Sponsors
Billabong ▼ -0.005 | PPR ▲ +0.30 | American Apparel ▼ -0.047 | The Buckle ▲ +0.32 | Columbia ▲ +0.30 | Deckers Outdoor ▼ -0.61 | Dicks ▼ -0.03 | Foot Locker ▲ +0.43 | Genesco ▲ +0.25 | Iconix Brand Group ▼ -0.12 | Jarden Corp ▼ -0.06 | Nordstrom ▲ +0.23 | Luxottica ▲ +0.31 | Nike ▲ +0.09 | Pacific Sunwear ▲ +0.01 | Skullcandy ▼ -0.16 | Sport Chalet ▼ 0.00 | Urban Outfitters ▲ +0.10 | VF Corp ▲ +0.49 | Quiksilver ▼ -0.05 | Zumiez ▲ +0.15 | Macys ▲ +0.38 | Tillys ▼ -0.04 |
Ticker Sponsor
Readers Say
Executive Edition is a must have
Executive Edition is a must have

Before Shop-Eat-Surf, there were two sites I paid for premium content on. One is Surfline, the other is the Wall Street Journal. One is about all things surf, the other, the best business content site in the world. Shop-eat-surf is the intersection of those two worlds. Shop-Eat-Surf provides everything from coverage of events, people, brands and trends. However, beyond the Executive Edition "wall" is more meaty analysis and interpretation of financial statements, business models and brand philosophies; why certain brands and companies are succeeding, where others aren't. The Executive Edition is a must have read if the business of surf and action sports are on your radar screen.

- By Jeff Berg, Co-owner, Surfline
Executive Edition rules
Executive Edition rules

“Shop-Eat-Surf” is now officially, the first stop in the morning for industry news. Accurate reporting, no sensationalism, and just the facts. Refreshing support to an incredible industry with a very bright future. Tiffany has cemented her role in the industry....the site is thought provoking, and inspirational. Learning the stories of others is incredibly useful. Great way to connect the retail community with the wholesale and financial, instantly and nationwide. ... And the Executive Edition rules.

- By Bob Hurley, Chairman, Hurley International
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 and Ray-Ban lead Luxottica

Oakley headquarters in
Oakley headquarters in Foothill Ranch, Calif.
By Tiffany Montgomery
February 06, 2009 9:45 AM

As the economic crisis dampens demand for luxury glasses, Luxottica is focusing on its more "resilient" optical products, including its Oakley and Ray-Ban brands, according to Luxottica's 2008 sales report released yesterday.

Oakley and Ray-Ban "continue to be successful around the world," Luxottica said, noting that the performance of the two brands was a highlight of 2008.

Luxottica, based in Milan, Italy, did not break out sales for Oakley or Ray-Ban in the report. It did say it expects continued good growth for Oakley in Europe and emerging markets.

The company said the marketplace continued to deteriorate in the fourth quarter, and wholesale customers were "destocking." Sales were below expectations, Luxottica said.

The company believes there is a "global structural reset" going on, that will "right-size" markets down by 10 percent.

Luxottica is taking several steps to deal with the declining economic environment, including reviewing 3 to 4 percent of its store portfolio, streamlining back office operations and logistics, and investing in IT systems.

It also plans to be more "aggressive" on entry-level price points for its luxury brands.

Fourth quarter and 2008 details:

2008 total company sales

Current exchange rates: up 4.7 percent to 5.2 billion Euros for 2008
Constant exchange rates: down 0.8 percent.

Fourth quarter sales

Current exchange rates: up 4 percent to 1.2 billion Euros.
Constant exchange rates: down 5.5 percent.

Projected 2008 net profit

400 million Euros, down 16 percent.

Sunglass Hut stores

2008 same-store sales: down 4.9 percent for the year
Fourth quarter same-store sales: down 12.9 percent
Luxottica did not break out numbers for Oakley stores.

2008 total retail sales

Current exchange rates: down 4.7 percent to 3.1 billion Euros
Constant exchange rates: down 2.1 percent.

Fourth quarter retail sales

Current exchange rates: up grew 4.6 percent to 777 million Euros
Constant exchange rates: down 3.7 percent.

2008 wholesale sales

Current rates: up 22.8 percent to 2.1 billion Euros
Constant: up 1.3 percent

Fourth quarter wholesale

Current rates: up 3.1 percent to 460 million Euros
Constant: down 8.3 percent

 

Airfare.com - Flights, hotels and more!

 

 

 


Articles You Might Have Missed