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 20, 1998 |
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.
June 4, 1998 |
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.
February 12, 1998 |
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.
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.
December 6, 1996 |
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.