Pierre Agnes, Chief Executive Officer, stated: “Our second quarter performance came in largely as expected with revenues adjusted for currencies and licensed categories essentially stabilized. (..) Currency exchange fluctuations are a major headwind this year, with a negative impact of roughly thirty million dollars to the initial EBITDA guidance for fiscal 2015. Also, we are still working on execution issues that are going to impact our business in the second half of this year.”
 
Net revenue for the second quarter totaled 333 million US dollars, which compares to 397 million US dollars. On a constant currency continuing basis that resulted in 2% decrease in net revenue.

The Americas are still the most important region for the brand’s net revenue, reaching 160 million US dollars, down by 14% on a current currency basis and 4% on a constant currency basis. EMEA follows with 116 million US and APAC with 56 million. Both regions were down in both constant and current currency basis.

Quiksilver net revenue totaled 139 million US dollars, down by 1% on a constant currency category basis and -17% in current currency. Roxy revenue reached 105 million Us dollars, up by 1% on constant currency but down by two digits in current basis (-17%).

DC net revenue, as reported, was 81 million US dollars, a 9% decrease on a constant currency continuing category basis (-21% in current currency basis).

Reported wholesale net revenue totaled 230 million US dollars, down by 4% or 9 million US dollars, on a constant currency continuing category basis. Retail net revenue, as reported, was 84 million US dollars. Same-store sales in company-owned retail stores decreased 3%.

Company-owned retail stores totaled 719 at the end of the fiscal 2015 second quarter compared with 658 at the end of the fiscal 2014 second quarter.

ecommerce net revenue reached 16 million US dollars, down by 6% on a constant currency continuing category basis.

Apparel and accessories net revenue, totaling 232 million US dollars, was down by 2% on a constant currency continuing category basis. Footwear net revenues reached 101 million US dollars, flat on a constant currency continuing category basis (down by 11% on a current currency basis).