As reported by Label Networks’ Global Youth Culture Marketing Intelligence
The fourth quarter results for Volcom report a net income increase up 7% to $7.6 million or $.31 per share with an overall increase in revenue of 37.2% to $57.6 million. Part of this may be because sales to Pacific Sunwear were up 36% but this is also because PacSun moved their shipments for Q1 for ’07 to Q4 of ’06. So expect a flat Q2 in terms of PacSun orders. Interestingly, PacSun’s woes have affected Volcom, but Volcom’s diversified and is doing well with the ever-increasing retailer Zumiez, as well as Federated from Macy’s and Nordstrom.
The big news is that like many brands, Volcom is going to be opening more of its own stores and therefore gaining greater control its destiny–including expanding in Europe.