BILLABONG SHAKEN BY JAPAN EARTHQUAKE

BILLABONG SHAKEN BY JAPAN EARTHQUAKE

BILLABONG has 44 company-owned stores in Japan – 18 of which remain closed following the earthquake.

The stores generate around 60 per cent in revenues for the Burleigh Heads surf apparel giant, with that figure expected to be seriously dented and overall profit guidance to take a 6 per cent hit.

Further impacts could be expected from its 500 wholesale account customers in Japan, although it was too early to assess revenue declines.

Sales in Japan accounts for around 4 per cent of Billabong's global sales revenue and about 3 per cent of earnings.

Billabong reported a net profit of $145.9 million in 2010 and was on track for a similar FY 11 result.

It has now forecast a NPAT fall of between 2 and 6 per cent.

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