Quiksilver to Open Waterman Store at Fashion Island
In late July, Quiksilver Inc. will debut the first boutique for its Waterman collection at prominent retail center Fashion Island in Newport Beach, Calif.
While Quiksilver built its reputation on surfing, Waterman has a broader scope. The high-profile company intends Waterman garments to be worn for surfing, fishing and paddleboarding, a sport that is one of the growth areas for many surf labels.
The 1,300-square-foot space will present an opportunity for a stand-alone store for the collection of men’s clothes for the 30-and-older set, said Bruce Thomas, director of investor relations for Quiksilver. Previously called Quiksilver Edition, the collection has been going by the moniker Waterman since 2009.
Waterman retail price points range from $24 for tank tops to $59 for pants in this men’s collection, which is focused on #8232;T-shirts and boardshorts.
On June 2, Quiksilver reported mixed results for its second fiscal quarter, which ended April 30. Bob McKnight, Quiksilver’s chief executive officer, said the second quarter saw double-digit same-store-sales growth for the company’s American stores and an increase in revenue for the first time in three years. But the company posted a loss of $83.3 million during the same period. For the second quarter of 2010, Quiksilver reported a profit of $9.42 million. The 2011 losses were blamed on asset-impairment charges and a bigger income-tax provision.—Andrew Asch
