Quiksilver’s 10-K Report Reveals Increased Net Revenue
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- January 02 2009
- 727 views
- 20 comments
Quiksilver’s 10-K report, published Wednesday, December 31, showed the company’s total net revenues for fiscal 2008 increased 11% to $2,264.6 million from $2,047.1 million in fiscal 2007 primarily as a result of changes in foreign currency exchange rates and higher unit sales. An excerpt from the report states:
“Revenues in the Americas increased 7% to $1,061.4 million for fiscal 2008 from $995.8 million in the prior year, while European revenues increased 16% to $933.1 million from $803.4 million and Asia/Pacific revenues increased 9% to $265.1 million from $243.1 million for those same periods. In the Americas, the increase in revenues came primarily from DC brand revenues, partially offset by small decreases in our Quiksilver and Roxy brand revenues. The increase in DC brand revenues came primarily from growth in footwear and apparel product lines. The decrease in Quiksilver and Roxy came across all product lines except for increases in our Quiksilver footwear and Roxy apparel product lines.”
To read the full report, click HERE. Stay tuned to Transworld Business for a complete financial analysis from Jeff Harbaugh on Monday.
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January 2nd, 2009 at 6:52 pm
Wow! I think I’ll buy tons of stock…NOT!!!
January 2nd, 2009 at 7:00 pm
So is this a good report or bad report , are they more like mcd or billabong ?
January 3rd, 2009 at 12:29 pm
Come on Bob Crack that whip and cut loose all the dead weight!
January 3rd, 2009 at 3:55 pm
Quik should have been better forecasters and cut some dead weight a long time ago. In this changing global economy companies must be forward thinking. Companies like FedEx who are extremely profitable but envision a challenging global economy had all management and salaried employees take a pay cut. I think this is a unique solution to lowering costs vis a vis the traditional methods. Yet not hurt productivity as much as with laying people off. The transaction costs of hiring, keeping and training employees is rather high based on a multiple and you also lose the economies of learning that the employees have incurred during their tenure. Lastly it doesn’t hurt the national economy as deeply as large scale layoffs.
That all being said Quik has been behind their peers in nearly every financial metric utilized to value a company (ROE, ROA, Gross and Operating Margin, EBIT etc) and they need a changing of the guard to change this. The current team is not producing and we all know that management capabilities are the difference maker in business today. Just read Good to Great and this will be evident.
I still have quite a bit of Quik stock and I’m confident due to their brand stable and brand equity it will go up. I actually just heard from a few shop owners that Quik Womens is doing rather well.
Cheers,
therookery.ning.com
January 3rd, 2009 at 5:36 pm
M.R.; I have nothing but respect for your insights and post , when i see you on latest post i check it out . I am a lttle confused on this one though , your view of the report card is in blk + wht but; and this is a question.
How would you revive the management in a situation like Quik’s ? Seems if you lose the Senior Management and you lose the vets , cut them too hard and you run the risk of someone else seeing them as a hired gun ?
Obviously Stockholders are not going for ” it’s a rebuilding year ”
Just interested in how you would play it , obviously not going make any difference. Thanks . Rk
January 3rd, 2009 at 8:52 pm
RK–Thanks for the kudos, check the blog at therookery.ning.com -To be honest I have no personal experience with any executive at Quik in their current form. However I have some personal friends who are top notch talent who have left there in the last 3-4 years. For all I know they have the best management in the business but if you look at the operating numbers over the last few years they come up short in nearly every category compared to their competition (Nike, Volcom, Billabong, VF etc). The aspect that I’m most concerned with is their SG and A expenses as this to me indicates a fat ship. I can handle margins and inventory being off the industry averages for short periods of time but when SGA is constantly higher by percentage I think they have to move to action and move to action quickly.
I wish I had more of a birds eye view so I can expand with more detail but that would be irresponsible since I don’t have any personal interaction with any high level managers at the company. However the two folks who left are top notch and are running smaller brands now. If they were still there I would own a lot more Quik stock then I do now.
Word
January 3rd, 2009 at 10:37 pm
It’s not rocket science, nor is it untendered soil:
what are your core competencies?? advance at them and follow through.
January 4th, 2009 at 12:03 am
Love that untendered soil analogy !
So , move rook to bishop 4 , take the double jumper , roll doubles and buy Parkplace , got it !
January 4th, 2009 at 12:08 am
Thanks MR ! In my humble opinion , this would NOT be a better world without Quik and the family of brands there. God’s speed to them and your Quik holdings .
January 4th, 2009 at 3:24 pm
I agree 100%,
I personally still think there is a lot of life in their brands and I may even increase my holdings. Although American Apparel at $1.80 looks enticing as well. They have been killed with their new CFO announcement and debt restructuring however their same store sales are growing nicely and their current international expansion is unmatched. Not to mention they are one of the only brands that can create new products from concept to shelf in 1-2 weeks. To me this is a true value propositions to its consumers and will create sales growth and solid inventory management capabilities.
Much love,
January 4th, 2009 at 3:30 pm
Thanks RK and I concur with both you and Joe. I might have to up the holdings in both Quik and American Apparel.
January 5th, 2009 at 8:41 am
how about you go surfing instead
January 5th, 2009 at 10:20 am
Already have ! air a little cold for my liking but water not too bad and waves smallish but fun, sun is out finally . Life is good here and i just know masterminds like you will be fixing wall street any minute now and jobs will abound and “shop till you drop” will reign again thus providing me with a comfortable income , thanks very much wall street . Does your boss know you spend all your time making inane judgements on the web ?
January 5th, 2009 at 9:08 pm
all his time? dude man one comment that went way over your head, btw.
January 5th, 2009 at 11:09 pm
Where i work ,anytime is all the time . btw , you failed to notice the subtle profoundness of the return volley ! So who feels the breeze above thier head now.
January 6th, 2009 at 8:03 am
Wall Street,
Surfed the Cliffs the last 3 days. Sunday was a blast. Come out and meet as I would love to give you a few pointers. Whether it would be putting more rail into your turns or your blogging strategy.
Word,
January 6th, 2009 at 10:02 am
MR F@#$ING RULES , All you cats down on Post Street need to recognize , you can’t judge a book by it’s cover *lover.
* just threw that in cuz it rymes , don’t get your panties in wad and don’t get the gay thing going like that moron that keeps giving Duke grief . Duke is one of the best dudes ever in this or any bizness!
January 6th, 2009 at 10:40 am
Also , forgot to add , i get the whole , better to go surfing than buy those stocks slam , just don’t agree.