17% Rise in Stock Price Leaves Oakley in a Sunny Mood
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Oakley Inc.’s stock climbed nearly 17% Monday after the sunglass and apparel designer said it expects to post strong gains in earnings and sales for the second quarter.
The Foothill Ranch company said in a press release that it expects second-quarter earnings to be about 21 cents a share, compared with earnings of 15 cents a share in the year-ago quarter.
It also said that, based on current sales trends, it expects sales of more than $90 million for the second quarter, compared with sales of $72.1 million in last year’s second three months.
The news sent the company’s stock up $1.63 to close at $11.25 a share on the New York Stock Exchange. The company is scheduled to release second-quarter results July 19.
Oakley said its fall apparel line is scheduled to be available in retail stores in August. The company also plans to unveil a sport watch, which will be priced at $180, in early fall.
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