Quiksilver Inc. recorded a 129.4% swell in sales growth for the past three years ended June 30 and moved up 10 notches to rank No. 26 on this year’s list of fastest-growing public companies.
The sportswear manufacturer and retailer, which has its roots in the surf business, has grown sales from $206.6 million in 1997 to $474 million for the 12 months ended June 30. The company’s profit growth has kept pace: net income more than doubled in the past three years to $29.9 million.
Quiksilver continues to reinvent itself by diversifying product lines. The Huntington Beach-based manufacturer got into the snowboard business a few years ago and bought skateboard apparel brand Hawk Clothing earlier this year.
The company also recently launched a women’s line called Alex Goes and has loaned John Ashworth seed money to develop a golf line that it eventually may consider bringing into its fold.
Meanwhile, Quiksilver’s retail surf shop business continues to expand under the Boardriders Club chain, especially in Europe where it has 52 stores compared to 16 stores in the United States. A licensee in Mexico operates 16 stores. The company owns and operates seven stores including one on the Champs Elys & #233;es in Paris. The bulk of the shops are licensed stores.
This year, the company also acquired Quiksilver International Pty Ltd., the Australian owner of the worldwide trademark rights to the Quiksilver brand name and competing surf brand Gotcha International’s European licensee.
For its fiscal third quarter ended July 31, Quiksilver reported net income of $6.7 million on sales of $122 million, vs. net income of $5.6 million on sales of $105.1 million for the same period a year earlier.
For the past five years, the company’s earnings per-share growth has averaged 21.3%, outpacing the textile industry overall at 8.6% and the S & P; 500, which grew 9.1% during the same period. n
