By  on January 5, 2009

Quicksilver Inc. is joining the legions of apparel and retail companies going on a capex diet.

The Huntington Beach, Calif.-based surfwear specialist said in its annual report, filed with the Securities and Exchange Commission last week, that it plans to reduce capital expenditures in the current fiscal year to between $60 million and $70 million, funded “primarily from our operating cash flows and our credit facilities.”

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