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.