Skip to content Skip to navigation

Rip Curl Holds its Own in 2017

Print Friendly and PDF
  • A Rip Curl store in Hawaii - SES file photo

Compared to many competitors, Rip Curl reported solid financial results for the year ended June 30, 2017.

While Rip Curl is a private company, the company does file an annual report with the Australian Securities and Investments Commission.

According to numerous people with knowledge of the situation, Rip Curl is exploring a possible sale or outside investment.

However, press reports in Australia that a sale is imminent and that Billabong and/or Oaktree Capital Management are serious bidders for Rip Curl are not correct, SES has learned.

Rip Curl’s annual revenue increased 2.8% to A$489.2 million largely due to the expansion of the company’s retail footprint globally, including Rip Curl brand and multi-brand stores.

OUR SPONSORS

While retail conditions remain challenging, Rip Curl is focused on quality sales and is avoiding heavy discounting “despite this being prevalent in the global retail markets,” the company said in its report.

Net profit after tax jumped 83% during to A$18.4 million.

Rip Curl contained expenses during the year and is focused on better utilizing existing infrastructure, and reducing duplication of functions, roles and processes globally. That led to job cuts and $A5.5 million in one-time costs associated with the reorganization.

A 36% increase in cash from operating activities allowed the company to double its return to shareholders and to invest A$12 million back into the business, money that was mostly spent on upgrading and refurbishing company retail stores.

In the current year, Rip Curl is focused on increasing profitability and market share.

OUR SPONSORS

The company expects results to continue to improve due to:

  • Sales and profit growth in emerging markets and multi-brand businesses
  • A focus on reducing margin dilution in all regions.

 

More news

Last updated: : 01/19/2018 - 08:11

A talk with Mike West about new technology that 686 will debut next week that they believe has a broader application beyond the snow world. Plus, lessons learned during 25 years in business, the state of the snow market and more.

Last updated: : 01/18/2018 - 11:29

Executives explain the robust holiday sales for industry customer Journeys. Plus, insights into what is happening with landlords and rents at malls.

Last updated: : 01/17/2018 - 16:43

One category dampened results at the Urban Outfitters chain. Plus, the key internal change that has lead to improved results in women's apparel.

Last updated: : 01/16/2018 - 12:30

How Tom Campion created the results-oriented culture at Zumiez and how that culture came alive in Kelly Sanders, the No. 1 sales person who sold over $1 million in goods in 2017

Last updated: : 01/15/2018 - 09:06

Banks Journal, a clothing brand inspired by coastal living and a love of design, is having a successful start to 2018, especially with fashion accounts

Last updated: : 01/15/2018 - 09:47

We have a comprehensive report from the Swim Collective about upcoming swim trends

Last updated: : 01/11/2018 - 13:42

Kering plans to focus on its luxury roots by exiting Volcom and Puma

Last updated: : 01/11/2018 - 12:03

We spent two days with Zumiez in Colorado and have lots of photos from the 100K event

Last updated: : 01/09/2018 - 08:30

Several news outlets reported GoPro is exploring strategic options, meantime the company is cutting jobs and had to drop prices during the holiday season on some products

Last updated: : 01/10/2018 - 10:06

Cedar Carter, the Director of Marketing for O’Neill Women’s, is exiting the La Jolla Group to join an Australian activewear company called 2XU.