Rossi Discontinued??

[skigrl27]

This is from the Snow Industry Letter:

QUICKSILVER LOSSES WIDEN; ROSSI REPORTED AS DISCONTINUED

Quiksilver reported a wider loss in its second quarter due to a higher shortfall from discontinued operations. For the quarter ended April 30, the company recorded a loss of $206.2 million, or $1.59 per share, compared with a loss of $4.8 million, four cents per share in the prior-year quarter.



The latest quarter's results included a loss of $1.88 per share from discontinued operations stemming from an impairment charge. The Rossignol winter sports equipment and apparel business and the golf equipment business were both reported as discontinued operations. Quiksilver sold its golf equipment business in December and has begun the process to sell the Rossignol unit.



Revenue rose 15% to $596.3 million from $520.4 million. Revenue grew in every geographic region, rising 5% in the Americas and 23% in Europe, the company said.

 

[ski diva]

Wow! That's pretty startling!

Anyone know anything about that?

 

[bklyn]

I've heard lots of rumors about losses. Does 'discontinued' mean they have a buyer or that they're folding the brand?

 

[Robyn]

I've put an email out to my Rossi contact.

 

[Robyn]

Here's a link to the SEC filings where it states they are classified as discontinued while pending sale. https://www.sec.gov/Archives/edgar/data/805305/000095013708008292/a41389e10vq.htm

Rossi contact knows nothing.

 

[alta_gal83]

What I've heard in the wind 'round here (since Rossi is headquartered in PC) is that Quicksilver is looking to dump/sell Rossi. However, I do not believe this means that the Rossignol brand is going out of business. I've already seen the gear lineup for next season!!!

 

[Jilly]

From SkiPresse:

. The company sold its golf equipment operations in December 2007 and has begun a process to sell its Rossignol wintersports equipment and apparel business.

Hopefully it won't be Amer. They've already got Atomic and Salomon. Not sure if Roxy is included in the Rossi sale.

 

[MaineSkiLady]

Isn't Roxy a division/off-shoot brand of Rossignol? Wow, this is rough news. For so long, a hard-hitting powerhouse of ski sales - and with good reason. I think some of the best-selling skis of all-time were Rossi's - as you and I have previously discussed, Jilly. I still have some 7SK's "in residence." Pristine. Have to take pic someday

Hopefully, the brand will get bought up, but doesn't that always seem to "change" things somehow??

 

[sbskier]

Isn't Roxy a division/off-shoot brand of Rossignol?

My understanding is that Roxy skis are Dynastar and Rossignol skis with different topsheets. I believe that I read that somewhere, but I cannot be certain.

 

[MaineSkiLady]

That's ringing a bell. This is all getting SO confusing (the buy-outs, etc.) First Rossignol bought up Look, then Dynastar bought it from Rossi -- but some Look bindings are still badged as Look and some are badged as Dynastar - and we have a set of skis here with Look bindings badged as Rossignol. Round and round it goes, where it stops......

 

[skiso]

My understanding is that Roxy skis are Dynastar and Rossignol skis with different topsheets. I believe that I read that somewhere, but I cannot be certain.

I also heard that from the people at Evogear in Seattle. At the same time (April) they mentioned that Quicksilver was selling Rossignol. It nearly inspired me to buy a pair for posterity until I remembered the 190cm straight skis in my basement...

 

[ski diva]

Well, this may answer some of the questions.

From FirstTracks:

Board sports company Quiksilver, Inc. will sell its Rossignol brand of ski hardgoods and softgoods, the company announced in its second quarter financial statement last week. The sale will include the Rossignol, Dynastar, Lange, Look and Kerma brands of ski equipment and apparel, all of which are operated under the Quiksilver's Rossignol Group business unit.

Quiksilver has now classified its Rossignol Group wintersports equipment and apparel business as discontinued operations pending the sale and took a non-cash pre-tax charge in the second quarter of $240.2 million. The revision to the recorded value of the Rossignol Group was triggered by the sale process.

“As we separate the results of the Rossignol Group from those of our continuing core businesses, it becomes increasingly clear that our broadly diversified mix of brands, products, geographies and distribution channels positions us well in challenging economic climates, such as the one we all face today," stated Robert B. McKnight, Jr., Chairman of the Board, Chief Executive Officer and President of Quiksilver, Inc.

Among winter sports brands, Quiksilver also maintains the Quiksilver, Roxy, DC and other apparel brand businesses. The company will continue to make snowboarding equipment under its DC, Roxy, Lib Technologies, Gnu and Bent Metal labels.

The Rossignol Group maintains North American offices in Park City, Utah, with a distribution center in nearby Ogden.

 

[itri]

Mini threadjack...is the Look brand of ski equipment the same maker of the Look bicycle gear? Just curious, as I had never seen or heard of the Look brand until I bought my road bike in the fall and the bike shop sold me Look pedals...