Volcom Revenues Down But Operating Costs Cut

Volcom reported $123.2 million in revenue for the first half of 2017,  down 4.4% compared to the same period last year. Wholesale revenue decreased 11.4%, but sales at its 81 stores were up 11.7%. The Californian-based company narrowed its operating loss to $3.5 million, down from $4.7 million in the same period last year.

“As in 2016, operating conditions in the surfwear and action sport market remained very difficult with major distributors in the United States seeing revenue declines and streamlining their store networks,” Kering officials said in a statement.

“Volcom [focused] on the quality of its distribution and product offering. It put in place numerous marketing and communications initiatives during the period which, along with the launch of a capsule collection created with Georgia May Jagger, had a very positive effect on fostering the brand’s appeal and reputation.”

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