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Mar 18, 2015
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Quiksilver reports Q1 loss

Published
Mar 18, 2015

For its first quarter ending on January 31, Quiksilver saw its operating losses decline compared to the same period last year going from 4 to 1.3 million dollars. The group saw its sales fall by nearly 14% over the period (4% before exchange rate) to 340.8 million dollars.

But, by reducing costs, including employee compensation, rent and distribution expenses, the surf brands group improved its operating margin.

Quiksilver has reported a loss in the first quarter - Instagram Quiksilver


It nevertheless recorded a net loss of nearly 10.8 million dollars. However, the group announced a positive Ebitda of 10.1 million dollars. 

In terms of sales by region, the Americas saw an 8% drop on constant currency and 16% final at 147.8 million dollars. 

The Europe Middle East Africa region posted -3% at constant currency and -16% final at 125.8 million and the Asia-Pacific region saw an increase of 4%, weighed down (-5%) by currency rate fluctuations at 66.6 million dollars. 

Over the course of the quarter, the numbers for the group’s three leading brands were down. Quiksilver generated 140.8 million dollars, down 14% (-3% before exchange rates), Roxy posted 100.3 million dollars at -15% (-6%) and DC recorded -13% (-4%) at 89.1 million.  Its other business brought in 10.6 million dollars. 

Overall, its wholesale business suffered the most, falling by 19% (-9% before currency fluctuations) at 140.8 million dollars. Retail saw a decline of 9% (stable before the effect of exchange rates) at 119.1 million, while e-commerce jumped by 14% (+20%) to 26.7 million dollars. Licenses generated 2.7 million, up 24% (+3%). 

It is worth noting that while its apparel and accessories segment, with 251.5 million dollars, recorded an 18% decline (-7%), its footwear segment recorded a 1% increase (+8%) at 89.4 million. 

For 2015 as a whole, the group expects its net revenues to grow by between 1% to 6% at between 1.38 and 1.45 billion dollars. It expects its annual Ebitda, meanwhile, to be between 70 and 80 million dollars.

$1 = £0.68

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