RPT-Australia's Billabong says may sell e-commerce businesses
By Olivia Oran
Feb 6 (Reuters) - Billabong International Inc said on Thursday it is considering a sale of its two e-commerce businesses as the Australian surf wear company looks to refocus on its core brand.
The embattled maker of board shorts and wet suits, which was saved last year by a refinancing deal from U.S. private equity firms Centerbridge Partners LP and Oaktree Capital Management, is looking at strategic options for its SurfStitch and Swell site. It has appointed investment bank Guggenheim Securities to help with the review.
Billabong owns all of North American-based Swell and 51 percent of Australia and Europe-focused SurfStitch.
The company named Neil Fiske, the former president of Eddie Bauer Holdings and Bath and Body Works, as its CEO last year in an effort to revive the brand.
Companies that operate in the so-called surf and skate category have struggled recently.
Zumiez Inc reported on Wednesday that January comparable store sales had fallen 7.6 percent.
Quiksilver Inc, meanwhile, has been selling assets, including snowboard manufacturer Mervin Manufacturing, in an effort to slim down.