(C) ROXY

Quiksilver still in the red, but cuts losses

(C) ROXY

(C) ROXY

Action sports group Quiksilver expects for the outgoing financial year (Oct. 31) total sales of between $1.48-1.55 billion. For the fourth quarter, turnover dropped by 16 percent to $400.7 million. On the other hand, Quiksilver, along with its affiliated brands DC and Roxy, managed to reduce its net loss to $51.6 million compared with $171.1 million in the prior year. Gross margin slightly declined from 47.0 percent to 46.7 percent. As reported, Quiksilver is streamlining its business with a stronger focus on its three core brands, while exiting the multi-brand retail business. In November, Quiksilver sold its shares in Australia’s Surfdome online shop to Surfstitch, a former retail investment of competitor Billabong.

Leave a Reply

Your email address will not be published. Required fields are marked *

TOPLINK