Analyst Says Quiksilver Debt Reworking Makes Sale Less Likely
josh hunter
- January 27 2009
- 3,281 views
- 139 comments
According to Brandon J. Ferro, an analyst with KeyBanc Capital Markets part of Cleveland-based KeyCorp, Quiksilver’s bid to rework some of its debt makes it less likely the company will sell some of its brands or even all of the company.
This comes after ZQK stock surged to 2.59 on Monday, January 26 after longtime speculation that it was selling DC to VF Corp reached the investor level, credited in part to an article in WWD.
The OC Business Journal reports: “An analyst on Tuesday threw coldwater on the prospects of Huntington Beach-based Quiksilver Inc. selling part or all of the company as it seeks to restructure its debt in February.”
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January 27th, 2009 at 11:39 am
Now I’m totally confused!!! I need a beer…
January 27th, 2009 at 6:30 pm
DC insiders say the deal was already signed off on for a specific $ amount. ZQK just has to adjust payroll to fit the dollar amount presented.
If all falls through and ZQK keeps DC, how will they possibly pay down $1 billion in debt?
In my opinion, they should follow through, let the buy proceed (if the price for DC is at least $800 million, as previously proposed). That would reduce a substantial amount of ZQK debt. How could they not? Maybe VFCorp is turning the screws on the price?
January 27th, 2009 at 9:42 pm
BINGO!!
“Maybe VFCorp is turning the screws on the price?”
January 27th, 2009 at 9:43 pm
BINGO!!
“Maybe VFCorp is turning the screws on the price?”
January 27th, 2009 at 9:44 pm
GOOD LUCK WITH THE PEOPLE THEY KEPT…..IT HELPS IF ANY ONE KNOWS ANYTHING ABOUT SURF OR SKATE INSTEAD OF OLD SCHOOL APPAREL MANUFACTURING. GOOD LUCK!
January 27th, 2009 at 10:51 pm
I worked for Quik for exactly one year and witnessed things that they never teach you in a business class, it defies all logic. For instance one employee stole $60k due to mismanagement of inventory tracking or pretty much the lack there of. Startling was when we turned it in to corporate they were willing to write it off and not even look into it. Its practices like these that got them into the situation they are in now. Bob is so out of touch with the market and so are their designs, they put stores where there is no demand and rip everyone’s designs off, how about this cut the dead weight Bobby I know exactly how many of your stores are closing their till next to nothing and it sure isn’t pretty. Quit “Jerseying” out the brand, close some stores, sell DC, and get some new designers that aren’t just in tune with the 50’s something crowd and more with the youth. Its like what happen in Detroit, the president looks out his window and sees a sea of GM vehicles, well everything must be good he thinks. Problem is he is looking into the employee lot, now if Bob would get his sorry ass up and out of Huntington Beach every once in awhile then maybe reality would set in that QUIK and its designs blow. They just try and play catch up season to season with trends and its not working. They spent how many millions of dollars on their “Leaders for Life Program?” Great effort Bob spend all that loot to train people that you just cut loose, what a waste. Thats like gift wrapping garbage and thats exactly what this brand is, garbage. For all of you with stock, hope is on the horizon I already heard it straight from the source the DC deal has been inked. Amazing with all this bullshit going on that Quik still had the audacity to throw their employee’s an 80’s party at corporate even while stocks were tumbling. Its like when the string quartet played during the sinking of the Titanic just to keep people calm. Bob care to comment how much you guys spent on the stupid party anyways? How do you sleep at night? Que the violins…
January 27th, 2009 at 11:04 pm
“You can only polish a turd so much.” Looks like the DC life-raft has just departed, I heard the same thing just wait until after SIA for the big announcement. That way VF can cash in on early season prebookings without cannibalizing business.
January 27th, 2009 at 11:07 pm
I heard it was worth $750 million sounds like VF is wrenching them big time and strong arming them to get it at a bargain price thats the reason for all this monkeying around the ball is in VF’s court.
January 28th, 2009 at 10:22 am
Did VF bought DC already? Please post
January 28th, 2009 at 1:23 pm
Do the math! A billion dollars in debt? Of course they sold, but like everything in life announcing the sale comes down to timing. They won’t announce it until after SIA.
January 28th, 2009 at 8:46 pm
Why would VF buy DC when they can wait it out and buy it for nothing.
January 29th, 2009 at 11:51 am
All y’all need to stop hating so much. I think calling the brand garbage isn’t exactly a valid argument since that is completely subjective.
January 29th, 2009 at 12:26 pm
Chris Proctor is a Quiksilver employee, obviously…
January 29th, 2009 at 12:31 pm
Because VF isn’t the only potential buyer, if Nike jumps in the pool that will get Nike into board production something they don’t yet have. Also their SB market isn’t necessarily the core skate market they are trying to capture DC does a better job at that it would be a wise move on Nike’s part much better then their acquisition of Converse with much more potential then Chuck Taylors.
January 29th, 2009 at 12:34 pm
Anonymous is a bitter former employee…obviously
January 29th, 2009 at 12:38 pm
Yep just googled it, Chris Proctor is tainted, definitely Quiksilver so says Facebook. Nice try bud your brand is still garbage, ask Matix how they feel about you guys stealing their hoodie design. Or Sessions about their star logo on your winter outerwear. Quik dodged a bullet with their lawsuit with Espn and their dispute over the ‘X” logo but they won’t get as lucky when Sessions files suit. Chalk another one up to stupidity that could have been avoided.
January 29th, 2009 at 12:59 pm
Annonymous has a valid arguement, actually. I like the analogy of the violins playing as the Titanic sinks! I don’t wish ill on Quicksilver as a company in general, but I do agree on the amount of waste in dollars and cents for them to throw parties just to keep their employees mentally innoculated during tough times. A large part of their “workforce” are not core anything. Sex, drugs, ‘n rock n roll seems to be the norm there from what my bud tells me (he works in there). He says to scrap the crap already there, level out economically, and bring on board those who are well versed in the culture and are original thinkers.
January 29th, 2009 at 6:28 pm
To the guy who hid behind his “annonymous” post on 2009-01-27 22:51:46, you have some valid points but also made some assumptions that might not have been so valid. Like the fact that you heard “straight from the source” that the DC deal is done. What source might that be? Cause I just heard from Bob McKnight in a conference he held that the DC deal is in fact not “inked”, but rather we are “entertaining” buyers. I just want to make sure people posting on this thread aren’t talking out their ass.
January 29th, 2009 at 6:51 pm
so all yall who think quik “steals” designs ya they may borrow or use inspiration but isnt that what design is all about??? ya it is i actually go to design school and have taken history of fashion and i am sorry to inform all yall that NOTHING is NEW!!!!! it is all repeated all the way back to egypt and ya im a quik employee google that shit up, i dont care im not saying they are perfect i have my issues with them but everything is changing now, you also might wanna get your potential buyers correct too, from what ive heard from DC employees is that damian way and ken block are the potentials. oh and googlemeister you are way to cool try to find me and google my ass up i am a quik employee i actually happen to work with 2PROC figure that out wanker. ya im heated but its my company that treats me pretty damn well so please stop hating thank you. have a wonderful day/night.
January 29th, 2009 at 7:04 pm
awwweeee shiiit R2 found this thread. Hey annonymous I think what Thomas John Gleason, registered Quik employee on Facebook is trying to say is that anywhere you look, not just in fashion but in architecture, music, ANYTHING, all new ideas spawn from older ones. At this point on man kind’s time line you just can’t possibly have a 100% new and original idea that is completely innate and devoid of any inspiration. And let us now turn away from the retail side of things and look at quik’s athletes. Kelly Slater? Dane Reynolds? Travis Rice? Tony Hawk? Omar Hassan? Randall Harris? Come on man, these athletes are the world’s absolute top riders in their respective sports. Do you think they were forced to ride for Quik? I think the top riders decided to choose to ride for the top brand in the industry. And hey, thats just my personal opinion which I believe merrits some value not just as a Quik employee but also a lover of the board sports. You should add me googlemeister!!
January 29th, 2009 at 8:00 pm
Hell yeah. Shut all the haters up! Quik has turned the corner so I hope you all had fun kicking the shit out of the brand and Bob while they was down playboys. Now get ready for shiiiit to turn around. I wish everyone the best of luck, and I still cant believe some of the clowns that dont have a clue posting on here. Google that shit!
Rapping Motha Phucking Mike
January 29th, 2009 at 10:07 pm
Chris Proctor is this the conference you refer to?
Hello!
Yesterday, Bob called for a town hall meeting. I want to take a moment to share with you what Bob shared with all of us here at HB. All 1245 Quikies gather at the bleachers listening intently.
?This economy has affected me personally like it has with all of you?I have not been sleeping really well?the last time that OUR company was in this crisis was back in 1991?I had to lay off friends of mine that worked here for over 20 yeas and that was the hardest thing that I?ve ever done?I never thought that I would do it again but for sake of our future, I have to do the right thing??
Bob went on and explain the growth years of Quiksilver
? since 1992 to 2006, we had double digit growth and many of the employees that I laid-off came back to our family and many of them had great successful career ( our current President of QS and Roxy for the America, Steve Tully)
Bob spoke on our current financial situation and rumors on the street
1. WE ARE NOT FOR SALE?no we don?t want any one to buy US
2. NO, WE ARE NOT GOING TO FILE BANKRUPCY!…we are doing the following things to improve our debt?.we have to roll our short term debt to long term to create more cash flow to operate and grow our business?we have to start with Asia, Europe than the Americas?
3. We are entertaining possible buyer for DC?WE HAVE NO DEAL ON THE TABLE
Overall, it was a great meeting because he spoke from the heart and shares his strategies to guide US out of this economy?.
Don’t you get it I am “you” I am “Quik” and I’m tellin from the inside the DC deal is done! You guys are like the blind leading the blind, kinda like the cattle in the back of the line at the slaughter house at the end of the day your are still dead meat, regardless of your pecking order. If you want I can send out an email from here at corporate too and sugar coat shit and blow smoke up your skirts too. I’m not a former employee I am a current employee and if Bob sold then my stock would then rebound at least back to $7 instead of $2 a share and would be doing me a huge favor. Please see the following link:
http://www.latimes.com/business/la-fi-nike27-2009jan27,0,4364267.story
Secondly, Ken and Damon are not potential buyers they sold for $87 million in 94′ in a cash and stock option combination and because the way Bob has guided this company he has failed them and their stocks as well. ( http://www.accessmylibrary.com/coms2/summary_0286-7680097_ITM )Damon has moved on and is heavily involved at “Incase” Ken is the brand manager of DC but ultimately has no control of this. Ken has successfully moved his brand in the right direction and the net worth for that line has ballooned to $800 million far much more then the $87 mill they got and unfortunately they aren’t big enough players to entertain the idea of buying it back. Quik has to entertain the idea of selling to the highest bidder, sadly this is now out of reach for them. Bob should have been replaced with Ken Block in my opinion. The best thing Bob could do now is sell. Stock holders would be rewarded i.e. myself, even Ken and Damon too. At least then Quik could refinance their debit of 250 million much more easily and poise themselves for a turn around, and maybe even consider replacing Bob with Ken. Bob didn’t volunteer for his %16 percent pay cut until he fucked my friends over, and my family by reducing my hours and pay. Maybe instead of cutting the fat starting at the bottom and cutting 200 jobs and picking on us little guys who make this company, maybe we should have started at the top. I mean how many more millions does Bob need? I know my petty check means nothing but when we are talking millions vs. thousands you tell me where you think the fat is. But hey listen what do i know I mean if you want to listen to another email sent on Bob’s behalf from Carol Scherman about how we should hold hands and sing kumbaya my lord, and wish this thing away, go ahead. Bob do me a favor, and sell so that way at least my stock can rebound and I can get to my feet and seek employment elsewhere all you guys can continue to be in denial of how shitty this brand is thats fine by me but a fool and his money are soon parted. No wonder the Madoff scandal was possible because you people will believe anything. In Bob we don’t trust! Ps to all you Bob supporters, I heard Hurley is hiring I warned you and then I even told ya where to look for a job, you guys can thank me later.
or is this bullshit and I’m just trying to pump and dump a stock?
Yours Truly,
Quiksilver
January 29th, 2009 at 10:16 pm
Hello!
Yesterday, Bob called for a town hall meeting. I want to take a moment to share with you what Bob shared with all of us here at HB. All 1245 Quikies gather at the bleachers listening intently.
?This economy has affected me personally like it has with all of you?I have not been sleeping really well?the last time that OUR company was in this crisis was back in 1991?I had to lay off friends of mine that worked here for over 20 yeas and that was the hardest thing that I?ve ever done?I never thought that I would do it again but for sake of our future, I have to do the right thing??
Bob went on and explain the growth years of Quiksilver
? since 1992 to 2006, we had double digit growth and many of the employees that I laid-off came back to our family and many of them had great successful career ( our current President of QS and Roxy for the America, Steve Tully)
Bob spoke on our current financial situation and rumors on the street
1. WE ARE NOT FOR SALE?no we don?t want any one to buy US
2. NO, WE ARE NOT GOING TO FILE BANKRUPCY!…we are doing the following things to improve our debt?.we have to roll our short term debt to long term to create more cash flow to operate and grow our business?we have to start with Asia, Europe than the Americas?
3. We are entertaining possible buyer for DC?WE HAVE NO DEAL ON THE TABLE
Overall, it was a great meeting because he spoke from the heart and shares his strategies to guide US out of this economy?.
Hey Chris Proctor is this the conference you refer to with Bob? That was Dewey Doan blowing smoke up your skirt and quoting Bob, not a conference with Bob. Don’t you get it I am you I am Quik and I’m telling you this brand is shit.
January 29th, 2009 at 10:41 pm
^ this whole thing is very confusing… is that “transcript” account from a “meeting” legit? who is posting these things?
January 29th, 2009 at 10:42 pm
you’re a cook! Get stuffed!
