No disrespect but we have been hearing the same excuses for the...

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