Billabong’s Sinking Sales

Billabong’s Sinking Sales

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Gold Coast, Australia based Billabong International Limited has announced that its total Group sales is down 9.5 per cent year-on-year, and down 7.6 per cent on a constant currency basis.

Earnings before interest, tax, depreciation and amortisation adjusted for significant items was down 21.1 per cent as reported and 20.9 per cent. Their Net loss after tax stood at a staggering Au$16.1 million.

The brand is looking at restructuring and adjusting their business plan to cope with the sudden trend of sinking sales.