March 4, 1995 |
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.
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.
May 22, 2003 |
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.
April 29, 1999 |
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.
February 23, 2001 |
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.
November 22, 2001 |
Luxottica Group said a California court issued a restraining order temporarily barring the company from selling some sunglasses in the U.S. after Oakley Inc. claimed the Italian company was selling knockoff designs. The U.S. District Court for the Central District of California barred Luxottica from selling three sunglass models until Nov. 30.