Quiksilver reduces revenues and losses in 2015

By

Olivier Guyot

Published
Jan 28, 2016

The Quiksilver group has presented the annual results for its non-calendar fiscal year closed on 31st October, while awaiting judicial approval for its debt rescheduling plan devised by Oaktree Capital.

Quiksilver saw its revenue decline by 14%, falling from $1.571 billion in 2013-14 to $1.346 billion in the latest fiscal year. The group reported only a 1% decline in sales at constant exchange rates, and without taking into account the contribution of licensed products.

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It also recorded an operational loss of less than $190 million, compared to $253 million a year earlier. The group's net loss amounted to $306 million, compared to $318 million in 2013-14.