Interviews
We exit 2011 in great shape – Quiksilver Chief
17 Dec '11
5 min read
As measured in U.S. dollars and reported in the financial statements, Asia/Pacific net revenues increased 2% during the fourth quarter of fiscal 2011 to $81.8 million from $80.4 million in the fourth quarter of fiscal 2010. In constant currency, Asia/Pacific segment net revenues decreased 7% compared to the fourth quarter a year ago.
For the full year of fiscal 2011, net revenues in the Americas increased 8% to $914.4 million. As measured in U.S. dollars and reported in the financial statements, European net revenues increased 4% during the full year of fiscal 2011 to $761.1 million. In constant currency, European net revenues increased 1% compared to the prior year.
As measured in U.S. dollars and reported in the financial statements, Asia/Pacific net revenues increased 5% to $272.5 million for the full year of fiscal 2011. In constant currency, Asia/Pacific net revenues decreased 8% compared to the prior year.
Consolidated inventories increased to $347.8 million at October 31, 2011 as compared to $268.0 million at October 31, 2010. Consolidated trade accounts receivable increased to $397.1 million at October 31, 2011 from $368.4 million at October 31, 2010.
Q4 Highlights
• The company's same store sales in its Americas region were up 16% compared to the same quarter a year ago, continuing a run of strong performance in company-owned stores. Additionally, fourth quarter same store sales in its European region turned positive for the first time in 6 fiscal quarters.
• The company's Roxy brand continued to build momentum in the fourth quarter. Since refocusing the brand in the image of its original California surfing roots and making key changes within the brand management team, Roxy has delivered five consecutive quarters of continually improving revenue comparisons to prior year periods.
• Legendary Quiksilver team rider Kelly Slater clinched his unprecedented 11th ASP World Surf Championship as he dominated this year's tour by winning three events and earning Top 5 finishes in each of the nine events that counted toward his championship point total.
Quiksilver Inc. is the world's leading outdoor sports lifestyle company, which designs, produces and distributes a diversified mix of branded apparel, footwear, accessories, snowboards and related products.
For the full year of fiscal 2011, net revenues in the Americas increased 8% to $914.4 million. As measured in U.S. dollars and reported in the financial statements, European net revenues increased 4% during the full year of fiscal 2011 to $761.1 million. In constant currency, European net revenues increased 1% compared to the prior year.
As measured in U.S. dollars and reported in the financial statements, Asia/Pacific net revenues increased 5% to $272.5 million for the full year of fiscal 2011. In constant currency, Asia/Pacific net revenues decreased 8% compared to the prior year.
Consolidated inventories increased to $347.8 million at October 31, 2011 as compared to $268.0 million at October 31, 2010. Consolidated trade accounts receivable increased to $397.1 million at October 31, 2011 from $368.4 million at October 31, 2010.
Q4 Highlights
• The company's same store sales in its Americas region were up 16% compared to the same quarter a year ago, continuing a run of strong performance in company-owned stores. Additionally, fourth quarter same store sales in its European region turned positive for the first time in 6 fiscal quarters.
• The company's Roxy brand continued to build momentum in the fourth quarter. Since refocusing the brand in the image of its original California surfing roots and making key changes within the brand management team, Roxy has delivered five consecutive quarters of continually improving revenue comparisons to prior year periods.
• Legendary Quiksilver team rider Kelly Slater clinched his unprecedented 11th ASP World Surf Championship as he dominated this year's tour by winning three events and earning Top 5 finishes in each of the nine events that counted toward his championship point total.
Quiksilver Inc. is the world's leading outdoor sports lifestyle company, which designs, produces and distributes a diversified mix of branded apparel, footwear, accessories, snowboards and related products.
Quiksilver Inc
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