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Billabong USA Parent Lowers Profit Outlook

Delayed orders at Irvine-based clothing maker Billabong USA helped drive a downward profit revision by Australian parent company Billabong International Ltd.

Billabong International, which makes clothes inspired by surfing and skateboarding and also runs stores, said Wednesday it expects adjusted profits for the six months through December to be 8% to 13% lower than a year earlier.

The company blamed bad weather and a retail slowdown in Australia for part of the revision.

Issues at Billabong USA, which makes up half of the company’s business, also were a factor.

Billabong USA saw a shift in orders from some retailers, which is set to push sales expected by December into the first half of next year.

The shift was partially offset by strong sales at Billabong-owned stores in November and early December, the company said.

The profit revision drove a slump in Billabong International’s shares in Australia. They dropped nearly 10% to a market value of about $1 billion.

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