SYDNEY — The Billabong saga drags on, with the embattled surfwear manufacturer posting a record full-year loss that is more than triple its market capitalization, its core brand now valued at zero — and its board forced to consider a last-minute alternative refinancing deal.
On Tuesday morning, Billabong’s shares plunged as much as 15 percent after the company reported a net loss after tax of 859.5 million Australian dollars, or $776 million at current exchange, in the 12 months to June 30, a sharp decline from the 275.6 million Australian dollars, or $287 million, loss in fiscal 2012, after writing off 867.2 million Australian dollars, or $783 million, from the value of its brands and goodwill.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"