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Skullcandy, Inc. (SKUL) Message Board

  • staffordo3 staffordo3 Aug 1, 2013 6:36 PM Flag

    Results My Thoughts

    Lower Gross Margin ( I expect this will continue as gaming continues to take greater mix)
    Increase in Opex (now 47% of sales, they need to make some tough cuts)
    Decline in International sales (15.9% decline, Brand is not resonating WW)
    Inventory remains high and is now equivalent to quarterly sales revenues ($50M)
    Lower sell in at key customer ( brand is struggling with fragmented market)
    Still no relevant product in the high growth Wireless category (how out of touch are they)

    What happened in the market: (NPD June)
    Headphone category growth slowing
    Beats & Bose are the only major headphone vendors growing
    Yurbuds & Jaybird taking share in the Earbud sport segment (100% Y/Y growth)

    I don't think the brand is working at all and i think there changes are too slow. Looks like a long road of declining revenues and relevance.

    it's about time they bought back shares or Hoby bought some shares.

 
SKUL
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