Posts tagged as billabong

  • Becoming manufacturers and on-street retailers: SurfStitch's founders Lex Pedersen (left) and Justin Cameron.

    Wednesday, November 25th 2015

    SurfStitch eyes brick-and-mortar retail

    by Markus Huber

    SurfStitch, the Australian online retailer of action sports goods, may have a boost in market capitalization to more than 500 million Australian dollars (€342 million). According to the Australian press, trading of the SurfStitch stock was suspended after the group announced the acquisition of Surf Hardware International, a manufacturer of boards and accessories, for AUD […]

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    Monday, October 19th 2015

    Quik: U.S. court gives go-ahead to Oaktree proposal

    by Markus Huber

    A bankruptcy court in Delaware has approved the proposal of Oaktree Capital Management and bank of America to fund the continuation of bankrupt Quiksilver’s operations. The financial deal is, as reported, worth $175 million. Additionally, the court allowed another $10 million loan which is designed for payments to vendors critical to the surf company’s ongoing […]

  • quik_homepage-carousel-3-def

    Friday, October 16th 2015

    Quiksilver denies rumors of possible Billabong merger

    by Markus Huber

    Beleaguered board sports group Quiksilver, which filed for bankruptcy a few weeks ago, has excluded the possibility of a merger with Australian competitor Billabong International. The rumor was fueled after Oaktree Capital, which holds 18.7 percent of Billabong shares, is said to have helped refinance Quik through a deal worth $175 million. Bankers won’t exclude possibility of a […]

  • BBONG_GLOBAL_LANDING_SU13_e

    Friday, August 28th 2015

    Billabong back in the black

    by Markus Huber

    For the financial year 2014-15 ended June 30, Billabong has booked total sales of 1.05 billion Australian dollars (€666.2 million) – up by 2.6 percent compared with the prior year. The Aussie boardsports company managed to achieve a net profit of AUT 4.2 million (€2.7 million) after a significant loss of AUT 233.7 million (€148.3 […]

  • Thursday, March 26th 2015

    Billabong to face class action from shareholders

    by Markus Huber

    Australian board sports company Billabong is threatened by legal class action started by some of its shareholders. The issue is alleged bad timing of profit warnings that led to a significant drop in the group’s share.

  • billabong_image

    Thursday, February 26th 2015

    Billabong returns to the profit zone

    by Markus Huber

    In its first six months ended Dec. 31, Australia’s Billabong group reached a net profit of 25.7 million Australian dollars (€17.9 million) compared with a loss of AUD 126.3 million (87.7 million) in the previous period. Excluding extraordinary items and discontinued businesses, earnings before interests, taxes and write-offs (Ebitda) was AUD 42.8 million (€29.7 million, […]

  • Wednesday, November 12th 2014

    Quiksilver pulls out of Surfdome retail operations

    by Markus Huber

    Quiksilver intends to sell its majority stake in action sports retailer Surfdome to SurfStitch. The deal, worth some $16 million, is set to work on condition that SurfStitch acquires the remaining outstanding shares in Surfdome as well. Quiksilver’s divestment is part of the group’s strategy to concentrate on its brands Quiksilver, DC and Roxy. In financial 2013-14, […]

  • Friday, August 29th 2014

    Billabong surfing fairly well after riding rough water

    by Markus Huber

    In the financial year 2013-14, Australian board sports group Billabong managed to increase its total sales by 1.6 percent to about 1.1 billion Australian dollars (€780.2 million) – notably for continuing business operations. The net loss can hardly be compared to the previous year because of various divestments, but it was, in effect, down by some […]

  • Thursday, August 21st 2014

    Billabong divests multi-brand e-commerce operations

    by Markus Huber

    As announced in February, board sports company Billabong is coming to terms with getting rid of its multi-brand online retail operations SurfStitch.com for Australia and Europe and Swell.com for North America. The divestment is part of the Australian company’s restructuring program in which it is concentrating on wholesale and mono-brand retailing. Swell is owned 100 percent by Billabong, […]

  • Friday, February 7th 2014

    Stock market and investors react positively to Billabong’s new strategy

    by Markus Huber

    Billabong shares went up 13.2 percent yesterday to AUD 0.685 (€0.456) the highest they have been in nine months. This came right after the announcement of some good news for the beleaguered surf company. At the group’s general meeting, a new strategy plan was approved which included, as reported, the sale of the West49 chain in Canada […]