DC is opening a new door in the Miracle Mile Shops in Vegas at Planet Hollywood. The store will feature men’s product exclusively.
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A February 11 report on Bloomberg.com further explores speculation that Nike and VF Corp are interested in acquiring Quiksilver. Eric Tracy, an analyst with BB&T Capital Markets in Vienna, Virginia says If Quiksilver sells only its DC Shoes unit, for an estimated $530 million, it could reduce its $1.1 billion in debt.
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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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