Quiksilver announced its fourth consecutive year of losses, this time bringing in $459 million, but managing to be $32 million in the red. The losses of the last four years total $117 million so far. But never fear, they have a plan. A nearly identical plan to that being implemented by the board of Billabong to try and turn around their fortunes which consists of selling or closing non-core brands, getting rid of retail and making some major reductions in the number of product lines. Lets hope there’s something in these plans or there’s going to be some pretty big gaps in the industry for a while. Read more on it over here.
June 12, 2013