Wed, Sep. 9, 1:47 PM
- Quiksilver (ZQK) officially files for Chapter 11 bankruptcy to end a long period of speculation on the future of the surfwear company.
- Financing from Bank of America and affiliates of Oaktree Capital Management will keep Quiksilver's operations afloat.
- The bankruptcy does not impact Quiksilver's business in Asia and Europe.
- Previously: Quiksilver looks for a buyer (Sept. 2)
- Previously: Bloomberg: Quiksilver to plan bankruptcy filing as soon as tonight (Sept. 8)
Tue, Sep. 8, 7:06 PM
- Quiksilver (NYSE:ZQK) -60.4% AH following reports that the surfwear chain is planning to file for bankruptcy as soon as tonight.
- As part of the plan, a P-E buyer that owns similar brands will provide debtor-in-possession financing, Bloomberg reports.
- ZQK reportedly had been holding discussions with potential strategic bidders, with the goal of a management-led buyout, ideally outside of a bankruptcy, that would let the company retain its stores.
Tue, Jun. 23, 6:07 PM
- NiSource spinoff Columbia Pipeline Group (CPGX) is taking Allegeheny Technologies' (NYSE:ATI) spot in the S&P 500. Allegheny will join the S&P MidCap 400.
- Also joining the S&P 400: Casey's General Stores (NASDAQ:CASY), Graham Holdings spinoff Cable One, DuPont spinoff Chemours, and the post-spinoff Energizer (NYSE:ENR).
- Getting dropped to the S&P SmallCap 600 from the 400: Unit Corp. (NYSE:UNT), Harsco (NYSE:HSC), and Semtech (NASDAQ:SMTC).
- Also joining the S&P 600: Nektar (NASDAQ:NKTR), Masco spinoff TopBuild, and the new/post-spinoff Gannett (NYSE:GCI). Gannett's broadcast/digital spinoff Tegna (Pending:TGNA) will have old Gannett's spot in the S&P 500.
- Getting dropped from the S&P 600, and not moving up: Aeropostale (NYSE:ARO), Paragon Offshore (NYSE:PGN), PetroQuest (NYSE:PQ), Quiksilver (NYSE:ZQK), and FXCM.
- Leaving the S&P 400, and not moving elsewhere: Peabody (NYSE:BTU) and AOL (acquired by Verizon).
- ATI -1% AH. UNT -0.7%. ARO -1.1%. PQ -1.9%. BTU -1.1%. NKTR +5.2%.
- Press Release (.pdf)
Tue, Jun. 9, 9:17 AM
Mon, Jun. 8, 12:49 PM
Wed, Jun. 3, 7:55 PM
- Elizabeth Dolan has resigned from Quicksilver's (NYSE:ZQK) board, writing "Your lack of trust in me has been made clear" and saying she had been excluded from key discussions and votes. "On my end, this can't be rebuilt."
- Dolan is chief marketing officer for Fox International Channels, and previously worked as CMO for OWN: The Oprah Winfrey Network.
- Quicksilver tumbled amid turmoil earlier this spring when its CEO and CFO were pushed out of the company.
- Shares were up 5.1% today after setting a 52-week low of $1.18 yesterday. Before today's move, the stock was down more than 46% YTD.
Fri, Mar. 27, 12:45 PM
Fri, Mar. 27, 11:46 AM
Wed, Mar. 18, 12:45 PM
Wed, Mar. 18, 9:12 AM
Tue, Mar. 17, 4:33 PM
- Quiksillver (NYSE:ZQK) trades higher after beating estimates on both lines of its FQ1 report.
- Revenue slipped in all three of the company's geographic regions as a higher level of discounting and F/X played a role.
- Gross margin rate -110 bps to 49.7%.
- E-commerce revenue +20% Y/Y on a constant currency basis.
- Guidance: Quiksilver expects FQ2 revenue of $340M. Gross margin rate seen at 48.0%.
- Previously: Quiksilver beats by $0.03, beats on revenue
- ZQK +6.5% after hours.
Thu, Mar. 12, 10:35 AM
- Shares of Quiksilver (NYSE:ZQK) have been volatile this week.
- Activist investor Ryan Drexler issued a new letter to the company urging it to explore a sale.
- Quiksilver has delayed the release of its FQ1 earnings report due to what it calls a revenue cut-off issue.
- ZQK is down 5.2% today and is -25.3% YTD and -79% over the last 52 weeks.
Dec. 12, 2014, 12:46 PM
Oct. 14, 2014, 12:44 PM
Sep. 5, 2014, 12:49 PM
Sep. 5, 2014, 12:38 PM
- Quiksilver (ZQK -29.2%) plunges to five-year lows after FQ3 earnings came in well below estimates and revenues sank 19%
- Excluding currency fluctuations, net FQ3 revenue in ZQK's Americas segment fell 26%, while Europe-Middle East-Africa declined 16%; ZQK's wholesale channel revenue dropped 30%, offsetting retail revenue growth of 1% and e-commerce revenue growth of 10%.
- Cash balance has dropped to $107.8M at the end of July vs. $471M at the end of the prior-year period.
- Janney Capital's Eric Tracy says today's tumble still is not enough to make the shares attractive, as near-term catalysts remain relatively limited while long-term uncertainty remains: he cuts his fair value estimate for the shares to $2.50 from $4.
- This year has been a disaster for ZQK investors, with shares collapsing 77% YTD.
Quiksilver Inc designs, develops and distributes apparel, footwear, accessories and related products, catering to the casual, youth lifestyle associated with the sports of surfing, skateboarding and snowboarding.
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