Analysts at Lazard Capital maintain their “buy” rating on Quiksilver Inc (ZQK), while reducing their estimates for the company. The target price has been reduced from $6 to $3.
According to a report from Reuters, Quiksilver has hired investment bank Peter J. Solomon to help the company find funding or an investor to help improve the company’s current liquidity.
Quiksilver, Inc. (ZQK) announced its results for the first quarter ended January 31, 2009 this afternoon. Consolidated net revenues from continuing operations for the first quarter of fiscal 2009 decreased 11% to $443.3 million from $496.6 million in the first quarter of fiscal 2008.
Quiksilver is actively working on expanding its positioning and brand strength in the German market and has opened seven new stores there in the last several months.
This weekend, the Quiksilver Limited Collection is setting up shop in the fashionable Santa Barbara boutique, Blue Beetle, to celebrate the arrival of its spring line. Blue Beetle is handing over the store’s
front section and a State Street-facing window to install a shop-within-shop concept, which will showcase a wide range of styles from the new season of the Quiksilver Limited Collection.
Modeled after the surfboard shaper’s bay, this shop-within-shop will feature elements such as surfboard templates, classic surfboards, shapers’ tools and knick-knacks, vintage wetsuits, a wall collage of retro and contemporary surf art, photographs and posters, and a custom-made fiberglass display table which is resin-stained with art and colors reflective of designs in the Spring Limited Collection.
To celebrate the installation’s opening, there will be a special promotion to customers this Saturday, March 7. Along with drinks, hors d’ouvres and music, shoppers will enjoy 20% off all new spring Quiksilver Limited merchandise, and receive a gift with purchase while supplies last (see attached invite for full details).
The Quiksilver Limited Shop at Blue Beetle is open for business for the next six weeks. After that time the line will be moved to its permanent position along the inner front wall of the store. Here’s a video of the installation of the space:
Companies are looking just about everywhere these days to tap in to new customers’ wallets and/or purses and it seems one hot new way of doing this is through “gender-bending marketing.”
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.
Uniqlo is among the many rumored entities interested in Quiksilver. The “fast fashion” retailer has found incredible success in Japan by using collaborations, quickly reacting to trends, and offering affordable apparel to its customers. Whether the company is actually interested in acquiring Quiksilver or DC—or any other action sports company for that matter—is purely fodder for the rumor mill at this point, but this video sheds a little light on the identity of the retailer for those who may not have heard of them.