Billabong's first half loss has shot up by more than 40% to $18.4 million.
Billabong CEO Neil Fiske said this was an expected result.
“The result is reflective of the ongoing difficult trading conditions in retail and much of the action sports sector.
"While our Americas region has again produced another good result, with EBITDA up 34.1% constant currency year-on-year, it is the smaller half year for that region.
"In contrast, trading proved challenging in Asia Pacific, where H1 is the larger half.
"Our global change initiatives are delivering benefits through higher gross margins across all regions, up year-on-year from 51% to 52%.
"However, systemic and structural changes in retail mean the conditions that affected the first half results are likely to prevail in the second half and beyond."
Revenue for the six months to December 31 fell 6.8% to $476.5 million.
Fiske said the result confirmed Billabong's January guidance for underlying full-year earnings of between $51.1 million and $54 million.