Billabong Sees Some Progress in Complex Turnaround
The Australian company, which is in the midst of a seven-part strategic turnaround under CEO Neil Fiske that involves a dramatically narrowed focus, is encouraged by the Billabong brand’s return to growth in the U.S. and a re-acceleration of the RVCA label in the market. Billabong Q1 wholesale revenues in the U.S. were up 14% and Q2 sales are forecast to rise 8% barring an impact from West Coast port congestion. Spring 2015 U.S. bookings, meanwhile, are said to be up 23%. RVCA, which had flat Q1 revenues and is projected to post an 8% increase in Q2, has a ... Log in to view full article.