Strong European and Asian gains drove sales and profit growth for Quiksilver Inc. in the quarter ended July 31, the company said Thursday.
The Huntington Beach-based surfwear maker said its net profit in the quarter grew 26% to $25 million on an 11% gain in sales to $374 million.
“During the quarter, we closed our acquisition of Skis Rossignol SA, completed a highly successful bond offering and put a new global management structure in place,” said Robert B. McKnight Jr., Quiksilver’s chairman and chief executive.
European sales grew 14% measured in euros, while the company’s Asia and Pacific unit saw a 21% rise in sales as measured in Australian dollars.
Sales in the company’s Americas region were up 4% in the period.
As part of the company’s $312 million buy of Rossignol, Quiksilver said earlier this week that it plans to set up an operation in Park City, Utah, to house its growing ski operations.
The site will house the U.S. operations of the company’s Rossignol, Dynastar, Lange and Look units. It also will be home to Quiksilver’s recently announced Roxy ski business targeting young women.
Quiksilver said it plans to post sales of $582 million to $592 million in the quarter ending Oct. 31. Net profit is expected to be $32 million to $34 million.
