Quiksilver Shares Are Crashing

QuiksilverREUTERS/Ulises RodriguezHank Gaskell surfs during the final of the Association of Surfing Professionals 3-Star Copa Quiksilver El Salvador

Surfing apparel company Quiksilver just reported results for its fiscal second quarter and the company’s stock is down about 30% after hours.

The company reported a quarterly net loss, excluding certain items, of $US0.15 per share, steeper than the $US0.02 loss that had been expected by analysts, according to data from Yahoo Finance.

Quiksilver’s sales also came in light, with revenue totaling $US408 million, well below expectations for $US448.6 million. Sales for the company’s namesake label fell 7% for the quarter.

The company also gave a less-than-stellar outlook, saying it expects recent sales trends to continue into the second half o the year, and saying it now expects to become profitable at the end of fiscal 2017. The company just completed the second quarter of its 2014 fiscal year.

Its been an ugly quarter for retailers, as we’ve chronicled in part here and here.

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