Home / Knowledge / News / Apparel/Garments / Apparel marketer Billabong slips into H1FY16 loss
Apparel marketer Billabong slips into H1FY16 loss
Mar '16
Aussie apparel marketer Billabong slipped in to a loss of Au $1.6 million for the first six months of fiscal 2016 ended December 31, 2015.

“This compares to a net profit of $25.7 million for the corresponding period of the previous fiscal,” a Billabong press release said.

“The first six months of fiscal 2015 benefited from $13.5 million of significant items including gains on asset sales, compared with an immaterial net impact this period,” the company explained.

For continuing businesses, EBITDA excluding significant items was down to $37.2 million compared to $42.8 million for the fiscal ago period.

However, for the reporting period, total group sales were $561.9 million, up 7.6 per cent as against the same period of prior fiscal, but were again down 0.8 per cent on a constant currency basis.

According to Billabong, the overall result was impacted by the Americas where EBITDA declined by $6.9 million for the period.

“Gross margins too were down due to pressures from excess inventory which followed the West Coast US port strike early in calendar 2015,” the company observed.

“Collectively the rest of the world EBITDA was ahead over the first half of prior fiscal despite increased cost of goods from a relatively higher US dollar,” it noted.

Billabong further added that global platforms to support brands have begun to be rolled out with targeted benefits of $30 million in annualised savings at maturity.

“This is a brand led turnaround and our big three brands, where we placed our focus, grew globally,” said Billabong CEO Neil Fiske.

“Europe continues to gain momentum and the Asia Pacific region has delivered a solid performance given currency pressures,” Fiske too added.

“The result has been impacted by conditions in the Americas, as highlighted in our November update, including sector weakness in retail and short-term margin pressures associated with clearing excess inventory,” he observed. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search