Billabong hires help

STRUGGLING surfwear retailer Billabong has appointed Jim Howell, a former executive from US department store group Nordstrom, as its chief financial officer.

Mr Howell, who will be based in California, steps into the role on June 12. He succeeds Peter Myers, who held the role since January 2013.

Billabong chairman Ian Pollard said Mr Howell brought significant retail sector experience and would provide “strong oversight”.

In February, Billabong announced a loss of $16.1 million during the six months to December – a tenfold blowout on its $1.6 million loss during the same period a year earlier.

The retailer forecast earnings from continuing operations of $52 million to $57 million for the year to June. That marked an adjustment from an earlier forecast of $60 million to $65 million.