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Details on Industry Insight.
Quiksilver hinted that this would happen yesterday during its earnings conference call. Executives said during the call that it was still working through insurance issues due to the impacts of the hurricane and that the contest was a "big ticket item" and the company was examining the costs.
To read our story from the conference call that has a lot of detail beyond the company's press release, click here.
Here's the official release:
QUIKSILVER PRO U.S. TOUR STOP WILL NOT RETURN IN 2012
Quiksilver and the ASP (Association of Surfing Professionals) today announced that The Quiksilver Pro New York will not return to the East Coast of the United States as a stop on the 2012 ASP World Title Series. The 2011 Quiksilver Pro New York marked the 6th of 11 events on the elite ASP World Title Series
“The 2011 Quiksilver Pro New York event was a huge success for the surfers and fans with great conditions and incredible support from New Yorkers.” says Rob Colby, President of Quiksilver Americas. "Quiksilver is still very much committed to the ASP and the professional surfing tour in 2012 with the Quiksilver Pro Gold Coast (Australia) and the Quiksilver Pro France.”
"It is unfortunate that we announce the cancellation of the 2012 Quiksilver Pro New York," Dave Prodan, ASP International spokesman, said. "The 2011 installment was a fantastic event with excellent waves, tremendous local support and some of the best surfing we enjoyed all season. That said, we understand the factors leading to Quiksilver's withdrawal of the New York event from the 2012 schedule. We appreciate Quiksilver's continued support of the world's best surfers with the Australian and European elite level events in 2012."
For updates and additional information on the 2012 ASP World Tour, please go to: www.aspworldtour.com