Sponsors
Billabong ▲ +0.005 | PPR ▼ -2.80 | American Apparel ▲ +0.03 | The Buckle ▲ +0.01 | Columbia ▼ -0.45 | Deckers Outdoor ▲ +1.15 | Dicks ▲ +0.58 | Foot Locker ▲ +1.55 | Genesco ▲ +2.71 | Iconix Brand Group ▲ +0.39 | Jarden Corp ▲ +0.48 | Nordstrom ▲ +0.52 | Luxottica ▼ -0.13 | Nike ▲ +0.35 | Pacific Sunwear ▲ +0.01 | Skullcandy ▲ +0.01 | Sport Chalet - 0 | Urban Outfitters ▲ +0.53 | VF Corp ▲ +0.35 | Quiksilver ▼ 0.00 | Zumiez ▲ +0.50 | Macys ▲ +1.07 | Tillys ▼ -0.02 |
Ticker Sponsor
Readers Say
Since the inception of Executive Edition, I only need 1 stop
Since the inception of Executive Edition, I only need 1 stop

As a retailer in the surf industry for the past 21 years, I have had to use multiple sources to stay informed to the news within surf. Since the inception of the Executive Edition of Shop-Eat-Surf.com, I need only one stop. Thanks for providing such a valuable tool to all of us in the industry. Shop-Eat-Surf is a must read for all of our staff at Maui Nix.

- By George Karamitos, CEO, Maui Nix
In touch with our business
In touch with our business

If you're not plugged into Shop-Eat-Surf.com daily, you're out of touch with our business!

- By Peter "PT" Townend, The ActivEmpire
Industry Insight

CURVEXPO: Recap of the swimwear & lingerie show in Las Vegas.

SIMA: Save the Date invitation for Humanitarian Fund's STOKES ME Bowl-a-rama on Sept. 16.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Oakley Q3 highlights - optics up, Japan rocks

By Tiffany Montgomery
October 19, 2007 6:02 AM

Oakley released its fiscal 2007 third quarter earnings Thursday that again validated CEO Scott Olivet's turnaround strategy for company. Here are some highlights from the conference call:
  • The company has cleared nearly every anti-trust hurdle and has scheduled a shareholder vote for Nov. 7 for its merger with former arch rival Luxottica Group of Italy.
  • Net sales rose 25 percent to $264 million.
  • Net income increased 37 percent to $24 million.
  • Optic sales drove growth, increasing 29 percent to $192 million. Sunglasses and prescription eyewear lead the way.
  • Apparel, footwear and accessory sales increased 13 percent to $52 million, led by sales in Brazil and Australia. U.S. wholesale sales were down in this category.
  • Oakley's focus on the Asian Pacific region paid off. Optics and apparel, footwear and accessory sales generated double-digit growth. Optics sales were especially strong in Japan.
  • Oliver Peoples is struggling. The upscale sunglass line has a backlog of key eyewear styles, limiting sales growth short term.
  • Oakley will end the year with 297 company operated retail stores. U.S. retail sales in the third quarter rose 35 percent to $63 million.
  • CEO Scott Olivet, who joined Oakley from Nike in late 2005, is understandably pleased.
  • "We are also optimistic about the sustainability of performance, because we are delivering top-line and bottom-line growth, while at the same time building for our future," he said. "And very importantly, we are delivering the results while building brand equity...All our initiatives have been designed and executed to connect more deeply with our consumers and let them in on what we believe is one of the best kept product and brand secrets...The Oakley brand is back."

 


Articles You Might Have Missed