AGENDA: Pre-registration and lodging specials for Vegas show, Aug. 17-19.
SIA: Cooling down NYC with annual Summer Snowdown media event.
Details on Industry Insight.
This info comes from Volcom's power point presentation at the ICR XChange this afternoon. I'm not there now and having trouble listening to the Webcast, but I can see the documents, which have interesting information about why Q4 missed targets and the company's long term strategy.
The reorder business was lower than expected and off-price selling was higher
Europe revenue was slightly ahead of plan by $2 million
U.S. revenue was below plan by $6 million
PacSun sales were slightly ahead of plan
The juniors market has slowed down
Grow internationally. Total European revenues in 2007 were $39 million. Volcom took over its European operations last year and its new headquarters in France is fully operational.
Broaden awareness in denim, boardshorts and outerwear
Intensify marketing focus in specific product categories
Acquire key emerging brands in the action sports industry that fit Volcom's culture and have complementary product categories.
Grow its company owned retail stores to control distribution/destiny/brand image. Volcom believes company-owned retail generates revenue and margin expansion and is incremental to its wholesale business. Currently Volcom has six stores; five to seven are planned for 2008 including New York, Boulder and Waikiki
Volcom sees the soft retail environment continuing
It plans to continue to invest in growth
The company expects revenue growth of 18 percent and earnings growth of 10 percent.