The apparel company reported a loss of -20 cents a share for the fiscal third quarter. Analysts surveyed by Zacks Investment Research expected earnings of 3 cents a share for the quarter. Revenue fell -18.9% from the year-ago quarter to $395.65 million, missing analysts' estimates of $440.3 million for the quarter.
Quicksilver's drop in revenue was due to declines in wholesale revenue in North America and Europe and late product deliveries. Net revenue in the Americas fell 27% in the quarter to $191 million from $261 million, and net revenue from the Europe-Middle East-Africa segment fell 13% to $143 million from $164 million.
TheStreet Ratings team rates QUIKSILVER INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate QUIKSILVER INC (ZQK) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."