Oakley Adds Champs Stores to Improve Sales
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Oakley Inc. said Tuesday it will sell sunglasses and other products in additional Champs Sports stores, as it attempts to offset declining orders from Sunglass Hut, its biggest customer.
The glasses, shoes and watches will be available in 500 Champs stores within the next 30 days, up from 370 current locations, said Oakley, which is based in Foothill Ranch. There were 576 Champs stores as of Aug. 4. Oakley didn’t provide sales forecasts for the expanded agreement with Champs owner, Venator Group Inc.
Oakley said Luxottica SpA, which makes Ray-Ban sunglasses, is stocking more of its own brands at Sunglass Hut, which Luxottica bought in April. Last month, Oakley said second-half earnings would fall as Luxottica reduced orders. Oakley has since been taking steps to lessen its dependence on Sunglass Hut, which made up 19% of Oakley’s sales in the year ended June 30.
Shares of Oakley rose 6 cents to $13.71. Venator fell 5 cents to $17.90.
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