Globe International reduces the value of its trademark to zero
Share price hasn't moved much in the last few days (or years, really).
Way back in 2002 GLB shares were above $22 but they crashed to $1.60 in March 2003, briefly rose through '04 before easing slowly from '06 thru '08 (down to 15c by the end of that year!).
It rebounded a little after that but since mid '11 has been under 50c... currently sitting at 45c (market cap $18.66M).
Yeah Ben i think i can hear the drums beating in the surf wear jungle,probably like everything its been milked to death and in 20 years time will be fashionable again...so hang onto those Globe runners,be cool one day.
didn't Billabong do the same??
should be able to get,m from big w next year .don't know what's goin on but there was a rack of o'neill jackets at bid dub for $50 each about a month ago.so hard to stay ahead of the pack
Haven't seen Globe in the news for a while, but they made some headlines this afternoon:
"STREETWEAR and skateboard retailer Globe International has reduced the value of its trademark to zero."
"The company said weaker economic conditions and saturation of similar sporting brands contributed to the writedown, which delivered a $12.8 million hit to its bottom line."
http://www.news.com.au/finance/business/retailer-globe-cuts-value-of-its...