Jeff Harbaugh Analyzes Quiksilver's Financial Situation
Highlights of Harbaugh's Report include details of the company’s organizational changes, the impact of overall market trends, and speculation about taking the company private.
Quiksilver's stock plunged 41% on Tuesday, June 3rd, to an intraday low of $3.13 after the company revealed that it's wholesale revenue had dropped 15% and overall revenue fell 10% from $456 to $408 million during the quarter ended April 30, 2014. The stock price has since climbed back to $3.86 on June 9th, after CEO Andy Mooney and CFO Richard Shields each purchased 100,000 shares.
Quote from Jeff:
"Part of the problem, if I can say it again for the 12th or so time, comes down to the contradiction between solidifying your brands on the one hand and being a public company requiring revenue growth on the other. I continue to see the two as being incompatible."
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