Quiksilver -27% on disappointing FQ2 results, H2 2014 guidance

|By:, SA News Editor

Quiksilver (ZQK) sells off after hours, -27.3% after disappointing FQ2 earnings and H2 2014 guidance.

FQ2 revenues decreased throughout ZQK's wholesale channel, especially in the developed markets in North America and Europe; Americas net revenues fell 18% Y/Y and 16% in constant currency.

Expects general sales trends of recent quarters will continue into H2, with continued net revenue declines in the North America and Europe wholesale channels; anticipates FY 2014 adjusted EBITDA to come in below 2013's $118M.

Revises the timing for achieving its profit improvement plan adjusted EBITDA target to the end of FY 2017.