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.
ZQK vs. ETF Alternatives
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.
Other News & PR