Billabong optimistic despite sales dip - sportstextiles: Lea SportsTextiles

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Billabong optimistic despite sales dip

03/03/2017
Surf and ski brand Billabong reported sales of A$508.3 million ($384 million) during the second half of 2016, a 9.5% drop on the same period of the previous year.

It suffered a net loss after tax of A$16.1 million ($12.2 million), but said this was in line with expectations. 

Despite this setback, the CEO of Billabong, Neil Fiske, said a “strong profit lift” in the Americas region gives the company confidence going into the second half of the financial year. Profit before tax in this region more than doubled but sales were down 12.7% following a slow first quarter. 

It blamed weather conditions for sales dropping in Asia Pacific and Europe. The 5.2% decrease in sales in Asia Pacific was attributed to “unseasonal weather patterns”, while the “late onset of wool weather” was cited as the cause of the 13.4% fall in European revenue. 

Related stories:

Billabong begins sell-off of smaller brands 27/02/2017
Billabong looks to sell smaller brands 23/11/2016
Research puts Billabong at the top in surfwear 07/06/2016
Billabong pleased with sales boost, although margins remain a challenge 01/03/2016
Billabong’s US head steps down to ‘surf more’ 11/01/2016
Billabong makes dent in counterfeit products 27/10/2015
Billabong director resigns over conflict of interest 15/09/2015
Billabong posts first profit since 2011 28/08/2015
Billabong ups support for health services through SurfAid 02/04/2015
Billabong returns to profit after three years of losses 27/02/2015

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