Home / Knowledge / News / Apparel/Garments / Sports apparel brand Quiksilver posts 19% dip in Q3 sales
Sports apparel brand Quiksilver posts 19% dip in Q3 sales
Sep '14
A 27% plunge in American continent sales, led NYSE-listed marketer of outdoor sports apparel - Quiksilver, Inc., to report a steep 19% year-on-year drop in global revenues for the third fiscal quarter ending July 31, 2014.

Net revenues in the third quarter of 2014 totalled $396 million compared with $488 million in the third fiscal quarter of 2013, down $96 million or 19%, in constant currency.

Region wise, sales from Americas plunged 27% year-on-year to $191 million, EMEA sales fell 13% from a year earlier to $143 million and APAC turnover dipped 2% to $62 million in the third quarter of 2014.

Gross margin in the third quarter of 2014 also declined to 47.8% from 49.1% in corresponding quarter of 2103. Quiksilver attributed the decline to increased discounting in the wholesale channels of certain regions.

However, SG&A expense decreased $2 million to $213 million from $215 million. Quiksilver said the fall was driven by reduced employee compensation expenses as a result of lower severance costs.

Asset impairments totalled $183 million in the third quarter of 2014 compared with $2 million, reflecting a non-cash charge of $182 million in the third fiscal quarter of 2014 to write-off the carrying value of goodwill attributable to its EMEA reporting segment.

A bigger impact was felt by EBITDA, which slipped massively to zero from $53 million.

Versus income from continuing operations of $0.2 million, or $0.00 per diluted share in the third quarter of 2013, Quiksliver posted a massive net loss from continuing operations amounting to $220 million, or a negative $1.29 per share in the third quarter of 2014.

Andy Mooney, CEO at Quiksilver said, “As we expected, revenues for the third quarter declined in our wholesale channels in North America and Europe. In addition, late product deliveries, largely the result of our transition to global demand planning, negatively impacted our sales performance and gross margin.”

“We are resolving the product delivery issues and already see improved fulfillment in the Holiday season. We continued to right-size staffing, redeployed our marketing to invest more in media and point of sale, improved the quality of distribution in North America”, he added. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

(left to right) Rohit Munjal, Ashok  Shah, Rahul Mehta, Premal Udani, Rajesh Masand and Jayesh  Shah

Textiles | On 28th Jun 2017

CMAI to host 822 exhibitors at 65th National Garment Fair

The Clothing Manufacturers Association of India (CMAI) will host over ...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Tony Ward
Tony Ward

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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


news category

Related Categories:
July 2017

July 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search