Quiksilver down on Q2 report

Filed under: Earnings reports, NIKE, Inc'B' (NKE)

Quiksilver (NYSE: ZQK), an apparel company that, like related name Nike (NYSE: NKE), deals with sports clothing and accessories, is not having a good day. Shares of the business are down in early afternoon trading by over 20%. On Monday, Quiksilver reported Q2 earnings. The market obviously is reticent about them.

According to the press release (note: that link takes you to a .pdf file), Quiksilver saw a drop in sales of 8% after currency effects were stripped out (it's always disappointing when you strip out currency effects and still come out with a drop). The company made $0.05 per share from continuing operations on an adjusted basis. That compares to $0.30 per share in the year-ago period. And that's one heck of a decrease.

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Quiksilver down on Q2 report originally appeared on BloggingStocks on Tue, 09 Jun 2009 14:10:00 EST. Please see our terms for use of feeds.

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