Quiksilver to Expand by 30 Stores

Sportswear maker Quiksilver Inc. said it plans to open as many as 30 stores this fiscal year as it boosts its capital expenditures.

The Huntington Beach company estimated its capital expenditures at $18 million to $22 million, an increase from $16.4 million last year, when Quiksilver focused expansion on stores and in-store shops, and adding computer equipment.

From eight to 10 of the new stores, called Boardriders Clubs, will be company-owned, Chief Financial Officer Steven L. Brink said Monday in an interview with Federal Filings Business News.

Quiksilver opened eight Boardriders Clubs in the U.S. and 15 in Europe in the fiscal year ended Oct. 31, the company said in a report filed Friday with the Securities and Exchange Commission.

The company also said it has earmarked some of its capital budget toward improving its computer systems, the filing said.

During the last fiscal year, Quiksilver also opened 216 Quiksvilles--sections within department stores or surf shops set aside for the Quiksilver brand. At the end of the fiscal period, the company had 1,118 in-store shops, 817 in the United States and 301 in Europe.

The stock, which has more than doubled in the last year, closed Monday at $23.90, up 84 cents a share, on the New York Stock Exchange.

Quiksilver designs and distributes Quiksilver and other brand-name casual wear, snowboard wear and swimwear for young men and women and boys.