Billabong news and archive

Boardriders announces new leadership structure after Billabong acquisition

As the Boardriders Inc. prepares to takeover Billabong International Limited today, it has announced changes to its top leadership team. After tragic disappearance of ex-CEO Pierre Agnès at sea in February, Dave Tanner stepped into the position. The company has now announced that the following appointments take effect after the closing of the...

Business

Boardriders officially to acquire Billabong brand

Boardriders just announced that its shareholders of Billabong International Limited have approved Boardriders' proposed acquisition of Billabong. Boardriders, Inc. currently owns and operates various sportswear brands including DC Shoes, Roxy, and Quiksilver. "We believe that this transaction represents the best value for all stakeholders –...

Business

Billabong losses widens in the first half

Billabong’s total sales of 508.3 million Australian dollars (392 million dollars) were down 5.8 percent on constant currency, taking the sale of Sector 9 into account. Group EBITDA excluding significant items of 29.3 million Australian dollars (22 million dollars) was down 21.1percent as reported and 20.9 percent on constant currency. Commenting...

Business

Billabong sells swimwear brand Tigerlily to Crescent Capital

Billabong International has said that it has finalized the sale deed of its Tigerlily business to Crescent Capital Partners. The company said, this transaction is in line with Billabong’s strategy to simplify its brand portfolio. Billabong said, sale of Tigerlily will raise 60 million dollars, with net proceeds from the sale used to retire debt....

Business

Billabong mulls over the sale of its smaller brands

London - Billabong is currently considering lightening its load by selling off a number of its brands such as VonZipper, Tigerlily and Xcel to help shrink down its 270 million dollar debt. During the Australian company's AGM, president Ian Pollard underlined Billabong's aim to turn its focus on strengthening its core brands Billabong, Element...

Business

Billabong expects to report EBIDTA growth in FY17

Total group sales excluding discontinued operations at Billabong were up 4.6 percent to 1.1 billion dollars, while on a constant currency basis the total sales were down slightly for the year. Revenues of the three big brands — Billabong, Element and RVCA — were up 5.3 percent globally. While first half EBIDTA is expected to be down due to...

BusinessFeatured

Billabong swings to full-year loss, sales up 4.6 percent

Billabong International’s total Group sales were 1.1 billion Australian dollars (839 million dollars), up 4.6 percent for the full year to June 30, 2016. Sales were down 1.4 percent on a constant currency basis. The company said, its big three brands continued to grow in global wholesale equivalent revenue - up in total by 5.3 percent for the...

People

Billabong Director Sally Pitkin announces her retirement

Billabong International has said that Sally Pitkin has intimated the company that, in order to dedicate time to her recent appointment as a member of the Northern Australia Infrastructure Facility, she will be retiring as a Director of the company effective August 15, 2016. Pitkin served Billabong for the past four and a half years and also...

Business

Billabong International sells skate brand Sector 9

Surf-inspired company Billabong International Ltd. recently just announced plans to sell one of its skate brands. The Australia-based company will be selling its Sector 9 brands for 12 million dollars, as reported by WWD. The deal includes selling Sector 9 to an affiliate of Bravo Sports. The brand will join the company’s portfolio of other...

Business|REPORT

After booking profits, Billabong swings back to loss in H1

Billabong International for its half-year to December 31, 2015 said that total group sales were up 7.6 percent and down 0.8 percent on a constant currency basis. The Group's big three brands grew in wholesale equivalent revenue (including sales to own retail) with Billabong up 2.6 percent, Element up 9.1 percent and RVCA up 20.6 percent on a...

Business|ANALYSIS Featured

Billabong shares drop 15 percent on lower Australian dollar dents Q1FY16 results

Shares in Billabong have leaped after the surfwear and skateboards retailer revealed the lower Australian dollar and weakness in the North American market had dented earnings in the first four months of fiscal 2016. In an address to shareholders at the company’s annual meeting Tuesday, Billabong chief executive Neil Fiske said earnings before...