January 29th, 2009 at 10:53 pm
Ken Block and Damon Way are not potential buyers because they sold for $87 milion in 2004. Since that time Ken has successfully piloted his brand as brand manager to a brand value of roughly $800 million much more then what him and Damon were paid. Which I should mention, it was a cash and stock combination option, so Bob has let them down too because their stock is down 80% as well. (http://www.accessmylibrary.com/coms2/summary_0286-7680097_ITM) I think personally that Bob should be replaced with Ken with his proven track record for growth and brand integrity. Damon has left and is heavily involved at “Incase” which is his priority. You guys are like cattle at the slaughter house, at the end of the day you all end up as dead meat; regardless of your pecking order. Maybe instead of cutting 200 jobs, reducing our hours, and cutting this so called fat starting at the bottom; which I might add is actually the backbone of our company and the people that make this brand we could have looked elsewhere. How many more millions does Bob need to stack away? You think Bob took that 16% pay cut before he screwed over my friends and family? No he only did that last as a last resort when a lot of this loss could have been avoided. (This should have been done first rather then screwing the little people; I mean hell what’s the few thousand Bob pays me compared to the millions he puts away) If you guys want to sit around and listen to more emails from Carol Scherman and Dewey sent on Bob’s behalf because he is to busy out surfing with Kelly about how we should join hands and sing kumbaya my lord and wish this thing away then go ahead and be my guest. My stock, Ken and even Damons too would be at least $7 per share instead of $2 if Bob just did the right thing and sold DC.( http://www.latimes.com/business/la-fi-nike27-2009jan27,0,4364267.story ) He would be doing DC and all of us invested employees a huge favor and would rebound this stock he has driven into the ground. Maybe we can even take a hint from Illinois and vote Bob out too. Thats fine say what you guys want but let me give you guys a heads up VF is hiring, denial and ignorance must be bliss especially at a time like this. Stick a fork in it this company its done, DC bought by VF, wait until after SIA. Then we’ll see if Quik can fend off Nike. So yea I did hear it straight from the source right here at HB. Ps Wendy told me to tell you Chris not to forget to mop the floor tonight in PC thats why they pay me a lil more then $11 an hour! In Bob we don’t trust! Or is this a pump and dumb scheme? Get back at me in February when I tell ya I told you so!
Truly Yours,
The Quikie Employees
January 29th, 2009 at 11:04 pm
Ken Block and Damon Way are not potential buyers because they sold for $87 milion in 2004. Since that time Ken has successfully piloted his brand as brand manager to a brand value of roughly $800 million much more then what him and Damon were paid. Which I should mention, it was a cash and stock combination option, so Bob has let them down too because their stock is down 80% as well. (http://www.accessmylibrary.com/coms2/summary_0286-7680097_ITM) I think personally that Bob should be replaced with Ken with his proven track record for growth and brand integrity. Damon has left and is heavily involved at “Incase” which is his priority. You guys are like cattle at the slaughter house, at the end of the day you all end up as dead meat; regardless of your pecking order. Maybe instead of cutting 200 jobs, reducing our hours, and cutting this so called fat starting at the bottom; which I might add is actually the backbone of our company and the people that make this brand we could have looked elsewhere. How many more millions does Bob need to stack away?
January 29th, 2009 at 11:05 pm
You think Bob took that 16% pay cut before he screwed over my friends and family? No he only did that last as a last resort when a lot of this loss could have been avoided. (This should have been done first rather then screwing the little people; I mean hell what’s the few thousand Bob pays me compared to the millions he puts away) If you guys want to sit around and listen to more emails from Carol Scherman and Dewey sent on Bob’s behalf because he is to busy out surfing with Kelly about how we should join hands and sing kumbaya my lord and wish this thing away then go ahead and be my guest. My stock, Ken and even Damons too would be at least $7 per share instead of $2 if Bob just did the right thing and sold DC.( http://www.latimes.com/business/la-fi-nike27-2009jan27,0,4364267.story )
January 29th, 2009 at 11:06 pm
) He would be doing DC and all of us invested employees a huge favor and would rebound this stock he has driven into the ground. Maybe we can even take a hint from Illinois and vote Bob out too. Thats fine say what you guys want but let me give you guys a heads up VF is hiring, denial and ignorance must be bliss especially at a time like this. Stick a fork in it this company its done, DC bought by VF, wait until after SIA. Then we’ll see if Quik can fend off Nike. So yea I did hear it straight from the source right here at HB. Ps Wendy told me to tell you Chris not to forget to mop the floor tonight in PC thats why they pay me a lil more then $11 an hour! In Bob we don’t trust! Or is this a pump and dumb scheme? Get back at me in February when I tell ya I told you so! No wonder Madoff was able to screw so many people because you guys will believe anything corporate tells you!
Truly Yours,
The Quikie Employees
January 29th, 2009 at 11:07 pm
Wow dog you musta been one of the 200 people that got laid off or maybe have some personal problems with Double D and Bob cause you obviously have some big problems with Quik. Yeah that is in fact what I was talking about actually my bad I forgot that it was a town meeting. Does that mean the things that were said in it aren’t true? I mean if you’re one of those people that turn everything into conspiracy theories which it sounds to me like you are, then we have no conversation here because no matter what anyone tells you you will always make something negative out of it. But I’m not going to jump to conclusions or make false accusations or anything like a few people on here have. I back up my claims with facts, facts which you ironically supplied. You back up your claims with opinions and more claims. But I guess you’re not all bad. Every business, every industry, is going through tough times right now, and criticism and multiple opinions are things that help people realize their mistakes. I don’t talk shit on Quik cause in the year that I’ve been here I’ve met some f**king amazing people. If any of you know G Mooney or Middleton from PC than you know what I’m talking about.
January 29th, 2009 at 11:08 pm
I know EVERYTHING and am not posting on a thread out my ass, but when Bob throws you under the bus it wasn’t because you had your blinders on anymore.
January 29th, 2009 at 11:16 pm
Yeah man it sounds like you know everything. I can tell you know a lot more about this company than me so I’m not going to try and argue with you. I’m just voicing my opinion. However uninformed it is. But did you really need to go to personal attacks like that about wages n shit? Come on man. $11 aint so bad for a college kid in these hard times. Lighten up Quickie
January 29th, 2009 at 11:33 pm
Naw dwag I haven’t been laid off (yet)I’m still here at HB but how much carnage do I have to witness before I make a suggestion as to what a company should do. What’s that tell you when your own people begin to question the motives of the idiots appointed as our bosses. I don’t blame you little guys instead its our incompetent fearless leaders fueled by greed. I’m not ignorant and I know this company forwards and backwards I’m only hinting at what I already know and what I believe would be the cure all for all of this stupidity. Bob sells DC then gracefully steps down, we don’t need another shitty deal that hurts more little people; while the fat cats suffer almost no repercussions of their foolish decisions as we pay their tab for them.
January 29th, 2009 at 11:42 pm
Unfortunately thats how every corporation eventually ends up. Agreed on that one
January 30th, 2009 at 8:14 am
if you hate the company that much show some sack and leave. Why work for a company that you do not believe in. you are probably one of the many at the company who have no salt water in their blood anyway and should have been on the list. many really great people got let go and that is a sad thing. sometimes business is that way and hard choices have to be made. it is to bad that people that like you sit back and take the pay check and then throw crap on the guys that sign your check. if you do not like the company or brand then leave.
January 30th, 2009 at 8:23 am
Right on Havealife !
Quikie , get outta the way and let someone have your job that wants to be there , you are part of the problem !
January 30th, 2009 at 9:14 am
What a bunch of CRAP!
If you would read, you would know that Quik has hired Morgan Stanley to advise them. No deal has been done or it would have been announced, thats how it works with public companies. You cant do a deal and keep it a secret… So as it stands, no deal for Quik inc. no deal for Roxy, no deal for Mervin, No deal for DC!
As for the leadership at Quik: It would have been impossible to deal with the mismanagement of Rossignol and handle the current economic meltdown at the same time. Not sure if any CEO could have come out of this unscathed. Many good people have left and will be replaced by new people charged to do a good job as well. Change is good, and it was time.
