Quiksilver experiences lower sales in 2010

According to a provisional data report, Quiksilver’s net sales for the fiscal year of 2010 (ending on October 31st) went down by around 6% to 1.4 million euros. The results were slightly above early projections.

Quiksilver’s Europe president, Pierre Agnès, told French newspaper Les Echos that sales in Europe have declined to 540 million euros due to a 7% decrease in comparison to the same period last year. This was quite a contrast to the company’s 2009 global sales report that registered an increase of 13 to 15% in Europe.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) showed a total increase of at least 30% and 11-13% in Europe. The numbers are thus suggesting that the financial situation is ameliorating and debts should disappear.

Final results will be reported on December 16th.

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