- Shares of Quiksilver (ZQK +7.6%) have reversed yesterday's AH gains following the apparel maker's lackluster FQ4 report.
- Investors may be happy that management stated its Profit Improvement Plan is on track. Planned divestments (for instance, Mervin) are being executed and management reiterated its 2016 revenue target of ~$2.2B ($400M north of current levels). It sees revenue from e-commerce and retail locations being higher than initially anticipated, and margin improvements from supply chain initiatives.
- B. Riley sees reason for optimism, upgrading shares to Buy from Neutral with a PT of $10 ($6.50 previously). Analyst Jeff Van Sinderen asked about the European business and new store openings on the conference call.
Quiksilver reverses AH losses; Profit Improvement Plan on track, B. Riley upgrade
Dec 13 2013, 12:07 ET