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SBD/January 14, 2011/Finance
Golfsmith Sees Best Q4 In Four Years; Quiksilver Eyeing Rebound
Published January 14, 2011
SURF'S BACK UP: Quiksilver Chair & CEO Bob McKnight Thursday discussed the company's rebound after its stock price dropped to under $1 a share. He said it "does feel great to actually go back to working on product and marketing and team riders and events and reconnecting with our core accounts and all those things we are now able to do, where the past 18 months have been stuck in a board room and locking down the finances." McKnight said it was "very rewarding for the company to be able to de-lever the company the last year, work on efficiencies and bring the company back to very good profitability." McKnight: "We're back to what we do best. We're going to be focusing on our brands." He noted Quiksilver has some new initiatives, and the company is "going to be working on our expansion geographically." McKnight: "Now we can really push those brands and work on the distribution." McKnight added the company's "focus is the 14-18-year-old girl/guy, and as long as we make products for them that's innovative and exciting, then we'll be cool forever" (Fox Business, 1/13).