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BUSINESS
June 26, 1995 | Times Staff and Wire Reports
Luxottica Group to Sell Shoe Unit: The Italian eyewear maker that bought United States Shoe Corp. for $1.4 billion last month said it is selling the former U.S. Shoe women's apparel business. Luxottica said it has signed a letter of intent to sell the Women's Specialty Retailing Group to Casual Corner Group, an American company controlled by La Leonardo Finanziaria. The companies would not disclose the purchase price or say when the sale will be completed.
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BUSINESS
June 22, 2007 | Leslie Earnest, Times Staff Writer
A lot of people were surprised when the world's biggest eyewear company said it had a deal to acquire one of the world's hippest. "Hell Freezes Over," one Wall Street analyst headlined his report Thursday. "Luxottica to buy Oakley." Oakley Inc. of Foothill Ranch and Luxottica Group of Milan, Italy, have been fierce rivals and even legal foes. If the $2.
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BUSINESS
December 28, 2002 | From Reuters
Italian fashion eyeglass maker Luxottica Group said the New York attorney general's office was investigating its pricing and distribution practices. Luxottica, which makes Ray-Ban sunglasses and other eyewear, said in a filing with the Securities and Exchange Commission on Monday that it was recently informed of the antitrust investigation. Luxottica said it would fully cooperate with the investigation by providing documents and other information to the attorney general's office.
BUSINESS
May 22, 2003 | From Bloomberg News
Oakley Inc., the maker of sunglasses worn by athletes such as baseball player Ichiro Suzuki and most famously by four-time Tour de France champion Lance Armstrong, said it settled lawsuits accusing bigger rival Luxottica Group of copying patented lens designs. Financial terms were not disclosed.
BUSINESS
May 22, 2003 | From Bloomberg News
Oakley Inc., the maker of sunglasses worn by athletes such as baseball player Ichiro Suzuki and most famously by four-time Tour de France champion Lance Armstrong, said it settled lawsuits accusing bigger rival Luxottica Group of copying patented lens designs. Financial terms were not disclosed.
BUSINESS
March 4, 1995 | Times Staff and Wire Reports
Italian Firm Offers $1.1 billion for U.S. Shoe: Italian eye wear maker Luxottica Group mounted a drive to acquire U.S. Shoe Corp., parent of the LensCrafters chain, for $1.1 billion, but the price did not immediately tempt U.S. Shoe. Luxottica, which sells eyeglasses worldwide, said it was making its $24-a-share offer directly to shareholders after it had been rebuffed by U.S. Shoe executives about a friendly merger.
BUSINESS
September 21, 1999
A.G. Edwards Inc. said its profit rose 14% in the second quarter to $82.3 million, or 86 cents a share, led by gains in stock trading and asset management. The results beat analyst estimates of 80 cents and 82 cents a share, according to First Call Corp. Revenue grew 15% to $636 million. * Eyeglass maker Luxottica Group said it's cutting 110 jobs at its Rochester, N.Y.-based headquarters of Ray-Ban Sun Optics Inc. in the next two months.
BUSINESS
April 29, 1999 | From Times Wire Services
Bausch & Lomb Inc. said Wednesday it plans to sell its sunglass business that includes the Ray-Ban brand for $640 million to Italy's Luxottica Group. Luxottica makes eyeglass frames in the medium- and premium-priced categories with brand names such as Giorgio Armani, Brooks Brothers and Anne Klein, and it owns the LensCrafters retail chain. Bausch & Lomb controls about 40% of the global premium-sunglass business, which also includes brands such as Revo, Killer Loop and Arnette priced above $30.
BUSINESS
February 23, 2001 | Reuters
Luxottica Group said it will buy Sunglass Hut International Inc. for about $462 million, a deal that will wed the Italian eye wear maker's existing prescription business in North America with sunglasses. Luxottica will pay $11.50 a share for Coral Gables, Fla.-based Sunglass Hut, which operates 1,962 stores worldwide, and assume about $191 million in debt, the companies said. Sunglass Hut represents around one-third of the premium sunglasses market in the U.S.