If all the people posting on here knew what they claimed to know, they would have all bought stock and made tons of cash on the fluctuation and rumor mill.
One thing for sure is that Quik inc and its companies will not be the same going forward. Either they restructure and run leaner and healthier, or they sell some assets and get leaner and healthier. Something will change and the only way to know is to wait until it is announced as I seriously doubt that anyone who posts on this blog has ANY personal knowledge or insight into the internal dealings of Quik inc. and its advisor Morgan Stanley.
There are hundreds of people working at Quik and more at DC and Mervin. All these rumors do is freak those people out and put them through unnecessary stress. Think about being a good human being and not writing something that you have no real knowledge of.
Ask yourself what you really know vs. what you think you know or what some one told you. The only way to KNOW is to be in that conversation, and I KNOW for a fact that NOBODY posting here is in that small circle of people making decisions for Quik inc.
Watch it play out.
January 30th, 2009 at 9:41 am
You would think someone as smart as you would know how to spell TOTALLY ! So i guess that makes you human too and not the guru you think you are , people post on these things instead of going down to whatever company they used to work for and going postal or ramming a car into someone who cuts them off and besides , hey are not around the watercooler anymore , this is where they get to vent . So maybe you should be a little less self righteous and a little human yourself hotshot !
January 30th, 2009 at 9:45 am
*** Sorry mispelled They , i’m human too . How do you know that nobody on this thread is on the inside , the only way would be if you are on the inside and you just posted so you can’t be ….see how it works !
January 30th, 2009 at 10:00 am
A billion dollars in debit? Refinancing short term debit to long term debit? So delay the inevitable is what you are telling us? Thats like taking out another credit card when you can’t pay off another one. Solid plan. Quik is more retarded then I thought, Quikie 1, 2, 3, etc. knows something, and not only that but presents a strong case. I too would be heated if i was lead to the gallows like that by my employer. I think its time our industry considered accountability and the people that got us into the mess get let go, not the other way around. In the meanwhile it looks as if Quik has got a mole, I’ve enjoyed reading the posts and those views and appreciate the straightforwardness of them.
January 30th, 2009 at 4:32 pm
ok so if you think about it REALLY hard and this is being said as a boardsports enthusiast not as an employee, which company led the way for major surf, skate, and snow culture? Quik! Honestly if it wasnt for them Matix, D.C., Hurley, Billabong may not exist or exist in the way they do now. all those companies including quik were once considered pretty CORE but now they are on the backs of everyone from a 6 month old baby to the skate/surf/board/ski rat in the hall to the frat bro in the gym to the dad in the office. and i think quik deserves so serious credit for that. ya some may say they sold out but im gonna say they bought in the saw a market and got in saw a bigger one and again got in the roots are always the same and they are proud of them, quik has come back from some crazy things it can happen again why dont you just hate yourself for helping the U.S.A. in DEBT because EVERYone is responsiple in some way or another it is not soley one mans fault for this companies problems or this countrys its everyones, buy more quik and affiliates rather then outsourcing your own company and if you work at corporate like your claiming then talk to the designers set em strraight if you hate their shit rater then talk shit fix the problem cause talking just makes it worse and its weird fro me to write this cause i HATE on anything and everything here at my level but my attitude is changing over the past few weeks there are people out there who jsut lost jobs they loved and you hate yours and still have it kinda messed up ya? thought so. so stop hating please and thank you.
January 30th, 2009 at 6:01 pm
Debit is closely tied to liquidity and sadly production was not yielded at the same rate as theirs sales were reduced business to business. Therefore it cannot be argued that ZQK is sitting on a lot of inventory that isn’t going anywhere which eventually has to be written off somehow hence why the losses haven’t peaked just yet. the worse is ahead of us, its not until something is done about that dead inventory that things can get turned around. This we know, so while that town hall meeting was comforting it didn’t really illustrate a plan about turning that product around or announce any real plan. It was only an acknowledgment that we have a problem, which is only the first step. I don’t know why people are getting frustrated with others frustrations. I think the argument about the athletes is irrelevant because money talks and those guys will wear whatever logo pays them the most. Maybe thats half the problem is a slew of overpaid athletes that doesn’t necessarily translate into numbers. Tonk Hawk is a fossil he sold his clothing brand rights to ZQK yet his shoe brand rights to K2 so what’s that tell us? Athletes and endorsements doesn’t reflected a solid company it just means a company that maybe out of control with their payroll and their priorities, Athletes looks out for their own ass not a brand. Look at the Phoenix Suns, they paid how much to assemble that team and did they get better?No! Rethink where you spend your money and anticipate. Burton had one of the greatest teams ever yet cut those guys based on their names not adding to brand value time to reevaluate like Uncle Jake did up in Vermont.
January 30th, 2009 at 6:15 pm
“buy more quik and affiliates rather then outsourcing your own company and if you work at corporate like your claiming then talk to the designers set em strraight if you hate their shit rater then talk shit fix the problem cause talking just makes it worse.” -R2TJ
Ok in order to make it here in America then I need lower cost of production, R2TJ I need you to be willing to do the work you do now for half of what you get paid now. Not willing to do it? Well there is your problem, and since when did an open format of talk ever make things worse? Thats productivity at least somebody aired the dirty laundry and the skeletons are out of the closet. Now rebuilding can take place. I think you are all acting cowardly and thats because people aren’t talking and just rumors are flying. Its Americas greed and everyone’s sense of entitlement that has lead to this no one owes anyone shit. So I’m confused “talk to the designers fix the problem but talking makes it worse?” I see its as clear as mud to me now….
January 30th, 2009 at 6:56 pm
Isn’t this free forum (a therapy of sorts) good for us all? I want to take a moment to truly thank TRANSWORLD BUSINESS for giving us the opportunity to vent.
January 30th, 2009 at 7:08 pm
I think a lot of comments on this message board hit the nail on the head when it comes to the useless people at Quik.
http://business.transworld.net/2009/01/26/quiksilver-eliminates-200-job-positions/
January 30th, 2009 at 7:18 pm
please? so typical Australian ego and Orange County Fratboys trying to run an industry. Who cares?! I hear enough kiss assing on Bob, Bob is the reason Quik is in this position. He appointed Bernard, he is high to think he is ?going to keep it in the family?. This is wall street not Main Street, HB? Wall Street wants their cash and Bob is starting to have little say on who buys DC, Quik or Roxy. If Bob Hurley can sell to Nike when all his employees were saying he would never sell to Nike. History always repeats itself, especially in the surf industry because it?s been driven by money and ego since the beginning. OC doesn?t have the aloha spirit and it never will? good by Quik. Hello? Dane signing with Hollister
January 30th, 2009 at 7:20 pm
Didn’t gmoney quit up in pc?
January 30th, 2009 at 8:34 pm
They let Scott Farnsworth go who was one of the only guys that could actually surf decent besides the team managers and lower level marketing guys. What a joke. A true surf company should have true surfers that are above average. Steve Tully? Greg Macias? Almost every director there can even turn? What a joke.
Hollister would win in a contest against the dudes at Quik. (no joke)
Classic that they say so many things about non-endemic companies not being core? What a joke.
Get some new young guys that can surf and know business before it is too late to help turn the company around.
That being said I think it is a good time to buy the stock.
January 30th, 2009 at 8:48 pm
Its all a facade. They pretend to surf and now that fixies are so hot maybe all the corp guys will jump on that trend too and pretend to be really into that so long as it remains profitable.
