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Quiksilver falls out of investor fashion
Shares in Quiksilver have been out of favour on Wall Street, recently shedding 1.31 to 12.33. The company posted a sharp drop in fiscal third-quarter EPS, to 4 cents from 20 cents one year earlier but chalked it up to an expected negative impact from its seasonal Rossignol business and stock option expense, which offset a 41% sales rise. Worse, Quiksilver cut its fourth quarter guidance. Market reaction overall was mixed, with the brand still being considered a major player in sports apparel with significant potential for growth.
