Despite a miserable second half of 2001, resulting in 4Q net income plunging to $3.3 million from $9.7 million the year before, Oakley still managed to report record net sales of $429.3 million for the year, up 18.1 percent from 2000. The 4Q disaster as a result of the Luxottica's Sunglass Hut retail chain temporarily severing its retail relationship with Oakley -- click here for the related Dec. 12 SNEWSbyte. Oakley has worked to diversify its retail foundation, opening four O-Stores and Vaults, acquiring the Iacon chain with 43 stores and kiosks, and strengthening its foothold in retail strongholds such as Foot Locker, Champs, The Finish Line, Sport Chalet, Galyan's and Macy's. The company also reported that its footwear, apparel, prescription eyewear, and watch categories accounted for 22.4 percent or $100.8 million of the company's gross sales for the year.
DId you hear?... Deckers reports 4Q drop in net sales
Deckers Outdoor Corporation, owner of the Teva, Simple, and Ugg footwear brands, reported a 4Q drop in net sales to $20.9 million in 2001 versus $23.7 million during 2000. For the year, Teva recorded $61.2 million, down from $79.7 million in 2000 -- thanks in large part to the ...read more