In a recent report, Sunglass Hut International Inc. said December same-store sales rose 6.9%, and that total sales for the five weeks ended 1 January increased 8% to US$ 84.7 million from US$ 78.5 mil…
In a recent report, Sunglass Hut International Inc. said December same-store sales rose 6.9%, and that total sales for the five weeks ended 1 January increased 8% to US$ 84.7 million from US$ 78.5 million a year ago. Electronic commerce sales were US$ 600,000, up 163% from last year. For the first 48 weeks of the fiscal year, same-store sales rose 7%. Total sales were US$ 603.8 million, up 5.7% from US$ 571.5 million last year. Sunglass Hut plans to record higher-than-expected expenses in the fourth quarter as a result of costs associated with upgrading systems and communications networks, as well as related year 2000 conversion costs. The company still expects the changes to benefit it in 2000 and beyond. A First Call/Thomson Financial survey of six analysts produced a consensus earnings estimate of 7 cents a share for Sunglass Hut“s fourth quarter. For the fourth quarter ended 30 January 1999, the company earned 2 cents a share excluding the reversal of certain accrued store-closing expenses.