– QUIKSILVER REPORTS LOSS: Despite revenues that jumped 14 percent, Quiksilver Inc. posted a first-quarter loss of $21.9 million, or 18 cents a diluted share, compared with earnings of $2.5 million, or 2 cents a diluted share, in the year-ago period. The Huntington Beach, Calif.-based active company’s sales gains, particularly in apparel, were dragged down by higher costs of making goods and higher selling, general and administrative expenses. Stripping out discontinued operations, the loss was 12 cents a diluted share. Sales climbed to $605.3 million, compared with $528.7 million last year. Apparel sales gained 19 percent, to $500.5 million from $421.5 million.
– ADIDAS CREATES MICOACH: Adidas and Samsung have partnered to create miCoach, a real-time interactive training system that collects personal data to create training plans based on fitness level and goals. The miCoach system combines several gadgets: a mobile phone, camera, MP3 player, FM tuner, heartbeat monitor and stride sensor chip to fit all Adidas running footwear, a voice-simulating personal coach and the miCoach Web site to create tailored training programs. Starting later this month, miCoach will be sold throughout Europe in Adidas and Samsung stores, as well as select retail partners, then in the U.S. next year. According to Adidas, this is the first of many products to come from the Adidas and Samsung partnership.
This story first appeared in the March 7, 2008 issue of WWD. Subscribe Today.