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BUSINESS
September 21, 2005 | From Bloomberg News
Oakley Inc., whose sunglasses are worn by seven-time Tour de France winner Lance Armstrong, on Tuesday named a Nike Inc. vice president as chief executive. Oakley, based in Foothill Ranch in Orange County, said Scott Olivet would succeed company founder Jim Jannard as CEO next month and also join the board. Olivet, 43, had served since 2001 as Nike's vice president for subsidiaries and new business development. The executive, a graduate of Pomona College, previously worked at Gap Inc.
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BUSINESS
February 22, 2006 | From Times Staff and Wire Reports
Stocks drooped Tuesday after a robust reading on the economy, minutes of the most recent meeting of the Federal Reserve and higher oil prices cemented the feeling on Wall Street that additional interest rate hikes were a near certainty. The market's losses were modest, however. The Dow Jones industrial average fell 46.26 points, or 0.4%, to 11,069.06. The mild sell-off began after the Conference Board said its index of leading economic indicators rose sharply last month.
BUSINESS
February 10, 2006 | Ronald D. White, Times Staff Writer
Seven years after marching into the fiercely competitive athletic footwear business, Oakley Inc. -- best known for its sunglasses and ski goggles -- has decided to walk away from it. The company also said Thursday that its fourth-quarter earnings fell 8%. The results were well short of Wall Street's expectations, and Oakley's stock dropped 6%. The Foothill Ranch-based company earned $9.2 million, or 13 cents a share, in the quarter, compared with $10 million, or 15 cents, a year earlier.
BUSINESS
February 9, 2006 | Ronald D. White, Times Staff Writer
Oakley Inc., whose high-tech sunglasses are worn by world-class athletes in several sports, said Wednesday that it bought privately held Oliver Peoples Inc., whose classic spectacles have been seen on celebrities such as Brad Pitt and Angelina Jolie. The acquisition -- valued at $46.7 million, excluding the assumption of debt and incentives -- is the first in the 35-year history of Foothill Ranch-based Oakley.
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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