Weak second quarter for Quiksilver

Weak second quarter for Quiksilver

Surf brand Quiksilver's second quarter was not good: it suffered a 37.6 million dollar (33.2 million euro) loss. Although that is an improvement over last year, it is worse than what analysts had expected.

Postponed its goals

In the same period in 2014, Quiksilver had a 53.1 million dollar (46.8 million euro) loss, which shows it is on the road of recovery, but analysts had expected a smaller loss. Turnover also dropped, from 397 million dollars (350 million euro) to 333.1 million dollars (293.8 million euro), while analysts had expected a 341 million dollar (300.8 million euro) turnover.

 

It has been nearly 2 years since Quiksilver registered a profit, despite numerous attempts to regain profitability. It has, for example, sold off several brands so that it could regain its spot in a more niche part of the market. 

 

Quiksilver had forecast it would return to profitability in the second half of the year, but has now distanced itself from that earlier forecast. The fashion and accessory brand says it still needs to resolve several issues before it can work on its profitability.

Questions or comments? Please feel free to contact the editors


Carrefour cuts thousands of jobs in favour of e-commerce

23/01/2018

French hypermarket group Carrefour is laying off thousands of employees, CEO Alexandre Bompard announced today. His new transformation plan, focused on e-commerce, is intended to turn Carrefour into the “global leader in food transition”.

This is how fast Amazon is growing in food

22/01/2018

E-commerce is still underrepresented in food sales, but Amazon’s American and European 2017 growth numbers are impressive. Are we close to a tipping point?

Amazon opens first cash register-free store

22/01/2018

Amazon will open its first cash register-free store in Seattle today, near its main office. The trial with its own employees will now be extended to the general public.

Will Unilever acquire tonic brand Fever-Tree?

19/01/2018

Tonic brand Fever-Tree appointed a new director, Kevin Havelock. Considering he leads Unilever’s sodas division, there is speculation that Unilever may acquire Fevertree Drinks and that has boosted its share.

Aldi Nord and Aldi Süd collaborate for animal welfare

18/01/2018

Aldi Nord and Aldi Süd will join forces for a unique collaboration: they will launch their own animal welfare quality mark. “Fair & Gut” (Fair and Good) will launch in Germany for poultry products, but steadily expand.

Rewe uses chocolate pudding to see how little sugar is acceptable

18/01/2018

German supermarket chain Rewe has asked its customers how little sugar they can bear. It aims to lower its private label’s sugar levels, but the consumer will decide by how much.

Back to top