Net revenue for the first quarter totaled 341 million US dollars compared with 395 million US dollars in similar period in 2013, which reflects  a decrease of 4%, or 14 million US dollars, on a constant currency continuing category basis.

Net revenue in the Americas reached 148 million US dollars compared with 175 million US dollars. On a constant currency continuing category basis, revenue in the region was down by 8%. EMEA net revenue totaled 126 million US dollars compared with 149 million US dollars (down by 3% on constant currency).  Net revenue from the APAC region was 67 million US dollars compared with 70 million US dollars (up by 4%, on constant currency).

Gross margin decreased to 49.7% from 50.8%, reflecting higher discounting, unfavorable impact of currency exchange rates, and higher freight and distribution costs related to the West coast ports labor dispute, partially offset by the favorable impact of higher sales mix in direct to consumer channels.

As for revenue generated by each brand of the portfolio, Quiksilver net revenues totaled 141 million US dollars compared with 164 million US dollars (down 3%, on a constant currency basis). Roxy net revenue totaled 100 million US dollars (compares with 118 million US dollars in similar period in 2013; down by 6% on a constant currency basis). DC net revenue was 89 million US dollars compared with 103 million US dollars in the first quarter in 2014 (DC net revenue down by 4% on a constant currency basis).


Wholesale net revenue totaled 192 million US dollars in the period compared with 239 million US dollars. Wholesale net revenues were down 9% on a constant currency basis). Retail net revenue reached 119 million US dollars compared with 131 million US dollars. Retail net revenue was flat on a constant currency basis. E-commerce net revenue continued to grow from 23 million US dollars in the first quarter of 2014 to 27 million US dollars in quarter one in 2015.

Apparel and accessories are the main category within the company’s portfolio, generated 74% of the company’s revenue. Net revenue for this category totaled 251 million US dollars. Footwear net revenues was up by 1 million US dollars totaling 89 million US dollars. This category of products now represents 262% of the revenue generated (up from 22% last year).

Quicksilver reported a 10.7 million US dollars loss for the period (going down from a 16.2 million US dollars profit in the first quarter last year).