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Profitable growth for Quik in Europe
(ispo) -  Quiksilver Europe posted a 4 percent increase in consolidated revenues to €127.8 million in the first quarter of its financial year. During the period, which ended Jan. 31, sales went up by 9 percent in Quik’s own European stores on a comparable store basis, but they were offset by the closure of unprofitable stores and the effect of the warm weather in November and December on the Quiksilver and Roxy brands. 

The DC brand continued to make the biggest contribution to the growth. The gross margin improved again to reach 60.3 percent. Quiksilver Europe’s operating profit before amortization (Ebitda) grew by 1 percent to €17.3 million before exceptional items in the quarter, but at the global level, the group’s adjusted Ebitda fell to $19.5 million from $28.2 million. The group’s net loss increased to $22.6 million from $16.3 million in spite of a 5 percent rise in total revenues to $449.6 million. More in SGI Europe, including coverage of the conference call with financial analysts.

(11/3/2012)

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