Luxxotica Group, parent company of Oakley and Sunglass Hut, reported fourth quarter sales were up 4%, to $1.58 billion compared to $1.51 billion, while earnings dropped 44.2%, according to a statement released Thursday, March 12. On a per share basis in dollars, earnings fell to 16 cents a share from 31 cents.
The company also posted results for 2008, which reflected a 4.7% sales increase, and a 17.6% decrease in earnings, according to the company report. Luxottica Group CEO Andrea Guerra had this to say:
“‘We closed 2008, a particularly challenging year, with all-time high consolidated sales of over Euro 5 billion, net income of nearly Euro 400 million and free cash flow of Euro 300 million.We successfully completed the first full year of working with Oakley and laid the foundation for Luxottica’s long-term growth, even through a period as difficult as the one we are now facing.’”
In its outlook for 2009, Luxottica also announced the further expansion of the Oakley brand, including further development of womens’ lines, new technology.
Download the full report HERE, or view a summary HERE.
Red Bull has hauled in cats and a pipe dragon to build this secret stash worthy of White’s video game on the backside of Silverton at an estimated cost of $500k. The pipe, situated at 12,300 feet is the highest in the world, and can only be accessed by sled or chopper.
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TransWorld Business caught up with some key industry members on the first day of SIA 2009 in Vegas. Check out the videos right here.
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TransWorld Business is in Vegas for the 38th annual - and final - SIA Trade Show at Mandalay Bay. Stay tuned here for more photos and video from day two.
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Preview upcoming trends in outerwear for the 2009/2010 season.
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Event Description A jam style event with transitions and artificial features designed and created by the Faultline Terrain Park Crew. Located in the Playground, the Oakley Uprising is always a great event. As alway, the resort provides competitors with a delicious buffet Breakfast and lunch for this event will be compliments of Del Taco. Registration: (7:00am-9:30pm) Big Pines Lodge Entry Fee: $25 Lift Ticket: $25 :::HELMETS REQUIRED:::
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Transworld Business caught up with Liesl to discuss her latest project, “Uniquely,” as well as the women’s program and what’s next for the girls of Oakley.
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