Sponsors
Billabong ▲ +0.015 | PPR ▲ +1.55 | American Apparel ▲ +0.001 | The Buckle ▲ +0.41 | Columbia ▲ +0.28 | Deckers Outdoor ▼ -0.79 | Dicks ▲ +1.05 | Foot Locker ▲ +0.17 | Genesco ▼ -0.28 | Iconix Brand Group ▼ -0.09 | Jarden Corp ▼ -0.89 | Nordstrom ▲ +1.07 | Luxottica ▼ -0.09 | Nike ▼ -0.25 | Pacific Sunwear ▼ -0.02 | Skullcandy ▼ -0.35 | Sport Chalet ▼ -0.05 | Urban Outfitters ▲ +0.07 | VF Corp ▲ +0.52 | Quiksilver ▼ -0.15 | Zumiez ▼ -0.03 | Macys ▲ +0.60 | Tillys ▼ -0.16 |
Ticker Sponsor
Readers Say
Since the inception of Executive Edition, I only need 1 stop
Since the inception of Executive Edition, I only need 1 stop

As a retailer in the surf industry for the past 21 years, I have had to use multiple sources to stay informed to the news within surf. Since the inception of the Executive Edition of Shop-Eat-Surf.com, I need only one stop. Thanks for providing such a valuable tool to all of us in the industry. Shop-Eat-Surf is a must read for all of our staff at Maui Nix.

- By George Karamitos, CEO, Maui Nix
Executive Edition is a must have
Executive Edition is a must have

Before Shop-Eat-Surf, there were two sites I paid for premium content on. One is Surfline, the other is the Wall Street Journal. One is about all things surf, the other, the best business content site in the world. Shop-eat-surf is the intersection of those two worlds. Shop-Eat-Surf provides everything from coverage of events, people, brands and trends. However, beyond the Executive Edition "wall" is more meaty analysis and interpretation of financial statements, business models and brand philosophies; why certain brands and companies are succeeding, where others aren't. The Executive Edition is a must have read if the business of surf and action sports are on your radar screen.

- By Jeff Berg, Co-owner, Surfline
New Industry Insight

Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.


Tiffany Montgomery
Print This Article

European economy slows, data shows

European economy slows, data
By Tiffany Montgomery
July 08, 2008 6:06 AM

As the U.S. economy sputters, Europe has been the bright spot for many companies, including those in the action sports sector.


Quiksilver European revenues increased 23 percent to $284.5 million in the quarter ended April 30, with some benefit from exchange rates. Volcom's European revenue in the quarter ended March 31 reached $25.2 million, above the $21 million plan. Billabong's European revenue rose 19.6 percent in constant currency terms for the six months ended Dec. 31, 2007.


But recent economic data shows that a slowdown has started in several European countries.


A key measurement, the Purchasing Managers Index (PMI) for the Euro zone manufacturing sector contracted in June for the first time in three years, the Wall Street Journal reported.


Unemployment also increased for the second straight month in May in the Euro-zone.


Denmark technically slipped into a recession after gross domestic product contracted in the first quarter, the second consecutive quarter of contraction.


Economists believe Italy, Spain, Portugal and Ireland are most at risk of following Denmark into recession. The gross domestic product fell in Ireland and Portugal in the first quarter, and Italy just missed a second consecutive GDP contraction in the first quarter.


Big BenIn the U.K., which is outside the Euro zone, the PMI fell in June to 45.8, down from 49.5 in May. A PMI reading below 50 signals a contraction in manufacturing.


The U.K. is facing falling housing prices and tightening credit conditions.


Retail data there show consumers are still spending, but appear to be switching to less-expensive food and clothing stores.


In May, U.K. retail sales rose a healthy 3.5 percent from April, the Wall Street Journal reported. Asda, a discount chain owned by Wal-Mart, reported a sales increase of 7.5 percent for the quarter ended June 15.


However, upscale British retailer Marks & Spencer, the largest clothing retailer in the U.K. which also operates high-end food stores, reported a larger than expected 5.3 percent drop in same-stores sales for the quarter ended June 28. In all stores, sales fell 0.5 percent.


Marks & Spencer CEO Stuart Rose said he expected the tough conditions to last two years.

 


Articles You Might Have Missed