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BUSINESS
September 9, 1997 | PATRICE APODACA, TIMES STAFF WRITER
Oakley Inc., still trying to recover from disappointing sales of its eye wear, announced Monday that Chief Executive Mike Parnell is being replaced by Link Newcomb, the company's chief operating officer. Parnell, who has been chief executive since 1986, will remain with the manufacturer of pricey sunglasses as vice chairman, focusing exclusively on sales and marketing.
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BUSINESS
September 9, 1997 | PATRICE APODACA, TIMES STAFF WRITER
Oakley Inc., still trying to recover from disappointing sales of its eye wear, announced Monday that Chief Executive Mike Parnell is being replaced by Link Newcomb, the company's chief operating officer. Parnell, who has been chief executive since 1986, will remain with the manufacturer of pricey sunglasses as vice chairman, focusing exclusively on sales and marketing.
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BUSINESS
April 3, 1998 | Russ Stanton
Oakley Inc. said it acquired the distribution rights to Canada from its Montreal-based distributor for an undisclosed amount. The deal gives Oakley greater control of its products and growth opportunities as the company expands beyond sunglasses, Chief Executive Link Newcomb said. The Foothill Ranch sunglasses maker plans to roll out an athletic shoe later this year and also is developing a wristwatch. Oakley's Canadian distribution has been handled by Outdoor Gear Canada since 1982.
BUSINESS
February 12, 2005
* May Department Stores Co. had its credit rating outlook changed to negative from stable by Standard & Poor's because of declining sales. * American farmers will see their net income fall to an estimated $64.4 billion in 2005, down $9 billion from the record set in 2004 because of lower prices for corn, soybeans, pork and other commodities, the Department of Agriculture said. * Starbucks Corp.
BUSINESS
April 18, 1997 | GREG JOHNSON
Oakley Inc.'s stock fell by $1 a share to $11 on Thursday in New York Stock Exchange trading following word that its first-quarter net profit had fallen below analysts' estimates. The upscale eyeglass manufacturer reported $500,000 in net income, or 1 cent per share, compared with $11 million, or 15 cents per share a year ago. Analysts had anticipated that the sunglass manufacturer would generate a profit of at least 3 cents per share.
BUSINESS
June 12, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
Oakley Inc. will open its first store next month, part of a broad push under a new chief executive to increase the company's visibility and expand each of its product lines. During Oakley's annual shareholder meeting Friday, new CEO William D. Schmidt outlined steps the Foothill Ranch-based company will take to boost its brand, including hiring an outside advertising agency for the first time.
BUSINESS
March 12, 1997 | Times Staff and Wire Reports
Minneapolis-based Jostens Inc. said it will close its Porterville plant, fire 200 workers and take a $3-million, first-quarter charge to cover the cost. . . . San Francisco-based Pacific Telesis Group will challenge a proposal that it refund $750 million to California ratepayers as a condition of being acquired by SBC Communications Inc. for about $18.1 billion in stock. . . . San Mateo-based Electronic Arts Inc. said it bought a minority stake in Accolade Inc.
BUSINESS
September 10, 1997 | Patrice Apodaca
Oakley Inc. said its third-quarter earnings will fall "substantially below" estimates. The Foothill Ranch-based eye wear maker said its profit for the three months ending Sept. 30 will fall well short of the 16 cents a share that analysts had projected, while its net sales will probably reach about $55 million. In the year-earlier quarter, Oakley earned 22 cents a share on net sales of $67.8 million.
BUSINESS
September 10, 1997 | PATRICE APODACE, TIMES STAFF WRITER
Oakley Inc. said its third-quarter earnings would fall "substantially below" estimates. The Foothill Ranch-based eye-wear maker said its profit for the three months ending Sept. 30 would fall well short of the 16 cents a share that analysts had projected, while its net sales would probably reach about $55 million. In the year-earlier quarter, Oakley earned 22 cents a share on net sales of $67.8 million.
SPORTS
July 28, 2002 | Bob Mieszerski
Morning Snow is two-thirds of the way to a $1-million bonus after scoring an easy win in the $436,000 Ed Burke Memorial Futurity on Saturday night at Los Alamitos. More than two months after her victory in the Kindergarten, the 2-year-old This Snow Is Royal filly and 5-1 second choice came out strongly from the inside post under jockey Sam Thompson and went on to win by about two lengths in a rapid 17.35 seconds for the 350 yards.
BUSINESS
September 25, 2001 | From Times Staff and Wire Reports
Sunglasses maker Oakley Inc., moving to compensate for lost sales through its largest customer, Sunglass Hut International Inc., said Monday it agreed to buy Iacon Inc., a sunglasses retailer with 40 stores in malls. Terms were not disclosed. Privately held Iacon, based in Scottsdale, Ariz., operates stores under the names Sunglass Designs, Sporting Eyes and Occhiali da Soles. The chain, which has four stores in Southern California, had revenue of about $15 million in the 12 months ended Aug.
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