Surfstitch used to be part owned by bbg so it's not surprising.
Surfware in general has been a tough market (despite packed lineups) with major brands becoming too mainstream and fashion moving away from graffiti brand tee shirts. Heck it's cool to buy your clothes at the opshop these days.
Surfing as a sport is at a real junction. 2nd year of WSL (the rebranded world tour) and there are big changes in the industry with major players going broke.
I still think surfstitch is in a good place and will benefit long term from the current investment strategy but I think they have misscommunicated the strategy and the companies financial situation which has distroyed shareholder confidence.
Cameron and the board have really screwed the company over though (sadly probably for personal gain). Having your founder leave during the most important part of a transition and rebrand is a disaster. Don't blame him he's got to look after his own interests, it's just too bad it's at the expense of mine :/
SRF Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
