be helpful to them
February 14th, 2009 at 8:16 pm
Lance , I never talk about spelling as without spell check , i have the capacity of a 4th.grader but it is just CLASSIC that you missed it again !
Freudian slip ?
I get it on what you are saying and all i would ask you is : are you looking with an unbiased eye ? What do your selling reports say or does it make past you and to the floor because from where i sit the product is right on point and leading in some areas.
Wetsuit wise , i hope that Rip Curl’s heated one works both on the sales floor and in the water !
February 17th, 2009 at 12:39 pm
I have known Bob & the crew for a long time & can tell you this, the layoffs are hitting them emotionally, they are living a nightmare and they are fighting for their lives. Quiksilver has deservingly been the lion of our industry for a long time and having guys at the helm of companies that still drop in and live the dream like Bob, Paul, Swank, Pierre etc is the only thing that differentiates us from the crap exploitive garmento world of fashion and other lame industries. VF or Nike buying Quik would suck and if the sell out trend continues it will be all Brittney Spears & Ryan Sheckler from here to eternity, we better hope they make it work. Here is my prediction; Quik sells off DC with the attitude that Rossignal took and DC can give some of the loss back, they will go back to focusing on what got them here Quik, Roxy (whose sales are both still very strong and profitable considering the market) and some of the smaller brands. They will re-group, start over, make some small acquisition for around $15-20 mill and build those brands through their massive distribution network (the way the tripled DC in a short period of time) and within 5 years their stock will be back up somewhere between $13-$15 and then unfortunately for all of us they will consider cashing out.
February 17th, 2009 at 12:47 pm
Yo y’all: I just got a call from a bud at Quik that ANOTHER round of layoffs may in the works as I type this post!!! YEEOOWW! OUCH!
February 17th, 2009 at 6:10 pm
Nope. But, I do think you wish they were. You’re lame. Go home with your “y’all” and “YEEOOWW”
February 17th, 2009 at 10:51 pm
Pink slips dont come out till friday. That way it cuts down on work place violence. Bob isn’t making any friends here lately and needs to take precautions. Anonymous dust off your resume, security will escort you out 2/20.
February 17th, 2009 at 11:06 pm
Hey Anonymous dust off your rez, because you’ll be at Dukes cryin’ in yer beer when you get canned Friday! Seriously man, Quik is dying a slow and painful death from what I hear. Good comment um…WHAT! Hey um…WHAT, I heard the same thing about Bob McBucks not having many friends lately.
February 18th, 2009 at 12:23 pm
To um…what: Exactly, “from what I hear.”
To Homer Meek: The last (real) layoffs were on a Tuesday. I guess that is Quik’s way of avoiding the violence??
February 18th, 2009 at 1:28 pm
Work place violence ! ? Where do you work um..What ? Lost or Rusty ?!
February 20th, 2009 at 8:17 am
Hey Homer , i brought my box to work but NO ONE thought is was funny ! Now i am worried about being written up more than laid off ! Thanks a helluva lot Mr KNOW IT ALL !
February 20th, 2009 at 11:30 am
Are you refering to the box between your legs? I’m guessing you are one of the many hedonistic hobags at the HQ. Yep, I gave a few of them a good rodgering! Bitch at that divine hammer guy, he seems to know it all.
February 21st, 2009 at 9:50 am
Hey Homo Meek, Friday has come and passed… I’m not saying another round of layoffs aren’t coming, I’m saying you DO NOT KNOW SHIT! and you’re lame.
The things you say is not changing anything or anyone’s mind… you’re just proving that there is a lot of hate/jealousy out there.