Quiksilver, Inc. (ZQK) Misses Q3 EPS by 23c

Quiksilver, Inc. (NYSE: ZQK) reported Q3 EPS of ($0.20), $0.23 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $395.7 million versus the consensus estimate of $440.64 million.

“We continued to execute against the key initiatives laid out in our profit improvement plan and to drive growth in our direct to consumer channels and emerging markets,” said Andy Mooney, President and Chief Executive Officer of Quiksilver, Inc. “As we expected, revenues for the third quarter declined in our wholesale channels in North America and Europe. In addition, late product deliveries, largely the result of our transition to global demand planning, negatively impacted our sales performance and gross margin.

“We are resolving the product delivery issues and already see improved fulfillment in the Holiday season. We continued to right-size staffing, redeployed our marketing to invest more in media and point of sale, improved the quality of distribution in North America and completed a number of licensing transactions for peripheral product categories. We are encouraged by the positive feedback we have received on our Spring 2015 product lines, both for apparel and footwear.”

For earnings history and earnings-related data on Quiksilver, Inc. (ZQK) click here.

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