83°

Topics

Quiksilver Incorporated
Quiksilver shares plunge after weak quarterly earnings
Quiksilver shares plunge after weak quarterly earnings

Quiksilver Inc. shares plunged 41% to $3.41 on Tuesday, a day after the surfwear company reported a sizable fall in its second-quarter earnings. Shares of the Huntington Beach retailer, which owns its namesake brand as well as action-sports labels Roxy and DC, dropped as low as 46% drop during the day, the largest intraday decline since the company went public in 1986. "There is an expectation that business will continue to be challenged in the near term," said Mitch Kummetz, a senior analyst at Robert W. Baird & Co. "There is disappointment that changes expected of the new management hasn't really come to pass." Kummetz specifically pointed to plans launched...

Loading