By Olivia Oran
Feb 6 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.