January 31st, 2009 at 6:33 am
That posters who say they work at Quik HQ in HB are telling us they are proud of the company but fearful of the current direction and the future. They are getting pushback from co. outsiders who hope (HOPE) that things are better than that.
It’s natural not to want to hear bad stuff. Growth and progress are the normal order. So some people won’t give proper weight to negative information even when it is objective and factual.
I do not know whether DC Shoe is going to be sold at a valuation that alleviates Quiksilver’s debt problem or not. I do not know whether there will be a bid for the whole company that gives common shareholders any take-over premium above the current share price.
No one knows these things. That’s why ZQK shares are valued where they are.But there are a few things I think I know.
One is that when people who work for a company tell you it’s not going well, it’s probably not a sinister plot to scoop up your shares on the cheap, and you should listen.
Another is that time and gravity are on the side of Nike, VF, or others who might want to acquire the brands or the whole company. Unless Quik sells DC for a high price, or otherwise find a way to get its debt down, or gets saved by a miracle recovery in credit markets, or persuades Congress that the Surf & Skate industry is a vital national asset that requires a rescue, it has a tough debt problem, valuable brands or no. Prospective buyers just cross their arms and wait.
Another is that the Quiksilver, Roxy, and DC brands are hugely valuable, but financial distress makes it hard for ZQK to capitalize on these values. Distress and pressure will tend to wear the company down and put it in a harder negotiating position.
No law says a takeover has to happen at a premium. A take-over that happens at less than the previous market price is called a take-under by the funny people, and they happen all the time:
1) Fiat just bid for 35% of Chrysler for no cash consideration and option to buy the rest for $25 million. Million? Are you kidding me?
2) Would you say the guys who bought Rossignol from Quik took it over, or took it under?
3) AIG. Tragic story. When Uncle Sam saved it from bankruptcy, they effectively took it under.
I want everyone to make money and have a good life. All the best.
January 31st, 2009 at 8:41 am
Change!!!!!!!!!!!!!! Change is coming!!!! OMG now that Obama is in! Change!!!!! Yes we can… Bob McKnight is like the George Bush of politics. Ignorant, in denial, arrogant, and simply put a terrible leader. Change this company and turn it around with a new CEO. Bob get bent. This company was going under even before the economy tanked, all that does is provide a smokescreen. Now Bob can blame his problems on a weak market when in reality Quik was going that way regardless of our current state good job Bob on another case of bullshit, well done!
January 31st, 2009 at 10:22 am
the knower is the blower
January 31st, 2009 at 11:12 am
markfitzy was a bit ditzy cause you see anybody with the name mark must surely be in the dark must have quik stock so now hes got skid marks all in his drawers
January 31st, 2009 at 11:23 am
Does anyone know what happend to the guy from Disney,Gap & guess who came in and totally turned Quik Mens into a gay “fashion” brand? He prided himself in Launching the “women’s” line that is pretentious garbage! I hope he was the first to go! and his brood of VP’s he promoted, the ones really really good at kissing ass.
January 31st, 2009 at 12:41 pm
“Here at Quiksilver we don’t pride ourselves on talent and cherish skill. We just want the ones that will kiss our ass the most and make us feel better about our current situation never mind your designs and ambitions do you have a brown nose? Thats what the recruiters want to know. Realist need not apply…”
January 31st, 2009 at 1:33 pm
D.H. - Stop making sense !
January 31st, 2009 at 2:16 pm
Love the Heads. Feeling more “Life During Wartime” now, though.
January 31st, 2009 at 2:36 pm
True that ; it’s definately no longer a ” party , disco or foolin’ around!” Maybe disco skates and Makaha Street skates will come back and save all ! Just got to get Brad and Angi in a pair, right!
January 31st, 2009 at 5:48 pm
Quikie 7, xllnt comment! A chick I knew (when I worked there) at HQ, boinked and teabagged her way up to a director position at Quik! Talk about “brownosing”! She’s still there. Hmmm, I wonder why? DUH! I guess she’s one of the “talented” and “skilled” ones you are refering to.
January 31st, 2009 at 5:48 pm
Yet again Quikie, you have no saltwater in your veins and are part of the problem. Can’t you see, many of the kiss asses are gone, sure there are some left and I would imagine that they will not be far behind. With all the hate for the company and management it is to bad that you made the cut and still have a job. Do all of us a favor man up and resign.
January 31st, 2009 at 7:02 pm
Just in Uniqlo wants quick and all brands for $7 dollars a share and now Nike is rebidding. Prior to this they were toast as VF is underbidding for just DC.
This should help. Get some quik stock while you can my friends.
January 31st, 2009 at 8:44 pm
I wish that comes to pass. We need some animal spirits to come back, somebody to step up and say “this means opportunity right here, right now.”
While I’m wishing for stuff, I wish one of the Chinese retailers would take over PacSun. That would shake things up! Too bad the Chinese have lost their pants on every investment they made here over the last two years; now they don’t dare.
Those things, better markets, prosperity, world peace, and me to be heavyweight champ of the world. OK that’s enough wishes for now.
January 31st, 2009 at 10:13 pm
Revolt,
Yea Erik the disney, guess, gap, gay guy is still here at Quik. Check @ Linkedin.com for his resume its listed on there. It states it took him two years to launch that women’s line. I posted the link to it and Transworld removed it! Censuring message boards? So much for freedom of speech! If you check Linkedin.com even good old BOB McKnight is on there too whats that tell you when the CEO has got his resume out and posted online? Ps havealife did your mom make you quit your job at McDonalds because you got in a fight with Ronald? I’m sure you’ve had a boss you’ve hated and grinned and bared it, a check is a check even if its signed by somebody with a lobotomy. I get paid to do my job, which I excel at not offer therapy to you a cheerleader, your just some sort of brand whore of some sort and need a good dose of reality. Salt this salt that, there maybe a promising career for you at Morton’s after all this or at Sea World in SD with the other dolphins.
February 1st, 2009 at 7:32 am
So should I buy stock on Monday at $2 and expect it to go to $4 or wait until it goes back to under $1???
February 1st, 2009 at 8:33 am
Buy low , sell high ! It’s easy .
February 1st, 2009 at 8:50 am
It will go up trust me,
How about BJ Penn getting is arse beat down after all that shit talking he was doing. RVCA made a bad move as that was the worst exposure ever. People despise BJ and that will lead to negative thoughts of RVCA. Risky move but it back fired.
February 1st, 2009 at 10:11 am
Ah yes No Surfers , BUT , can BJ do a proper turn ?
February 1st, 2009 at 10:14 am
I don’t even know where to begin to analyze you DUN , aw F#$% it , have fun !
February 1st, 2009 at 4:33 pm
Geesh Dun you got a bad stutter going, if your dog is in such urgent need in that area, I suggest you do it yourself…or maybe that’s where you got the stutter.
RE the real subject, QS. Can I say it comes down to two key things they are missing and have been missing for too long.
The first is the Founders, yep the 2 ozzies that gave birth to QS are long gone as far as having any direction as to what the brand was about.
Secondly they were Ozzies and just like the other big surf brands, Rip, Bong came from and still are Ozzie run with founders intact. Even Hurley had it’s core from Bong and the Ozzie style and I believe Volcom some what the same. Then look at board design, short board revolution of Nat and Mctavish, the twin fin with MR etc, the Thruster with Simon..all Ozzies and not West Coast USA/HB try hards who never leave their backyard to take onthe true global markets and carve out their own brand with the passion that only a founder/owner can have.
