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Quiksilver net revenue down 3% in Q1 FY'13

08 Mar '13

4 min read

Asset impairments were $3 million compared with $0.Foreign currency loss was $3 million versus foreign currency gain of $2 million.Net loss attributable to Quiksilver, Inc. was $31 million, or $0.19 per share, compared with $23 million, or $0.14 per share.Pro-forma loss, which excludes restructuring charges and asset impairments, net of tax, was $26 million and $20 million, or $0.16 per share and $0.12 per share, respectively.Pro-forma Adjusted EBITDA was $13 million compared with $20 million, with the decline largely driven by the $5 million change in foreign currency loss noted above.

Fiscal 2013 Q1 Net Revenue Highlights:

Net revenues (in constant currency) by brand and channel for the first quarter of fiscal 2013 compared with the first quarter of fiscal 2012 were as follows.

Brands (constant currency):

-Quiksilver was down 7% to $179 million;

-Roxy decreased 7% to $115 million; and,

-DC was up 1% to $109 million.

Distribution channels (constant currency):

-Wholesale business was down 8% to $268 million;

-Retail was down 1% to $129 million. First quarter same store sales in company-owned retail stores decreased 1% on a global basis; and,

-E-commerce was up 39% to $33 million.

-Emerging markets generated net revenue growth of 15%, in constant currency.

About Quiksilver:

Quiksilver, Inc. is one of the world’s leading outdoor sports lifestyle companies. Quiksilver designs, produces and distributes a diversified mix of branded apparel, footwear and accessories. The company’s apparel and footwear brands, inspired by the passion for outdoor action sports, represent a casual lifestyle for young-minded people who connect with its boardriding culture and heritage.

Quiksilver, Inc

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