No disrespect but we have been hearing the same excuses for the last few years. The market is very price conscious with products. Why should I buy a pair of Billabong boardshorts or T/ shirt when I can get it for a fraction of the price from retailers such as Cotton On, Factorie, Big W etc. Just so you are aware Quiksilver made all their design team in Torquay redundant and they all went to Cotton On and are making the same product for 1/3 of the price.
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You have the same people in the business as always Shannan North etc who still are running the business like the glory days of the mid 2000's. I know this for a fact as I have friends in the business still and they say that the morale is at a all time low with people still being made redundant every month and still no turn around. Time will tell
Ann: AGM Chair and Managing Director & CEO Addresses, page-5
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