First Billabong reported that things in the branded boardsports fashion market weren’t going well and now Quiksilver adds in that things are going to get even worse, according to a story in the Sydney Morning Herald.
“We expect fourth quarter . . . revenues to be down 15 per cent after accounting for a weaker translation rate on the euro and the marked decline in consumer demand in the Asia-Pacific region,” Mr Scirocco said. . . Quiksilver posted a 12 per cent fall in third-quarter revenue to $US441 million ($481 million). Revenue in the Americas – dominated by a recession and high unemployment – was down 9 per cent but there was a 10 per cent drop in the Asia-Pacific region primarily due to market weakness in Australia. . .
Looks like Q1 2011 is going to be pretty bad. Get ready.
[Link: Sydney Morning Herald]
