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Sunglass Hut International

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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.
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BUSINESS
December 13, 2001 | MARC BALLON, TIMES STAFF WRITER
Oakley Inc., ending a costly feud, said Wednesday that it had signed a deal to resume sales of its trendy sunglasses through the Sunglass Hut International chain owned by rival Luxottica Group. The Foothill Ranch company, which saw its sales evaporate at Sunglass Hut stores after Italy's Luxottica purchased the chain in April, said Sunglass Hut once again will become Oakley's biggest customer, boosting earnings and sales next year.
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BUSINESS
June 10, 1997
Oakley Inc. continues to maintain that new products in the pipeline will reinvigorate the Foothill Ranch-based company's revenue and net profit. As the summer months roll by, Oakley will have its chance to make its case, as consumers stock up with protective eye wear. But Oakley also faces increased heat from a formidable competitor. Nike Inc. has announced that Sunglass Hut International, the Coral Gables, Fla.-based sunglass and eye wear chain, has agreed to stock its upscale line of eye wear.
BUSINESS
March 6, 2001 | LESLIE EARNEST
Oakley Inc. is trying to persuade investors that it's not going to get dinged by the change of ownership anticipated at Sunglass Hut International, its largest customer. Sunglass Hut announced last week that it expects to be purchased by Oakley competitor Luxottica Group SpA, which owns the popular Ray-Ban and Arnette brands.
BUSINESS
March 6, 2001 | LESLIE EARNEST
Oakley Inc. is trying to persuade investors that it's not going to get dinged by the change of ownership anticipated at Sunglass Hut International, its largest customer. Sunglass Hut announced last week that it expects to be purchased by Oakley competitor Luxottica Group SpA, which owns the popular Ray-Ban and Arnette brands.
BUSINESS
April 21, 1999 | Leslie Earnest
Vans Inc. and Sunglass Hut International Inc. have formed a joint venture to make two new brands of Vans sunglasses, which should be for sale next spring. Santa Fe Springs-based shoemaker Vans will own 51% of the new venture and Coral Gables, Fla.-based Sunglass Hut will own the remaining 49%. Specific financial terms were not disclosed. Sunglass Hut will design and produce the sunglasses while Vans will license its Vans and Triple Crown trademarks and logos to the new company.
BUSINESS
November 20, 1998 | From Bloomberg News
Sunglass Hut International Inc., the largest customer of Orange County sunglass makers Oakley Inc. and Arnette Optics, said Thursday it closed 149 stores that were unprofitable or weren't meeting expectations and will close as many as 76 more by the end of January. The Florida-based company wouldn't give the locations of the stores to be shut and said the additional closings will bring the total in the fiscal year ending Jan. 31 to 200 to 225.
BUSINESS
December 6, 1996 | GREG JOHNSON, TIMES STAFF WRITER
Oakley Inc.'s shares tumbled to a new low on Thursday after the sunglass manufacturer warned that continued weak demand from its single largest retail customer would push fourth-quarter earnings far below analysts' expectations. The decline, Oakley's third significant daily drop in recent months, sparked renewed speculation on the company's ability to continually produce cutting-edge designs--and whether the market for stylish-but-expensive eye wear is getting saturated.
BUSINESS
December 13, 2001 | MARC BALLON, TIMES STAFF WRITER
Oakley Inc., ending a costly feud, said Wednesday that it had signed a deal to resume sales of its trendy sunglasses through the Sunglass Hut International chain owned by rival Luxottica Group. The Foothill Ranch company, which saw its sales evaporate at Sunglass Hut stores after Italy's Luxottica purchased the chain in April, said Sunglass Hut once again will become Oakley's biggest customer, boosting earnings and sales next year.
BUSINESS
June 4, 1998 | JAMES F. PELTZ
Don't look now, but shades retailer Sunglass Hut International Inc. is making a glaring comeback. Sunglass Hut, a shopping mall fixture with 2,070 outlets--including more than 100 in California--is sporting a strong rebound in sales growth and a stock that's nearly doubled in price this year. The turnaround came after the Coral Gables, Fla.
