On July 25, Volcom hosted its Q2 Conference Call for investors. Among other things, Chairman/CEO Richard Woolcott discussed the company’s retail strategy and the recent announcement that it planned to acquire Laguna Surf & Sport.Here’s what Woolcott told investors.
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According to story posted Monday, July 21 on CNNMoney.com, Volcom Inc. announced today that it is buying Laguna Surf & Sport for undisclosed terms. Due to the deal, Volcom’s shares reportedly rose 67 cents, to $25.90, in morning trade, according to CNN Money’s story.
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On July 21, Volcom announced plans to acquire Laguna Surf & Sport from longtime Owner Eric John. Days later in the company’s Q2 conference call Chairman/CEO Richard Woolcott told investors “The multi branded concept of the LS&S stores is a little different for us, but we believe it helps diversify our retail business by providing us with greater insight about our customers and market trends.” Woolcott also says the stores will keep the same product mix and employees.
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