Tuesday, February 13, 2007

This Week in The B.O.S.S. Report

o VF Corp. continues organic growth and looks for big deals.
o OR Hardgoods go green too.
o Climbing continues growth.
o Quiksilver cuts guidance while K2, Inc. Raises.
o Oakley Q4 sales climb; margins fall.
o Timberland restructures.
o Timberland Q4 impacted again by boot business.
o OIA supports new NPS budget.
o Moosejaw takes on new private equity partner.
o Sport Chalet continues expansion; will enter Utah.

and much more...

Some excerpts:

VFC Outdoor Coalition total revenues were up 32% to $453 million during the fourth quarter. Domestic revenues in the ODC grew 34% in the quarter, while international revenues rose 28%. Operating income increased 36% in the quarter, and operating margins rose in spite of additional investments into infrastructure. The North Face saw double-digit revenue increases during the quarter with “solid sell-through” in spite of the unseasonably warm weather. TNF backlogs for both spring and fall are up over 20% and in line with VF’s expectations. TNF Americas revenues increased “more than” 35%. The brand opened four new full-price retail stores during the quarter and retail sales were said to be “as strong as the wholesale business...


Quiksilver, Inc. has adopted a more cautious outlook for the remainder of this year and next year's early season due to the unseasonably warm winter and poor snow conditions in the U.S. and in Europe. ZQK now expects first quarter fiscal 2007 revenue to be $540 million and diluted EPS to be four cents compared to previously expected revenues of approximately $550 million to $555 million with diluted EPS of nine cents for the period ending January 31...

Just hours after Quiksilver issued their warning, K2 Inc. announced that they would be raising their expectations for fiscal 2006. The company now expects adjusted diluted earnings per share for the full year to be in the range of 87 cents to 88 cents, exceeding K2's previous guidance of 83 cents to 86 cents...


In conjunction with reporting its financial performance for the fourth quarter and the year (see page 9), Timberland announced the departure of the company’s COO, Ken Pucker, who had been with the company for 15 years. TBL said his departure had been anticipated for nearly a year and the executive team had been working on a succession plan which included a major shift in the company’s management and reporting structure...


Timberland Apparel and accessories revenue expanded 26.1% during the quarter to $130.1 million, supported by the addition of the SmartWool brand and growth in Timberland brand sales globally. Smartwool sales increased for the full year to approximately $53 million globally, up 27% on a comparable basis and ahead of TBL’s performance goals...


Sport Chalet’s plan for calendar 2007 is to open six to eight new stores and complete two major remodels during the year. The new stores will primarily be focused on adding density to existing markets in Arizona, Southern California, and Nevada with the majority in Arizona. The company will be entering one new market during the 2007 calendar year, Utah. The new store will be located in Jordan Landing, which is in the greater Salt Lake City area...


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