USA: Oakley's Fall 2000 Footwear Proves Popular
After the company's attendance at the World Shoe Association (WSA) show held last week in Las Vegas, it reported positive feedback to its existing fall 2000 line as well as solid interest in the spring 2001 line, which debuted at the show.
The fall 2000 line, which consists of nine styles, will be expanded with five new styles for spring 2001. The company continues to expect to have approximately 2,500 to 3,000 global footwear doors by the end of the year.
"Our footwear team continues to execute successfully and has begun to establish the Oakley brand as an industry participant," said Link Newcomb, Oakley's chief operating officer. "We remain optimistic about our long-term opportunities in the athletic footwear category and are now competitively positioned to consistently deploy innovative footwear products matching seasonal industry and consumer expectations."
The company reported that based on successful sell-through of the Flesh and Nail fall styles, it is currently engaged in discussions to expand doors with key US retailers including R.E.I., Finish Line and Athlete's Foot.
Internationally, the company's footwear line is also experiencing strong sell-through rates in key markets with expansion planned in Canada, Australia, continental Europe, the UK and Japan.
About Oakley Inc
Building on its legacy of innovative, market-leading, premium sunglasses, Oakley also offers an expanding line of premium performance footwear, apparel, accessories, watches and prescription eyewear to consumers in more than 70 countries.
Trailing 12-month revenues through June 30, 2000, totaled $300.2 million and generated net income of $40 million -- a 13 percent net margin, excluding a one-time, after-tax restructuring charge of $8.2 million recorded during the fourth quarter of 1999. Oakley news releases, SEC filings and the company's Annual Report are available at no charge through the company's website at www.oakley.com.
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