Did you hear?... Oakley's 3Q earnings dropped by 16%

Oakley's third quarter results revealed record sales, but earnings dropped by 16 percent.

Oakley's third quarter results revealed record sales, but earnings dropped by 16 percent. While sales were up, Sunglass Hut -- Oakley's biggest retail customer -- slashed Oakley business by 91 percent or $18 million. Luxottica purchased Sunglass Hut in April and, as a result, Sunglass Hut began stocking Luxottica's sunglasses instead of Oakley's. During the investor conference call, Oakley announced it would be moving to acquire Lacon, a mall-based eyewear retailer, to help offset the loss of Sunglass Hut business. Oakley also announced it would be working more closely with outdoor retail chain Sport Chalet and sports and footwear retail chains Foot Locker, Champ's Sports, and Finish Line. SNEWS® View: Oakley suffered because it placed far too much emphasis on one major retailer instead of establishing a much more diversified distribution base that can weather the loss of or decline in business from one or more key accounts. The company is working to rectify that now, but it will likely be a few more quarters of bad news for investors before the stock rebounds.


Did you hear?... Oakley reports record net sales

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 ...read more

Outdoor financials: Oakley parent reports 60 percent drop in Q4 earnings, plus Hibbett Sports, Hanesbrands

Oakley parent reports 60 percent drop in Q4 earnings Luxottica Group (NYSE: LUX), parent of Oakley, posted a 59.9 percent decline in its fourth-quarter earnings, due to the higher operating expenses and write-downs. Net income fell to EUR 38.83 million (USD $50.22 million), or ...read more

Did you hear?... Columbia Sportswear's 3Q earnings were up 30 percent

Warning that its rapid growth will slow next year, Columbia Sportswear's third quarter earnings were up 30 percent to $49.58 million from $ 38.22 million a year ago. Sales for the quarter were up 24 percent to $305.63 million compared to $247.35 a year ago. After citing the ...read more

Did you hear?... Oakley now welcome in Sunglass Hut stores again

In an amazing about face, Luxottica Group (the Italian-based sunglass company and new owner of Sunglass Hut) announced in a joint release with Oakley (NYSE:00), that Oakley was now welcome in Sunglass Hut stores again. As you may recall Luxottica (NYSE:LUX) initially booted ...read more

K2 Corp. Reports 10 Percent Sales Drop in 3Q

K2 Corp. reports third quarter net sales fell 10.1 percent to $149.4 million. The company will show a loss of $10.7 million for the quarter. K2 has taken actions to reduce company costs and expenses through restructuring and production facility moves, company CEO, Rich Rodstein, ...read more

Outdoor: Did you hear?...

>> A note about the devastating Southern California fires: Our friends in companies and stores throughout the region tell us that the fires all around them have so far meant not much more than smoke and ash everywhere … and some scary moments for friends and family nearby. One ...read more

Fitness: Did you hear?

>> Ilan Katz, former vice president at Fitness Headquarters, has left the company as of Oct. 31 and moved to the Miami area. His goal, he told SNEWS, is to open his own specialty fitness store in the area and to do it his way. We're sure we'll hear more soon from Katz, who ...read more

Outdoor: Did you hear?...

>> When the SNEWS® team received an invite to head to Utah for a Backbone Media-organized ski outing in Park City, Utah -- come on...it was tough work testing all that apparel and gear from Black Diamond, Obermeyer, Thor-lo, Horny Toad and Polartec -- we naturally accepted after ...read more

Outdoor: Did you hear?...

>> Rock and Ice magazine is partnering with the American Safe Climbing Association (ASCF) to replace aging desert bolts on the Canyonlands' Primrose Dihedrals route. Working with the cooperation of the National Park Service, Rock and Ice will pull all of the multi-pitch climb's ...read more