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  SurfStitch closing SurfStitch

Industry customer SurfStitch is closing down its SurfStitch Europe business and consolidating operations under its Surfdome banner.

SurfStitch, which also owns Swell, acquired Surfdome, the largest European online action sports retailer, in December 2014.

Surfdome is a significantly larger business than SurfStitch Europe, which was launched just a few years ago.

For example, Surfdome had 25.7 million annual visitors to its site in fiscal 2014, while SurfStitch Europe had 6.7 million, according to company filings.

A visit to the Surfstitch Europe site today directs shoppers to two choices: Surfdome or SurfStitch Australia.

The closure will hurt some industry brands, which were notified Monday that current and future SurfStitch Europe orders are being cancelled. 

As part of the consolidation, Surfstitch is also closing the Surfstitch warehouse and office operations in Hossegor, France.

SurfStitch joined the public markets in Australia late last year. The company said yesterday that earlier-than-expected completion of the European consolidation led it to raise its EBITDA guidance for the fiscal 2015 to $7 million, up from the previous forecast of $5.1 million.

That forecast excludes one-time costs associated with the SurfStitch Europe closure, the IPO and the separation from Billabong, among other items.