February 2nd, 2009 at 8:47 am
wrong - he left before the Holidays - just hasn’t updated LinkedIn
February 2nd, 2009 at 9:02 am
I heard he is in Indo ripping , oh well , what’s a boy to do ?
February 2nd, 2009 at 9:33 am
what happened to all his side kicks? all those idiots he promoted to VP? Susie Ecker? Guy Channin?
February 2nd, 2009 at 9:37 am
Who do think is lathering his lotion on before a shred sesh ?
February 2nd, 2009 at 10:28 am
HA! Anonymous… Your Awesome. That really made my day! I like it when I can still laugh at myself.
February 2nd, 2009 at 10:46 am
So much talk about “who” is getting canned at Quik! But no one is posting who is still there and what departments/divisions are still operating at HQ, or which ones were eliminated. Anyone know if they started closing down their retail stores yet? That dun dude has some serious anger issues with Quik, jeez! My bud is hanging on by a shoestring there at the HQ. Man, that must be an awful way to live/work with the agonizing feeling that maybe, just maybe, you may be gone by midday or at the end of the day or week. Ugh.
February 2nd, 2009 at 10:55 am
OMG! I hope those really funny and super cool chicks that work at the merchandising division at the Quik headquarters aren’t let go! Awww. They are so nice and funny as can be. They know how to party too!
:)
February 2nd, 2009 at 11:05 am
Great point, M8.
Unfortunately, you forgot a few things:
1. Australia was founded by the robbers, thieves and murders dumped off by Britain and other EU countries. It was considered Death Row with a view of right hand point breaks. Lucky criminals.
2. This ain’t Australia (even though most Ozzies think they own the world and therefore the UNITED STATES OF AMERICA is in turn, part of what they own).
3. If an Ozzie ever stopped drinking for long enough to realize that they are not the center of the surf world, maybe they could actually raise the value of their dollar or win back to back titles.
4. Volcom, Hurley and Billabong USA are not affiliated with Australia. In the case of Billabong (Which was founded in Oz), a Licensing Agreement fulfilled by a South African, named Paul Naude’ is a completely separate business in the USA.
5. Rip Curl USA is a burning airline headed for a flat pond. Ozzie pride lit the match on that plane while trying to consume a “Flaming Dr. Pepper with a double beer-back”
6. Although currently bloated and sedated, the USA will rise again and we will do it with AMERICAN PRODUCTS made in AMERICA.
You can MARK my words on that one.
In the mean time, please take back the following:
1. PT
2. Rythem Brand
3. Sabre
4. Odessyee 20/20 (WTF?)
5. Fosters (piss poor excuse for lager)
6. Rip Curl retail stores (accept the outlet, ’cause we can buy yer China made shit really cheap)
7. Cult Brand
We will keep Insight, ’cause Jesse is cool and surfs really good. We will also take Parko.
Bugger off, otherwise.
February 2nd, 2009 at 12:38 pm
Hey fitzy… Hang on mate we (aussies) are not all like KarmaMate who posted that comment… the guy is so wrong, he just confirmed how out of the loop he really is, the original owners/founders are stoked with the money they received thru USA licensees … Bob and teams hard work, no regrets! Huge Royalties poured in for years and then the bigger sell earlier this decade for the balance territories, without the efforts of the QS USA there would be an under funded B grade QS maybe still operating in Australia who knows? As far as Billabong is concerned without Bob Hurley back in the day Billabong Australia would have had nothing to copy for the market in Au. Bob Hurley’s team of designers back then took Billabong from a discount version of QS in Au to a quality diverse product line up. Again without the BB USA influence BB Au would have struggled, no doubt about it, any Aussie product developer in the 90’s will tell you with out the big boxes of cool shit coming from the USA every season 3 to 4 times per year, the brands were on stuggle street. Sorry Karmamate but I don’t think you really knew how it was in the earlier days, hope this brings you up to date.
February 2nd, 2009 at 1:03 pm
Oi ! and Kelly,Petri and Harv’s have turned Rip Curl into a major world player in 3 years after the Aussie’s bungled it for 3 decades mate ! good on ya Croc ! Obviously Karma’s not been down unda fer a spell .
Agree on Nat and Mac but M.R. got the twinnie from Reno who got it from Lis and Hayward refined it to the Rocket fish, so on and so forth , Simon did do the thruster righty right but even he don’t claim the 1st. 3 fin set up that worked , that mate is the Campbell bro’s. Bonzer , ironically named after a Aussie word . It’s all tit’s mate but let’s not get what little history we have mangled in this mess too.
February 2nd, 2009 at 1:10 pm
RIP CURL DID NOT REALLY GET MAJOR UNTIL PAUL HARVEY GOT THERE , THAT GUY IS THE SHIT !When he comes in our store we all get a shitload of free shit man , even our posse gets the shit man , he’s awsome !He takes us to the food court for heavy grinds too ! He should be running it worldwide bro !
February 2nd, 2009 at 3:52 pm
re ; twinnie , lis , reno , hayward who took que’s from simmons , before the purist get after me , Reno actually had a Brewer 3 fin too but it was 1 plus 2 set up. Even Pagey was wrong when he said ” no one rides a twinnie at Pipe Kane ” Corky Carroll did it in 1970.
February 2nd, 2009 at 3:57 pm
We love Paul Harvey from Rip Curl ! ! ! he’s so cute and funny ! He gives us free stuff too ! We love you Paul , oh yes we do !j/k
February 2nd, 2009 at 5:04 pm
Geez I just love fishin. Put a bit ‘ol bait out and …wham their on the line.
I actually forgot to use the South African bait with Nuade, the Thompsons and the countless others behind the other brands. OH and lets not forget that fresh Brazillian bait that started Reef and spawned the whole surf footwear boom.
Bustin down the Door is just a fiction dreamed up by some crazy ozzie and Sth African kooks who finally realized America is the place to strike oil..altogether now lets sing along…..”so the packed up the truck and headed for the hills, Beverly hills that is, swimmin pools and movie stars”
Are we havin fun yet?
February 2nd, 2009 at 5:23 pm
Karma M8 has reduced and compared the US Surf industry to some country bumpkins. Way to go, kook! Aren’t there some .au web links you can go dump your fodder in?
February 2nd, 2009 at 5:29 pm
Sorry Karma , wrong again , Fernando and Santiago are not Brazilian , Venezeualan (sp), i think ? Naude’ not “Nuade” , Tomson not “Thompson” . On Bustin’Down the Door , M8 you just proved your a yank to the core , careful impersonating an Aussie Your Karma might just catch up with ya M8 , now bugger off ya poofta !
February 2nd, 2009 at 5:37 pm
I think this KARMA M8 might be an imposter all together . Karma M8 usually has some good intel ? Let’s get back to kickin’ Quik and saying how great Rip Curl is now that Kelly and Harvey are there .
February 2nd, 2009 at 6:46 pm
Waddabout the stock I bought this Morning for $2.00 and it went DOWN!
You promised waaaaa.
February 2nd, 2009 at 6:58 pm
double down dude !
February 2nd, 2009 at 7:08 pm
Thanks oi for the spelling and geography lesson, you are right, so apologies to Fernando, Santiago and of course Paul, Shaun and Michael. I have my dunce hat on and am writing out 5oo times all their names. The point, however, was they are not Americans. Agreed?
