×
91 855
Fashion Jobs
NORDSTROM
Asset Protection - Agent - Fashion Valley
Permanent · San Diego
NORDSTROM
Asset Protection - Agent - Baybrook Square Rack
Permanent · Webster
NORDSTROM
Asset Protection - Agent - The Woodlands
Permanent · The Woodlands
NORDSTROM
Asset Protection - Security Ambassador - Yorktown Center Last Chance
Permanent · Lombard
NORDSTROM
Asset Protection - Security Ambassador - Nyc Flagship
Permanent · New York
NORDSTROM
Asset Protection - Agent - Downtown Portland Rack
Permanent · Portland
NORDSTROM
Retail Stock & Fulfillment - Fashion Show
Permanent · Las Vegas
NORDSTROM
Asset Protection - Agent - State Street Rack
Permanent · Chicago
NORDSTROM
Asset Protection - Agent - Hillsdale Shopping Center
Permanent · San Mateo
NORDSTROM
Security Ambassador - Palo Alto
Permanent · Palo Alto
NORDSTROM
Financial Analyst 2
Permanent · Seattle
NORDSTROM
Senior Financial Analyst - Corporate fp&a
Permanent · Seattle
NORDSTROM
Manager - Asset Protection - West County
Permanent · Des Peres
NORDSTROM
Asset Protection - Agent - Somerset Collection
Permanent · Troy
NORDSTROM
Asset Protection - Agent - Southpark
Permanent · Charlotte
NORDSTROM
Asset Protection - Security Ambassador - Laguna Hills Mall Rack
Permanent · Laguna Hills
NORDSTROM
Manager - Asset Protection - Ross Park
Permanent · Pittsburgh
NORDSTROM
Asset Protection - Agent - International Plaza
Permanent · Tampa
NORDSTROM
Asset Protection - Agent - Orchard Place Rack
Permanent · Skokie
NORDSTROM
Retail Stock - Great Lakes Crossing Rack
Permanent · Auburn Hills
NORDSTROM
Retail Stock & Fulfillment - Bellevue Square
Permanent · Bellevue
NORDSTROM
Asset Protection - Agent - West Towne Crossing Rack
Permanent · Madison
Published
Feb 23, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Billabong's first-half loss widens by more than 40%, Americas revenues lift

Published
Feb 23, 2018

Billabong's first-half loss has widened by more than 40 per cent to $18.4 million, while revenue for the six months to December 31 fell 3.1% to $476.5 million, which is reflective of "a challenging industry undergoing tremendous change," according to the surfwear retailer.


Skate fashion brand, RVCA, was the only Billabong group brand to record growth in every region - Rvca


Billabong said the result confirm the January guidance given for underlying full-year earnings to exceed those of the previous year, and fall between $51.1 million and $54 million. 

“The results we are reporting today are consistent with the updated guidance given in January – namely that we would be down in the first half, but expect to be up in the second to deliver full year EBITDA of $51.1 million to $54.0 million – at or just above last year," said ​Billabong's Chief Executive Officer ,Neil Fiske.

Revenues in the Americas lifted 1.1%, or 3.9% in constant currency. Other regions suffered. Total revenues in Asia Pacific were down 4.5% – up 1.3% in retail but down 16.6% in wholesale, while European revenues were down by 6.1% in constant currency.

"The result is reflective of the ongoing difficult trading conditions in retail and much of the action sports sector. While our Americas region has again produced another good result, with EBITDA up 34.1% constant currency year-on-year, it is the smaller half year for that region. In contrast, trading proved challenging in Asia Pacific, where H1 is the larger half," continued Friske.

By brand, Billabong was down 0.5% for the half (up in Americas, down in APAC), while Element was down 13%, "impacted by the timing shift in Europe and a change in distribution strategy in Canada," said Billabong. Skate fashion brand, RVCA, however, was up 9.6% with growth in every region.

The results coincide with Billabong takeover talks with Boadriders.
At the end of 2017, the Queensland, Australia-based company received received an intention to purchase from Boardrider to acquire all of the company's shares for $1 each.

In January, both parties last month entered into a scheme of arrangement, which Billabong said had limited conditions.

Boardriders, which was founded in as Quiksilver in Torquay, Victoria -- now based in California, is majority owned by Los Angeles fund manager Oaktree Management, which also owns 19 per cent of shares in Billabong and is one of its two biggest lenders.

Its brands include Roxy and DC Shoes, as well as Quiksilver.

Copyright © 2022 FashionNetwork.com All rights reserved.