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.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)