Their is a word that may help you “get it” re my Bustin down the door B8,M8. It is, Sarcasm. Yes, I know, it should only be used in emergencies and not around children or the ignorant, so sorry to do that to you oi.
On you much appreciated parting attempt at Aussie slang, culturally speaking, you should have used the more hurtful expression…”Awe piss off.. ya flamin poofta” as “bugger off’ is a lot more an endearing phrase and lacks H8, M8.
underDUN’s suggestion of “let’s get back to kickin’ Quik” might suit you better as you can all have a good time bashing the Americans who you all seem to credit for Quik’s rise and now demise.
Start running Bob the Posse are all armed and ready to hang you high. Meanwhile those foriegners who Founded and manage every other surf brand, watch from the rim of the canyon,probably with a slab of Fosters in the eskie.
February 2nd, 2009 at 7:29 pm
I’m hip to Bugger off poof, poofter or mullet for mates , and i ain’t H8in’ M8 ,and would’nt piss in yer pocket , i actually thought it was someone using your AKA. I do agree they are not American but Michael is getting pretty damn close and that was with love and respect for M.T. too !
February 2nd, 2009 at 7:56 pm
Oi let you off lightly there Karma M8 , everyone knows Sarcasm is an ugly substitute for intelligent insight. Try for profound not mean , it will ring truer and be less damaging to your own self esteem as well. Just like gossip , we feel our own sarcasm’s bite much more than the intended audience or the intended victim. Now then , piss off homo !
February 2nd, 2009 at 9:00 pm
Is Paul Harvey an aussie , he should be running the whole farkin’ yhing !
February 2nd, 2009 at 11:43 pm
The bigger the risk, the bigger the pay out… Just wait, you’ll see, when they sell DC were gonna be makin it rain with Dyrdek money. Like takin candy from a baby its easy and from McKnight even easier.
February 3rd, 2009 at 2:13 am
Rumor is that VF inked the deal to purchase DC on Monday. It looks like Quik is back in the game and ready for the long road ahead.
February 3rd, 2009 at 6:40 am
Ture, but the Nike booth at SIA was a dead, even if their stuff is dope. Theire presence at SIA was nothing compared to DC or even quik for that matter. But still don’t think these guys want to get into hard goods, the money isn’t there, the margins are crap and in a retail enviroment like we have it would be a bad move. think about it how long would it take VF or Nike to get back 800 mil in this enviroment? Forever. In the end DC could end up being a albatros around their neck just like Rossi was for quik. And if this recession keeps up for a long time, which most are say is the case, we could see the same story play out with any of the prospective buyers in the near future.
February 3rd, 2009 at 10:59 am
^ sounds good to me! now whens the press release come out!!
February 3rd, 2009 at 8:36 pm
do us all a favor and quit!!!! If you think those ladies are cool, nice, and funny your probably just as worthless as them. Companies aren’t ran on how hard you can party….oh wait i forgot you were talking about quiksilver!
February 4th, 2009 at 7:57 pm
Paur Halvey is rike Srater in sares. He can sare anysing. He is a bit rike a modern day Jun Jo. Dat guy should be plesident of SIMA. He can do it. He got big American DLEAM!
Mr. Kazuki Son
February 4th, 2009 at 8:17 pm
i hear paul harvey san buy Quiksilver , that is good , he turn it around , make many promises , make people happy , happy , until next day when he no keep promises , he tell us , no budget , then he give to shop across street .
February 4th, 2009 at 8:44 pm
Paul Harvey is a cool dude but giving a bunch of stuff away isn;t always great for biz, Rip Curl will be toast in a few years, Kelly seems like a good guy and a good surfer but I heard he has not leadership skills. However anything is better then Toby Bost who can’t even surf and he represents some of our top brands–what a joke this industry is. I’m rooting for hollister, H and M and others to take the marketshare until these companies hire guys that can surf.
Quik did sell DC it will be announced next monday so buy the stock while you can!!!
I like the piece on getting rid of everything ozzie,
PT<
Rythm
Cult
20?20
etc
Most of our industry is ran by foreigners. What a joke,
Buy hollister or american eagle if you want to support americans and people that can surf,
February 6th, 2009 at 12:44 am
Yo “Anonymous | 0 Props | 2009-01-29 12:38:57″, grow a fucking sack you fuckbag and post your name so other creepy ass kids can look you up on facebook. You are such a pussy. You googled chris proctor? Wow, you don’t have anything else to do besides try to make retarded arguments and look up people that have posted comments on facebook? Fuck you you dumb ass piece shit. Look me up and give me a call bitch!
February 6th, 2009 at 6:43 am
Whenn the stock gonna go up?
February 6th, 2009 at 12:58 pm
Where is the Quik sells DC announcement? maybe its all a bunch of crap!
February 6th, 2009 at 3:17 pm
I think its a lot more complicated then VF just presenting a Check to Quik. Its been awhile since I’ve had 800 million wired into my Wells Fargo Account but I imagine it takes a few weeks. You have to secure financing and then transfer it which doesn’t happen over night especially at that amount. Once they get paid in full the announcement will be made. Duh…
February 6th, 2009 at 6:16 pm
What happens to the stock if it’s only 400mil for DC?
Are all the insiders gonna dump stock the before the official announcement or buy more and expect it to go up like a rocket?
February 6th, 2009 at 7:57 pm
There are no insiders posting on this message board. Unless you are on the board of Quik, or Bobs wife, you don’t know what is going to happen. You might have heard something from someone who says they know but lets be honest, its all speculation at this point. Even a company who made an offer wont know unless its accepted, and when that happens, we will all know in minutes. There’s no deal.
If there was a deal it would have been announced. The money does not have to be in Quiks bank to announce a deal. The finance company doing the deal for Quiksilver would have pre-qualified any potential buyer to know that they had the ability to make good on the offer. If there was a deal it would have been announced. There’s no deal.
As for the stock price: why dump Quik Stock? Its low and if they got 400 mil for DC than they would use the money to pay down debt and run Quik/Roxy. If they actually decide to sell DC it would be so that Quik could have a better future and raise the stock price. There have to be a lot of motivated people at Quik with options that are underwater or that own stock at last years price that will work hard to raise their stock price. Even at 400 mil it gives them a chance.
There’s no deal.
February 6th, 2009 at 8:23 pm
Deal or no Deal-
I follow your reasoning here but what’s the right price to buy now and what’s your idea of a price to sell if there’s a move upwards if the ‘deal’ gets announced?
Today it was lurking just under $2. If no deal gets announced next week do ya think it’ll go bak under $1.00??
Lousy SE wind today too.
February 6th, 2009 at 8:56 pm
useless “Suzie” Ecker and Guy “suck-up” Channin are still at Quik they both survived the cuts. Of all the people to get rid of these two are the worst $$$ wasters in the bunch say goodbuy to your profits Mcknight, these clowns have no idea what they’re doing
February 6th, 2009 at 8:58 pm
useless ?Suzie? Ecker and Guy ?suck-up? Channin are still at Quik they both survived the cuts. Of all the people to get rid of these two are the worst $$$ wasters in the bunch say goodbuy to your profits Mcknight, these clowns have no idea what they?re doing
February 6th, 2009 at 9:22 pm
Damn da ding dong damn ! TWS , What’s the record time for a thread running . This baby is what , 11 days old ? ! That’s longer than the haters were giving Quik ! Obviously someone out there is interested in Quik , you pay no attention to that what does have an emotional connection.
