Billabong Posts Record A$537 Million Loss on Brand Writedown

Billabong Posts Record A$537 Million Loss on Brand Writedown

Ian Waldie/Bloomberg

A customer enters Billabong International Ltd.'s Pitt Street store in Sydney. Billabong became a takeover target last year as it sold inventory below cost to clear shelf space, paid penalties to break store leases early, cut the value of its brands and posted its first annual loss since a 2000 listing.