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Archive for the ‘Business news’ Category

The state’s ski industry rebounded this season for the second-best season on record as more than 4.5 million skiers and snowboarders hit the slopes of the state’s 18 resorts.

The 4,513,041 skier and snowboarder visits represented a 16 percent increase over the dismal 2011-12 season, the Vermont Ski Areas Association reported Tuesday at its annual meeting in Stowe.

This season was the best season since   …  More

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The U.S. surf/skate industry saw $6.07 Billion in retail sales for all channels in 2012. Results from the 2012 Surf Industry Manufacturers Association (SIMA) Specialty Retail Distribution Study, a third-party research study conducted by the Leisure Trends Group (LTG) and commissioned by SIMA, show core product categories holding strong as specialty retailers remain optimistic about the future.

The 2012 SIMA Specialty Retail Distribution Study focuses on a detailed look at the core surf and skate specialty retail market. This core channel captured   …  More

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As the industry awaits news of Billabong’s sale, a deal is looking less and less likely. Today news broke in the Australian that Billabong is selling its Canadian retail operations including the 70-store chain West 49, which it bought for $91 million in 2010.

Included in the package will also be six Billabong stores, 18 of its Amnesia stores, and   …  More

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The Billabong story continues today as the company announced that it has ended talks with Sycamore Partners and Altamont Capital Group to sell the company in its entirety. After re-instating trading of its stock, Billabong saw a 51.65% drop from $0.45 per share to $0.22 per share, as of the time this was published.

Layoffs were reported as a result of the cost cutting strategy the company is implementing, and more potential layoffs are anticipated, according to reports.

The company is   …  More

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