Sponsors
Billabong ▼ -0.005 | PPR ▲ +0.05 | American Apparel ▲ +0.117 | The Buckle ▲ +0.37 | Columbia ▲ +0.81 | Deckers Outdoor ▲ +2.01 | Dicks ▲ +0.29 | Foot Locker ▲ +0.18 | Genesco ▲ +0.65 | Iconix Brand Group ▲ +0.42 | Jarden Corp ▲ +1.08 | Nordstrom ▲ +0.25 | Luxottica ▲ +0.33 | Nike ▲ +0.45 | Pacific Sunwear ▲ +0.03 | Skullcandy ▲ +0.22 | Sport Chalet ▼ 0.00 | Urban Outfitters ▲ +0.36 | VF Corp ▼ -0.08 | Quiksilver ▲ +0.25 | Zumiez ▼ 0.00 | Macys ▲ +0.19 | Tillys ▲ +0.31 |
Ticker Sponsor
Readers Say
I require all our executives to read it
I require all our executives to read it

There is no better publication that I am aware of that is so accurate and on top of any news and developments in our industry. I personally recommend it to many people that want to know and understand more about our industry. For the most part, shop-eat-surf.com gets the stories first. As a matter of fact, I require all the executives in our company to read it.

- By Hezy Shaked, President & CEO, Tilly's
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
New Industry Insight

Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.


Tiffany Montgomery
Print This Article

Oakley Q3 highlights - optics up, Japan rocks

Oakley headquarters in
Oakley headquarters in Foothill Ranch.
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