Sponsors
Billabong ▲ +0.015 | PPR ▼ 0.00 | American Apparel ▼ -0.020 | The Buckle ▲ +0.55 | Columbia ▲ +0.09 | Deckers Outdoor ▲ +1.29 | Dicks ▲ +0.96 | Foot Locker ▲ +0.90 | Genesco ▲ +0.90 | Iconix Brand Group ▲ +0.85 | Jarden Corp ▲ +0.70 | Nordstrom ▲ +1.08 | Luxottica ▲ +0.07 | Nike ▲ +1.72 | Pacific Sunwear ▼ -0.06 | Skullcandy ▲ +0.08 | Sport Chalet - 0 | Urban Outfitters ▲ +0.57 | VF Corp ▲ +0.20 | Quiksilver ▼ -0.01 | Zumiez ▲ +0.15 | Macys ▲ +0.86 | Tillys ▼ -0.01 |
Readers Say
It pertains to my business
It pertains to my business

I’m an avid reader of Shop-Eat-Surf because it’s really the only online newsletter that I have found that is not only industry related, but also because it’s not so “guy-centric.” I find that a lot of the information I read on the site pertains to my business (as a swimwear designer) and keeps me up to date on what other companies and other women in the industry in general are doing which is not only inspiring but also helps me gauge the future direction of my business as well.

I feel privileged to read the Executive Edition because I know I am getting insider industry information before it hits the mainstream media channels. And it’s always good to know what my friends are up to in the industry.

- By Monica Wise, Founder, L*Space
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
Industry Insight

4 reasons for B2B companies to embrace ecomm from NuORDER. Invitation to PROCOPIO's Labor and Employment Law seminar.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Layoffs at Billabong, Naude update

By Tiffany Montgomery
June 03, 2013 9:20 PM

In more Billabong news, several senior Billabong employees in the Americas were laid off today, including well-known sales executives.

Names on the list include retailer favorites Jeff Booth, Men’s National Sales Manager, Angi Broberg, Billabong Girls National Sales Manager, and Royce Cansler, who handled surf retail relations.

Royce Cansler, Jeff Booth, George Karamitos of Maui Nix, Richard Sanders, and Angi Broberg at Surf Expo in January. Royce, Jeff, and Angi were let go today as part of a restructuring. Shop-eat-surf file photo.Others with key jobs included Berta Dos Santos, Chris Cole, Shelly Ryan and Mike Figueroa.

Billabong announced earlier today that a total sale of the company is off the table, and that it is exploring refinancing and asset sale proposals submitted by Sycamore Partners and Altamont Capital Partners.

A person with knowledge of the circumstances told me that Paul Naude is still involved in the Sycamore bid.

While the announcement today means that a change in ownership of the company will not happen, I am told management changes at the top are still possible if some of the deals under consideration are approved by the board.

Separately, I confirmed with Billabong in Australia this week that Paul’s leave of absence from the company is in effect, and that he is still officially a company employee.

In its announcement today, Billabong said cost cutting will continue across the globe as the company looks to restructure its business. The cuts come as Billabong prepares to wrap up its financial year at the end of June.

The company's stock plunged more than 40% and was trading at 26 cents in Australia Tuesday.

 


Articles You Might Have Missed