Billabong pleased with sales boost, although mar - sportstextiles: Lea SportsTextiles

News

Billabong pleased with sales boost, although margins remain a challenge

01/03/2016
Surf and ski brand Billabong has reported sales of just over $400 million for the half-year period to December 31, 2015. This represents an increase of 7.6% compared to the same period a year earlier.

Earnings suffered, though, registering an after-tax loss of more than $1.1 million, compared to a profit of more than $18 million a year earlier, although that figure was boosted by one-off gains on asset sales. “Gross margins were down due to pressures from excess inventory which followed the West Coast US port strike early in calendar 2015,” Billabong said.

Pleased with the increase in sales, chief executive, Neil Fiske, commented: “This is a brand-led turnaround and our big three brands [Billabong, Element and RVCA], where we placed our focus, grew globally. As we get inventories back in line, we believe margins will recover.”


Related stories:

Billabong optimistic despite sales dip 03/03/2017
Billabong begins sell-off of smaller brands 27/02/2017
Billabong looks to sell smaller brands 23/11/2016
Surftech names new CEO 05/05/2016

Sportstextiles.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.