TORQUAY surfwear giant Quiksilver has posted nine per cent revenue losses in its regional breakdown of quarterly earnings, according to a report released last week.
The bleak outlook for the brand follows neighbouring Torquay brand Rip Curl last week abandoning its plans to sell.
The Independent reported in September that troubled Queensland-based surfwear firm Billabong had rejected a takeover bid from US private equity firms after floundering sales and store closures.
Quiksilver posted that its Americas net revenue fell nine per cent to $186 million from $205 million.
But the company’s Asia-Pacific revenue fell one per cent to $73 million from $75 million.
The company’s global brand lost $US13 million in revenue, while its women’s label, Roxy, lost $US9 million.
Chief financial officer Richard Shields blamed the company’s “wholesale channel” for up to 85 per cent of both brands’ revenue losses.
Recently appointed chief executive Andrew Mooney told market analysts the company would not discount price points in Australia, believing the Australian market was “on track”.
A spokesperson for Quiksilver’s international office in Torquay said the company’s 200 jobs in the town were safe despite the latest results.
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