Down 6 1/8 (-24%) so far today.....
3Q results due before the open on 9/12/96.....
Quiksilver Inc. announces preliminary sales for fiscal
1996 third quarter
COSTA MESA, Calif.--(BUSINESS WIRE)--Aug. 8, 1996--Robert B. McKnight, Jr. chairman of the board and chief executive officer of Quiksilver Inc Thursday announced that the company will report that sales increased 15.6% to approximately $49.4 million for the three months ended July 31, 1996.
Compared with the previous year, fiscal 1996 third quarter domestic sales increased 4.5% to approximately $31.1 million, and European sales increased 40.9% to approximately $18.3 million. Consolidated sales for the nine months ended July 31, 1996 increased 16.7% to approximately $144.4 million. Nine month domestic sales increased 10.5% to $91.9 million, and European sales increased 29.5% to $52.5 million.
McKnight indicated that the domestic sales increase was less than expected primarily as a result of lower than anticipated reorders during the third quarter, in the young mens product category. However, the company's juniors business which includes Quiksilver Roxy, Raisins and the Radio Fiji brands performed extremely well.
It is anticipated that Quiksilver will announce its fiscal 1996 third quarter and nine months operating results before market opening on Thursday, Sept. 12, 1996.
Quiksilver designs, arranges for the manufacture of, and distributes casual sportswear, snowboardwear and swimwear primarily for young men, boys and young women under the Quiksilver label, and juniors swimwear and sportswear under The Raisin Company label. The company primarily distributes its products in surf shops, specialty stores and selected department stores in the United States and Europe.
CONTACT: Quiksilver Inc., Costa Mesa
Robert B. McKnight, Jr., 714/722-4257
Randall L. Herrel, Sr., 714/722-4261
or
James K. White, 310/437-0655 |
