QUIKSILVER INC. SAID THURS-day that the company swung to a third-quarter profit from a year-ago loss.
For the three months ended July 31, income was $2.9 million, or 2 cents a diluted share, versus a loss of $7.9 million, or 6 cents, in the year-ago quarter. Income from continuing operations dropped 7.4 percent to $33.1 million, or 25 cents a diluted share, from $35.7 million, or 38 cents. Without a 3 cent tax benefit, earnings from continuing operations for the most recent quarter were 22 cents a share.
Revenues rose 6.9 percent to $564.9 million from $528.6 million. Figures include results from Rossignol, the winter sports equipment and apparel operation that is being sold.
Analysts expected earnings from continuing operations of 21 cents a diluted share on sales of $543.9 million.
Quiksilver said last month that the group buying Rossignol includes Chartreuse & Mont Blanc, which is run by former Rossignol chief executive officer Bruno Cercley. Chartreuse & Mont Blanc is owned by the Australian financial services company Macquarie Group. The deal for $147.6 million is expected to close in the fall.
For the nine months, Quiksilver’s loss widened to $225.3 million, or $1.74 a diluted share, from $10.2 million, or 8 cents, during the same period last year. Excluding discontinued operations, profits were up 9 percent to $79.4 million, or 61 cents, from $72.8 million, or 56 cents.
Revenues rose 13.6 percent to $1.66 billion from $1.46 billion.
“Our performance overall was in line with our expectations and we are relatively pleased to deliver results in this range, given the negative trends we’ve all witnessed during the quarter in the retail environment,” said Robert B. McKnight Jr., chairman, president and ceo of Quiksilver.
The company said that it believes it can achieve earnings per share of slightly less than 90 cents for continuing operations for the fiscal year.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia