16 September 1998: Sunglass Hut International, the US-based specialty retailer of sunglasses, reported that sales for the four weeks ended 29 August 1998 were US$ 47.4 million, an increase of 1.4% com…
16 September 1998: Sunglass Hut International, the US-based specialty retailer of sunglasses, reported that sales for the four weeks ended 29 August 1998 were US$ 47.4 million, an increase of 1.4% compared to the US$ 46.7 million reported for the same period a year earlier. Comparable store sales for the four-week period increased 0.8%. Year-to-date sales for the thirty weeks ended 29 August 1998 increased 5.1% to US$ 387.1 million compared to US$ 368.2 million for the comparable period in 1997. Year-to-date comparable store sales increased 2.9%. “August sales were generally disappointing in each of our sunglass markets around the world. We believe, however, that we will continue to make positive progress in addressing key needs in the areas of in-store merchandising, product flow and inventory management,” said John X. Watson, President and Chief Executive Officer.