Billabong International Limited (ASX:BBG) has trimmed its full year loss to $233.7 million as it pushes its turnaround strategy into full swing.
The surfwear company says underlying earnings grew in Australia and Europe while weakness came from poor sales in the Americas.
CEO Neil Fiske says the company’s seven part turnaround strategy is gaining traction as it’s significantly stabilised, restructured and refocused the business.
The company recently sold two online retailers and says the focus will be on growing the core brands of Billabong, RVCA and Element while reducing the number of stores and controlling costs.
No dividend has been declared.
