CANADA: Canadian retailer RVCA taken over by Billabong

Billabong International Ltd has acquired Canadian apparel brand RVCA for an undisclosed sum.

Billabong anticipates that RVCA's earnings will equate to around 2% of its revenue and will be earnings per share neutral in the 2010-11 financial year.

CEO Derek O'Neil says the RVCA brand has developed a strong presence in the United States where the bulk of its revenue is generated.

While RVCA's expansion into European and Australian markets is in its infancy, Billabong says they will grow the brand while leveraging the distribution and supply chain infrastructure and support of the Billabong group.

Billabong has also responded to earlier media reports that US sporting goods chain Zumiez plan to outbid them on their planned West 49 acquisition.

Billabong says it will monitor the situation, as Zumiez conducts due diligence to determine if their proposal will be financially superior to the Billabong offer.

Billabong International recorded a profit of $152.84 million for the year ending 30 June, 2009.

Send your News/Releases for publication to [email protected]
Added: July 13, 2010 Source: Agencies
Start script - 1534673709.1505 Start news id check - 1534673709.1506 After news id check - 1534673709.1509 After cookie_code - 1534673710.015 Before news detail - 1534673710.015 After news detail - 1534673710.0162 Start cat select - 1534673710.0162 After cat select - 1534673710.0164 before preg replace - 1534673710.0165 After preg replace - 1534673710.0165 Before tag engine - 1534673710.0165 After tag engine - 1534673710.0203 Before mptt engine - 1534673710.0203 After mptt engine - 1534673710.0203 Before related engine - 1534673710.0203 After related engine - 1534673710.023 Before update hits - 1534673710.023 After update hits - 1534673710.0232 After update news_hits - 1534673710.026 After mem_only_views - 1534673710.026 -------------------------------------------------- Total Exec time:- 0.87549996376038
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2018. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 19-08-2018