BUSINESS
January 10, 2003 | From Bloomberg News
A federal appeals court Thursday barred Luxottica Group, the world's largest maker of luxury eyewear, from selling some sunglasses in the U.S. while rival Oakley Inc. pursues a claim that the products infringe its patents. The U.S. Court of Appeals for the Federal Circuit upheld a trial court's December 2001 order preventing Luxottica from selling sunglass models with "Emerald" green or "Ice" blue tinted lenses.
BUSINESS
January 10, 2003 | From Bloomberg News
A federal appeals court Thursday barred Luxottica Group, the world's largest maker of luxury eyewear, from selling some sunglasses in the U.S. while rival Oakley Inc. pursues a claim that the products infringe its patents. The U.S. Court of Appeals for the Federal Circuit upheld a trial court's December 2001 order preventing Luxottica from selling sunglass models with "Emerald" green or "Ice" blue tinted lenses.
BUSINESS
December 28, 2002 | From Reuters
Italian fashion eyeglass maker Luxottica Group said the New York attorney general's office was investigating its pricing and distribution practices. Luxottica, which makes Ray-Ban sunglasses and other eyewear, said in a filing with the Securities and Exchange Commission on Monday that it was recently informed of the antitrust investigation. Luxottica said it would fully cooperate with the investigation by providing documents and other information to the attorney general's office.
BUSINESS
February 23, 2001 | Reuters
Luxottica Group said it will buy Sunglass Hut International Inc. for about $462 million, a deal that will wed the Italian eye wear maker's existing prescription business in North America with sunglasses. Luxottica will pay $11.50 a share for Coral Gables, Fla.-based Sunglass Hut, which operates 1,962 stores worldwide, and assume about $191 million in debt, the companies said. Sunglass Hut represents around one-third of the premium sunglasses market in the U.S.
BUSINESS
September 21, 1999
A.G. Edwards Inc. said its profit rose 14% in the second quarter to $82.3 million, or 86 cents a share, led by gains in stock trading and asset management. The results beat analyst estimates of 80 cents and 82 cents a share, according to First Call Corp. Revenue grew 15% to $636 million. * Eyeglass maker Luxottica Group said it's cutting 110 jobs at its Rochester, N.Y.-based headquarters of Ray-Ban Sun Optics Inc. in the next two months.
BUSINESS
April 29, 1999 | From Times Wire Services
Bausch & Lomb Inc. said Wednesday it plans to sell its sunglass business that includes the Ray-Ban brand for $640 million to Italy's Luxottica Group. Luxottica makes eyeglass frames in the medium- and premium-priced categories with brand names such as Giorgio Armani, Brooks Brothers and Anne Klein, and it owns the LensCrafters retail chain. Bausch & Lomb controls about 40% of the global premium-sunglass business, which also includes brands such as Revo, Killer Loop and Arnette priced above $30.
BUSINESS
August 11, 1997 | (Reuters)
The Italian head of the corporate parent of the LensCrafters optical chain has made his 2-year-old son one of the wealthiest toddlers in the world, according to weekend newspaper reports. Italian newspapers said Leonardo Del Vecchio gave his son, Leonardo Maria, a 24.4% stake in the family holding that controls eyeglass maker Luxottica, parent of LensCrafters. They said the shares are worth more than $555 million.
BUSINESS
June 22, 2007 | Leslie Earnest, Times Staff Writer
A lot of people were surprised when the world's biggest eyewear company said it had a deal to acquire one of the world's hippest. "Hell Freezes Over," one Wall Street analyst headlined his report Thursday. "Luxottica to buy Oakley." Oakley Inc. of Foothill Ranch and Luxottica Group of Milan, Italy, have been fierce rivals and even legal foes. If the $2.
BUSINESS
June 26, 1995 | Times Staff and Wire Reports
Luxottica Group to Sell Shoe Unit: The Italian eyewear maker that bought United States Shoe Corp. for $1.4 billion last month said it is selling the former U.S. Shoe women's apparel business. Luxottica said it has signed a letter of intent to sell the Women's Specialty Retailing Group to Casual Corner Group, an American company controlled by La Leonardo Finanziaria. The companies would not disclose the purchase price or say when the sale will be completed.
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