February 6th, 2009 at 11:29 pm
Deal or no Deal- nice, reasonable post. I agree mostly. The potential sale of DC is a sticky situation. If sold, the likelihood of Quik surviving this downturn from its debt payments would be secured. On the flip side, Quik gets 30% of revenues from DC, and it’s the fast growing brand they own. Quiksilver’s growth and future prospects for the stock beyond an initial jump would be hampered with a DC sale.
new money- Any sale of DC over 300 million I think is likely to be very good news for Quiksilver stock. The recent trading range of 1.00-2.00 is very depressed due to the uncertainty of Quiksilver’s debt situation. If Quik didn’t have any debt on their books a more justified stock price would be around $4.00, reflecting retail market fundamentals. If Quik sells off DC, I think $3.00 at least is in the cards for the stock. If no deal is announced in the coming weeks, I think the stock will hold $1.80 level regardless. Quik has also said it expects to complete some debt restricting some time in February, news that could be a catalyst to keep the stock above $2.00.
Lastly, people I have no idea where you are getting this notion that DC is worth 700-800 million. That is an extremely high multiple of earnings in this environment. DC has annual revenues of 475 million, lets take a 10% margin on that, and we get 47.5 million. This company has good growth, but its not a 15 multiple growth! Quik can sell DC right now for 5-8 multiple. Unless anyone thinks DC is churning margins better than 15%- is the shoe business that profitable?
February 7th, 2009 at 10:39 am
This is the longest thread I have seen in a while and entertaining from start to finish. If VF do buy DC I think it will fit in well with Vans and Reef only if they don’t lose sight of the brand identities of each. If they begin to blur each loses out.
I think its apparent Quik talked to a few people about various options of sale but a valuation of $800 million is way over priced. $800 million is in the region of Vans current global sales (VF bought them for $376 million in 2004).
Much more likely is that VF wants to buy and Quik wants to sell but the sales price will stop the transaction for now.
February 7th, 2009 at 1:06 pm
European dude,
What’s your guess for Quik stock next week if no announcement of sale?
Or if sale is announced, will it hit $3.00?
Or will it go back to $1.00?
Or will it hover at $1.90?
Will the SE wind in Cali stop?
February 7th, 2009 at 8:56 pm
DUN’S Black dod say’s buy low , sell high and scratch a little to the left nut !
February 8th, 2009 at 9:44 pm
what a disgusting thing to say - sounds like you are someone who doesn’t really have a clue about business - which this is
February 8th, 2009 at 9:52 pm
awright ! ocdemgal keepin’ the thread alive !
February 9th, 2009 at 12:26 am
“Comment by No Surfers (ones that can turn) @ Quik | 0 Props | 2009-02-04 20:44:14
0
2009-02-04 20:44:14
Quik did sell DC it will be announced next monday so buy the stock while you can!!!”
So yeah, I’m waiting for this tomorrow, ya THINK IT WILL HAPPEN?!!? :/
February 9th, 2009 at 1:13 am
Newmoney
either way if you have stock I’d keep it. Sounds like you’re running at a loss so your best hope is the sale goes through.
If the sale goes through you’ll see a short term hop in price as the business world will believe Quik will survive as their debt will be reduced. Don’t expect long term growth until Quik show how they’ll replace the DC business which was their star performer over the last two years.
If the sale doesn’t go through the stock will go down until Quik do something, they’ll either announce they’ve refinanced their debt (and the stock will go up) or they’ll announce they’ll have to sell the whole company.
I think Quik obviously want to keep DC and refinance the debt, but if I worked for a bank I’d tell them sell DC then I’ll refinance your remaining debt. The question still is how much are Quik holding out for.
Something has to give and it’ll be by the end of this month. Quik simply cannot afford to do announce nothing
February 9th, 2009 at 1:17 am
fuck quik
February 9th, 2009 at 1:20 am
SHIT
February 9th, 2009 at 1:21 am
DICK
February 10th, 2009 at 8:15 am
Tuesday-
Quik is tanking-bail out!
February 10th, 2009 at 8:22 am
it just ticks me off to read some posters on here ‘name names’ of folks who are really working hard for Quik and handling more real work then the poster will ever do in their lifetime
yes, it would be nice to have more great surfers/snowboarders/skaters WORKING at the company - IF they can contribute some real business know-how. Otherwise, sign up as a rider and leave the running of business (including design) to professionals
February 10th, 2009 at 8:34 am
Dude, where’s my DC deal, man?
February 10th, 2009 at 9:56 am
Even if they don’t sell DC it is still a good buy,
Once they restructure their debt it will be a 4 dollar stock. Buy while you can asap,
February 10th, 2009 at 10:06 am
TWS ! 2 WEEKS WITH A POST EVERYDAY , WHATS THE RECORD , DON’T TELL ME QUIK IS NOT VITAL TO THE ASI !
February 10th, 2009 at 10:58 am
Some of the postings on this thread are just straight stupid. Most seem to come from people who are too bitter or uninformed. People bashing Bob, disrespecting Quiksilver employees, and speculating on hear-say information they received from uncredible sources.
To some the stock price seems to be the main point of conversation. If you were really savy then you should have bought back in December when it was under a dollar.
Just because you have access to Goggle does not make you an expert on a companies internal operations.
If you’re really eager for developing information than maybe you have a little patience and anticipate March. Do any of you super smart guys know the significance of March for Quiksilver?
February 10th, 2009 at 11:53 am
uhhh …March ??? , they are going to re-sign Bobby Marinez ? Uhh they are going to have a Spring Break MTV house rager in Panama City Florida ? uhhhh it’s Bob’s birthday month ? uhhh you are going to come out of the closet ? uhh ..i dunno, i am sooo stoned right now !
February 10th, 2009 at 12:03 pm
Frank,
Perhaps March will have news of the 1st quarter sales that are worse than expected?
Maybe Obama will send the surf industry a couple of billion to bail Quik out?
Maybe stock will go back to .80 and be a good buy?
February 10th, 2009 at 12:10 pm
maybe monkey’s will fly outta Frank’s ass , 15 of them ! i want to speak to Frank16 , Frank15 offered no insight as to what price to set the stop / loss ?
February 10th, 2009 at 3:05 pm
Strong support around zero?
February 10th, 2009 at 3:37 pm
DH ; That was funny ! Very quik ( pun intended )
February 10th, 2009 at 8:18 pm
March is when their big ass bill is due, couple million, they don’t have it.
February 10th, 2009 at 8:32 pm
71 MILLION ; Bob’s got that in his pocket !
February 10th, 2009 at 9:23 pm
Can’t wait for March!!! Maybe I can finally buy Quik stock when it hits $0.01 with my worthless Mexican Pesos! Ole’ Amigos!
February 10th, 2009 at 9:44 pm
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 10th, 2009 at 11:01 pm
I agree with Croc Dundee 1000%! Well said my friend, well said. Shit, let’s hope that N. Korea does not blow their wad towards S. Korea, or we’ll be turning Quik, Volcom and the like into warhead manufacturing facilities! The answer my friends, is blowing in the wind…
February 16th, 2009 at 8:55 pm
I must say, it takes a special company to lay employees off and then capitalize on their concepts, connections and intellectual property. Big wheel keeps on turnin’, no?
February 19th, 2009 at 8:00 am
So when in March is the big bill due?