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Sunglass Hut International: comparable store sales report, plus recent appointments

15 October 1998: US-based specialty retailer of sunglasses, Sunglass Hut International, has reported that sales for the five weeks ended 3 October 1998 were US$ 45.0 million, an increase of 1.0% compa…

15 October 1998: US-based specialty retailer of sunglasses, Sunglass Hut International, has reported that sales for the five weeks ended 3 October 1998 were US$ 45.0 million, an increase of 1.0% compared to the US$ 44.5 million reported for the same period last year. Comparable store sales for the five-week period increased 0.5%. Year-to-date sales for the thirty-five weeks ended 3 October 1998 increased 4.7% to US$ 432.1 million compared to US$ 412.7 million for the comparable period in 1997. Year-to-date comparable store sales increased 2.6%. “After a strong performance through Labor Day, sales trends slowed during the last half of the month in all business units. Looking forward, we continue to make progress in addressing key needs in in-store merchandising, product flow, and inventory management. We remain hopeful that these and other initiatives including increased holiday season catalog mailings and new in store marketing programs will result in improved performance in the fourth quarter,” said John X. Watson, president and Chief Executive Officer. Meanwhile, the company also announced the appointment of W. John Short to Executive Vice President and General Manager, Sunglass Hut North America. He had previously held the position of Executive Vice President, Strategic Planning and International Business Development for the Company. In addition, the company named Eric Schumann, currently General Manager of the Watch Station business, to the additional position of Executive Vice President, General Merchandise Manager for Sunglass Hut North America. Enrique “Chino” Arrata has been appointed as Senior Vice President, International and MIS. In this role, Arrata will be responsible for the strategic growth and development of international business operations as well as supervision of global Management Information Systems. Arrata, as well as Short and Schumann, report directly to John X. Watson, President and CEO.

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