Quiksilver Narrows January Quarter Loss, Misses Street EstimatesThursday, March 6, 2014
Huntington Beach-based Quiksilver Inc. narrowed its adjusted loss for the January quarter, and the apparel maker and retailer said it continues to make headway on its turnaround plan.
Quiksilver makes clothes, shoes and accessories under its namesake brand along with Roxy and DC Shoes.
Quiksilver missed analyst expectations with an adjusted loss of $16 million for the three months through Jan. 31, narrowed from $26 million a year ago.
Analysts estimated a loss of $9.6 million.
The company had net revenue of $393 million for the quarter, down 2% from the year-ago period in constant currency and below consensus estimates of $407.56 million.
Results were mixed for the company’s three core brands.
Roxy sales rose 5%, excluding the impact of exchange rates, to $117 million.
Quiksilver and DC, both saw sales down for the quarter.
The company's overall wholesale business was off about 7% to $239 million.
Its retail business, which includes 645 company-owned stores, grew 4% to $131 million. Same-store sales for company-owned stores grew 2%.
Quiksilver did not provide guidance for the current quarter.
Analysts expect a loss of $1.6 million on revenue of $453.21 million for the current quarter.
Quiksilver shares were up less than 1% in after-hours trading to a market value of $1.3 billion.