Oakley's new 2005 sunglass sales up 65.6% for Q2

21 Jul '05

10 min read

Newcomb concluded, "They now expect earnings per share growth at the higher end of an increased range of 25 to 30 percent over 2004 and continue to expect full year 2005 net sales growth in the upper end of their previously issued guidance of 10 to 15 percent."

Second Quarter Financial Analysis
Total second quarter U.S. net sales increased 14.5 percent to a record $96.4 million from $84.2 million during the same period last year. U.S. net sales, excluding the company's retail store operations, totaled $70.4 million, compared with $65.4 million in last year's comparable quarter, an increase of 7.6 percent. Second quarter net sales at Oakley's retail locations increased 38.6 percent to $26.0 million and included a strong double-digit increase in comparable-store sales.

At the end of the second quarter, the company operated 39 U.S. O Store locations, including two new stores opened during the quarter, and 92 Iacon sunglass specialty stores, including nine new stores opened or acquired during the quarter. At the end of last year's second quarter, the company operated 30 O Stores and 81 Iacon locations.

Second quarter international net sales increased 6.3 percent to $74.1 million, compared with $69.7 million in last year's comparable period, with the weaker U.S. dollar contributing 4.6 percentage points of that growth. Japan, Latin America, Asia, Canada and the South Pacific regions each experienced double-digit increases in net sales, partially offset by a modest sales decline in Europe, the company's largest international market.

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