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Oakley bucks recession
By TIFFANY MONTGOMERY
October 30, 2009 09:36 AM
October 30, 2009 09:36 AM
Sunglasses are a tough category for many companies in the recession, but apparently not for Oakley.
Parent company Luxottica reported Thursday that Oakley recorded a 9% increase in constant currency revenues in the third quarter ended Sept. 30, including double digit increases in the U.S., Brazil and Canada.
New releases including Jawbone and Fuel Cell were well received, Luxottica reported.
Luxottica results
Net sales: rose 0.9% to Euro $1.2 billion.
Net income: down 20.6% to Euro $83.1 million
Retail sales: increased 1.5% to Euro $793.8 million.
Sunglass Hut comp sales: down 5.6%.
Wholesale sales: down 0.1% to Euro $429.8 million. Sales in Europe and North America improved, with Eastern Europe and Japan were still tough.
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