INTERVIEW-Surf wear firm Billabong sees global growth

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By Victoria Thieberger

MELBOURNE, May 29 (Reuters) - Australian clothing retailer Billabong International Ltd. (BBG.AX: Quote, Profile, Research, Stock Buzz) said on Tuesday it plans to continue its aggressive international expansion as it struggles to keep up with demand for its surfwear and snow gear. Chief Executive Derek O'Neill also told Reuters the company's sales continued at a strong pace in Europe and the United States in the second half to June 30, and the company was on track for 15 percent earnings growth this year.

"The fact is the availability of our product around the world is far, far less than the demand," O'Neill said in a telephone interview from his Brisbane office.

Billabong shares rose three percent after the comments, to stand at A$18.15 at 0345 GMT. They had earlier been down 0.3 percent.

One of the limitations has been finding suitable retailers to showcase surf, skate and snow gear, especially in cities far from beaches and mountain areas. That has prompted Billabong to open its own stores in Europe and the U.S., including one in New York's Times Square.

"We'll open stores as opportunities present themselves, to help us fill in some of the enormous gaps where we struggle to find suitable retailers to sell our products," O'Neill said.

The company, whose brands include the Billabong and Element clothing ranges and Von Zipper eyewear, has sales in 100 countries and 144 of its own stores around the world, including 50 in the U.S. and 30 in Europe.