Quiksilver Expects MBO To Seek Sale

In the last two quarters, QuiksilverInc.'s net operating losses narrowed to US $37 million 594 thousand from US $53 million 124 thousand in the same period last year. We failed to make a profit in the 7 quarter, and $0.22 per diluted share, which is much higher than the US $0.14 expected by the market. Revenue fell by 16.1% to $333 million 100 thousand a year, less than $341 million of market expectations, and fixed exchange rate fell by 2%. Same store sales decreased by 3% per annualized year. In fixed exchange rates, Quiksilver brands and DC brands recorded a decline of 1% and 9% respectively, while Roxy grew by 1%.

This year's share price plunged 80% due to sluggish performance. Wave dress Retailer QuiksilverInc. (NYSE:ZQK) is seeking sale to avoid liquidation.

Bloomberg quoted sources as saying that QuiksilverInc. is now negotiating with potential strategic investors. Its goal is to manage the company's financing for acquisitions, hoping to maximize the retention of existing businesses and stores. Otherwise, the liquidation will have to abandon the expensive lease to attract buyers.

QuiksilverInc. is now the chief executive officer of PierreAgnes, who has been serving the company for 27 years and was promoted to the president of the company in November last year. GregHealy, the former Asia president, and BobMcKnight, co founder, returned to the company in March this year.

It is reported that QuiksilverInc.7 has hired a restructuring consultant PeterJ.SolomonCo. as a financing and selling consultant, and FTIConsultingInc. has also provided assistance to the company in its operation. QuiksilverInc. has been prompted by shareholders since last year, and Bloomberg sources said that if they could not find a buyer to take over, brand management companies like AuthenticBrandsGroup could produce Quiksilver and Roxy brands. Interest 。

The withdrawal of performance expectations for the current 2015 fiscal year in June 9th has led to a sharp fall in share prices and a 31.6% break below 1 US dollars. The average closing price of QuiksilverInc. (NYSE:ZQK) has been below $1 and has been delisted by the New York stock exchange. Wednesday, Bloomberg reported that QuiksilverInc. (NYSE:ZQK) intraday price surged 32%, followed by a rapid decline, Wednesday's Day rose 7.9%, at 0.45 U.S. dollars.

Chief executive officer PierreAgnes In the two quarter earnings report, this year's sales and gross margin of the North American market will be delayed by the delay in delivery and the implementation of the distribution channel strategy. Therefore, the group's original expectation of a substantial improvement in the second half of the year in North America will not be realized. He said the group still had confidence in the above expectations, but the time would be postponed. In addition, PierreAgnes expects unfavorable exchange rate fluctuations to affect annual performance.

QuiksilverInc. will announce its three quarter results on Wednesday, September 9th.