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
April 21, 1999 | Leslie Earnest
Vans Inc. and Sunglass Hut International Inc. have formed a joint venture to make two new brands of Vans sunglasses, which should be for sale next spring. Santa Fe Springs-based shoemaker Vans will own 51% of the new venture and Coral Gables, Fla.-based Sunglass Hut will own the remaining 49%. Specific financial terms were not disclosed. Sunglass Hut will design and produce the sunglasses while Vans will license its Vans and Triple Crown trademarks and logos to the new company.
BUSINESS
November 20, 1998 | From Times Wire Services
Barnes & Noble Inc. reported a wider-than-expected loss for its fiscal third quarter as expenses at its fledgling Internet unit offset higher sales at its chain of large bookstores. The largest U.S. bookseller lost $4.59 million, or 7 cents a share, compared with net income of $65,000, or break-even on a per-share basis, a year ago. Analysts were expecting, on average, a loss of 3 cents. Total revenue rose 9.6% to $674.1 million.
BUSINESS
November 20, 1998 | From Bloomberg News
Sunglass Hut International Inc., the largest customer of Orange County sunglass makers Oakley Inc. and Arnette Optics, said Thursday it closed 149 stores that were unprofitable or weren't meeting expectations and will close as many as 76 more by the end of January. The Florida-based company wouldn't give the locations of the stores to be shut and said the additional closings will bring the total in the fiscal year ending Jan. 31 to 200 to 225.
BUSINESS
June 4, 1998 | JAMES F. PELTZ
Don't look now, but shades retailer Sunglass Hut International Inc. is making a glaring comeback. Sunglass Hut, a shopping mall fixture with 2,070 outlets--including more than 100 in California--is sporting a strong rebound in sales growth and a stock that's nearly doubled in price this year. The turnaround came after the Coral Gables, Fla.
BUSINESS
February 12, 1998 | RUSS STANTON, TIMES STAFF WRITER
Oakley Inc. reported Wednesday that quarterly sales rose for the first time in a year, a sign that the sunglasses manufacturer has overcome problems plaguing both its largest customer and its industry. The company said that fourth-quarter sales rose 13% to $45 million, thanks to a 56% gain in sales to its largest customer, optical retailer Sunglass Hut International.
BUSINESS
November 20, 1998 | From Times Wire Services
Barnes & Noble Inc. reported a wider-than-expected loss for its fiscal third quarter as expenses at its fledgling Internet unit offset higher sales at its chain of large bookstores. The largest U.S. bookseller lost $4.59 million, or 7 cents a share, compared with net income of $65,000, or break-even on a per-share basis, a year ago. Analysts were expecting, on average, a loss of 3 cents. Total revenue rose 9.6% to $674.1 million.
BUSINESS
February 12, 1998 | RUSS STANTON, TIMES STAFF WRITER
Oakley Inc. reported Wednesday that quarterly sales rose for the first time in a year, a sign that the sunglasses manufacturer has overcome problems plaguing both its largest customer and its industry. The company said that fourth-quarter sales rose 13% to $45 million, thanks to a 56% gain in sales to its largest customer, optical retailer Sunglass Hut International.
BUSINESS
June 10, 1997
Oakley Inc. continues to maintain that new products in the pipeline will reinvigorate the Foothill Ranch-based company's revenue and net profit. As the summer months roll by, Oakley will have its chance to make its case, as consumers stock up with protective eye wear. But Oakley also faces increased heat from a formidable competitor. Nike Inc. has announced that Sunglass Hut International, the Coral Gables, Fla.-based sunglass and eye wear chain, has agreed to stock its upscale line of eye wear.
BUSINESS
December 6, 1996 | GREG JOHNSON, TIMES STAFF WRITER
Oakley Inc.'s shares tumbled to a new low on Thursday after the sunglass manufacturer warned that continued weak demand from its single largest retail customer would push fourth-quarter earnings far below analysts' expectations. The decline, Oakley's third significant daily drop in recent months, sparked renewed speculation on the company's ability to continually produce cutting-edge designs--and whether the market for stylish-but-expensive eyewear--is getting saturated.
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