Net revenue at the company, which sells its surfing, skateboarding and snowboarding products under Quiksilver, Roxy, DC and Hawk brands, rose 3 percent to $606.9 million.
ASR:Quiksilver decided it would use other, more cost-effective means to meet with its customers including continuing the regular meetings between sales reps, executives and retailers that happen frequently. He also said Quiksilver will revisit its decision and evaluate conditions when the time comes to see if the company will attend the September show.
Liquidity and debt: Quiksilver said banks were more willing to work with the company now that it has sold the risky hardgoods ski business. The company said during the call it has $215 million of available liquidity and $1.07 billion in debt. Quiksilver is currently working with its bankers in Europe and Australia to refinance its short-term debt, and is also negotiating another term loan to supplement its credit availability in the U.S.
Rossignol sale: Bob McKnight said the sale of Rossignol has eliminated a distraction and is helping employee morale move in the right direction. He said he is proud of the "determination and fight" Quiksilver employees have shown in the tough economic climate.
Retail: The company wants to close 25 underperforming stores, including 21 in the U.S. Nine of the underperforming stores will close in fiscal 2009, and Quiksilver will work to close the rest as soon as possible.
Canada: Canada was a bright spot in both retail and wholesale.patthe
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