MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
I caught up on some reading this morning of recent quarterly reports filed by industry public companies with the U.S. Securities and Exchange Commission.
I found a few interesting details that caught my eye for Vans, Electric, PacSun and Zumiez.
VF Corp. paid $31 million to buy out Vans’ 50% wholesale joint venture partner in Mexico, including 14 stores owned by the former partner there. The transaction closed in March.
The sellers of Electric Visual are eligible to receive $12 million in cash if certain financial milestones are achieved through Dec. 31, 2010.
Volcom acquired Electric in 2008.
Junior’s comps fell 27% at PacSun in the quarter ended May 1.
Young men’s comps declined less than 1%.
Zumiez is self-insured and believes the new healthcare law will likely lead to higher costs for the company.
The provisions that require children to be covered to age 26 and prohibits limits on benefits will likely have an impact on the company’s healthcare costs, and Zumiez is studying the issue, as are many industry companies, I'm sure.