Billabong International Limited’s
(ASX:BBG) chief executive says American investors understand the company’s strategies better than Aussies.
Derek O’Neill told a reporter in New York that Australian investors struggle to understand why the company’s strategy has changed from a primarily wholesale focus business to a mix of retail and wholesale.
In the last financial year, the surfwear company added 250 stores to its list of worldwide outlets, bringing the total to 630.
O’Neill says US sales are strong, and the company’s sales from websites have grown by more than 100 per cent in the past year.
Billabong International Limited
(ASX:BBG) reported a net profit of $118 million for the year to June 30.
