Pursuits
Quiksilver Plunges After Struggling Chain Abandons Forecast
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Quiksilver Inc. suffered its worst stock decline in more than a year after posted disappointing second-quarter results and abandoning its annual forecast, stoking concern that the teen-apparel chain is in turmoil.
Continuing operations lost 22 cents a share last quarter, the Huntington Beach, California-based company said in a statement Tuesday. Analysts had predicted a 14-cent deficit on average, according to data compiled by Bloomberg. Sales fell 16 percent to $333.1 million in the period, also missing estimates.