The board of ailing surfwear group Billabong International has opened its books to rival Quiksilver Inc after receiving a confidential, indicative and non-binding proposal which values the company at nearly $200 million. Quiksilver earlier this year changed its corporate name to Boardriders Inc, which has offered $1 cash per share […]
Billabong posted its second full year loss, this time a negative $77.13 million, up from the $23 million in the red last year, as the surf wear company restructures in a weak retail market. The online surf wear industry has been under pressure with Billabong competitor SurfStitch going into administration […]
Billabong posted a loss of $16.1 million for the six months to December but the surfwear retailer says it expects a lift in earnings in the second half. Sales were down 5.8% to $508.3 million. The company says restructuring costs, including redundancies, and significant items were $9.5 million higher in […]
Former Billabong CEO Matthew Perrin has been convicted of fraud after faking his ex-wife’s signature to get a $13.5 million loan from the Commonwealth Bank. Perrin had been on trial in Brisbane District Court accused of mortgaging his family’s $15 million property in Surfers Paradise without permission from his former […]
Surfwear retailer Billabong posted a full year loss of $23 million, compared to a profit of $4.2 million in 2015, despite a lift in revenue. A short time ago, its shares were down 12% to $1.38. The result was on a 4.5% rise in revenue to $1.10 billion. Its big […]
Billabong is paying out $45 million to end a shareholder class action over earnings downgrades which saw the surf clothing company’s share price tumble in 2011. A short time ago, Billabong shares were down 0.76% to $1.31, well down on the 12-month high of $3.85. “The settlement is without any […]
The turnaround of Billabong to a brand-led global company hit a bump, posting a half year loss of $1.6 million. However, sales grew 7.6% to $561.9 million, net profit before tax was $2.1 million and second half earnings are looking better. The December half was dragged down by a $6.9 […]
Its turnaround strategy is working.
Could be worth hundreds of millions of dollars.
Riding the turnaround wave.
$233.7 million net loss.
Will focus on its own sales online.
Billabong, Quiksilver and Rip Curl
With ex-CEO Derek O'Neill.
Coastal Capital calls for change.