Oakley In-Store Concept Shops to
Debut in May 2002
Business Editors & Retail Writers
FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--Feb. 27, 2002--Oakley
Inc. (NYSE:OO) today announced a new retail partnership with specialty
department store chain Parisian, a division of Saks Inc. (NYSE:SKS).
The partnership marks the first time that the two companies have
done business together and calls for Parisian to develop Oakley
concept shops that will feature a complete selection of Oakley
products including eyewear, footwear, apparel and watches.
Terms of the agreement call for Parisian to deploy seven in-store
concept shops in May 2002. Stores will be outfitted with
Oakley-branded doublewide eyewear towers and branded footwear and
apparel rocket displays to further communicate the synergies of the
Oakley brand across all product categories.
"This partnership with Parisian gives us a great opportunity to
show our entire product line in one of the most prominent specialty
department stores in the southeast. We have said all along that when
our eyewear is showcased with our other product categories they all do
very well," commented chief executive officer Jim Jannard.
Rob Gruen, president and chief executive officer of Parisian,
commented: "We are very pleased to introduce Oakley eyewear and other
distinctive Oakley products to our Parisian stores. The name Oakley
has long been synonymous with quality and style and this partnership
is consistent with our specialty department store strategy of
providing unique and differentiated products to our customers."
The broad assortment of products from each category will qualify
these initial locations to join the "Oakley Premium Dealer" program
established in August 2001. Each location will have an Oakley staff
specialist specifically trained about the latest technologies employed
throughout the company's entire product offering.
The initial Parisian locations will be University Mall,
Tuscaloosa, Ala.; Riverchase Galleria, Birmingham, Ala.; The Summit,
Birmingham, Ala.; Peachtree Mall, Columbus, Ga.; Town Center,
Kennesaw, Ga.; Laurel Park Place, Livonia, Mich. and the Phipps Plaza,
About Oakley Inc.
Oakley: An original, unexpected and innovative world brand.
Building on its legacy of market-leading sunglasses, the company
offers expanding lines of premium performance footwear, apparel,
accessories, watches and prescription eyewear to consumers in more
than 70 countries.
Trailing-12-month net sales through Dec. 31, 2001 totaled $429.3
million and generated net income of $50.4 million -- an 11.7 percent
Oakley news releases, SEC filings and the company's Annual Report
are available at no charge through the company's Web site at
About Saks Inc.
Saks operates Saks Department Store Group (SDSG) with 41 Parisian
specialty department stores and 202 traditional department stores
under the names of Proffitt's, McRae's, Younkers, Herberger's, Carson
Pirie Scott, Bergner's and Boston Store.
The company also operates Saks Fifth Avenue Enterprises (SFAE),
which consists of 61 Saks Fifth Avenue stores and 52 Saks Off 5th
stores. The company's annual revenues exceed $6 billion.
Saks news releases, SEC filings and the company's Annual Report
are available at no charge through the company's Web site at
Oakley Inc. Safe Harbor Disclaimer
This news release contains certain statements of a forward-looking
nature. Such statements are made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
The accuracy of such statements may be impacted by a number of
business risks and uncertainties that could cause actual results to
differ materially from those projected or anticipated, including:
risks related to the company's ability to manage rapid growth; the
ability to identify qualified manufacturing partners; the ability to
coordinate product development and production processes with those
partners; the ability of those manufacturing partners to increase
production volumes in a timely fashion in response to increasing
demand and enable the company to achieve timely delivery of finished
goods to its retail customers; the ability to provide adequate
fixturing to existing and future retail customers to meet anticipated
needs and schedules; the dependence on eyewear sales to Sunglass Hut
which is owned by a major competitor and, accordingly, could
materially alter or terminate its relationship with the company; the
company's ability to expand distribution channels and its own retail
operations in a timely manner; unanticipated changes in general market
conditions or other factors, which may result in cancellations of
advance orders or a reduction in the rate of reorders placed by
retailers; continued weakening of economic conditions could reduce
demand for products sold by the company and could adversely affect
profitability, especially of the company's retail operations; further
terrorist acts, or the threat thereof, could continue to adversely
affect consumer confidence and spending, could interrupt production
and distribution of product and raw materials and could, as a result,
adversely affect the company's operations and financial performance;
the ability of the company to integrate acquisitions; the ability to
continue to develop and produce innovative new products and introduce
them in a timely manner; the acceptance in the marketplace of the
company's new products and changes in consumer preferences; reductions
in sales of products, either as the result of economic or other
conditions or reduced consumer acceptance of a product, could result
in a buildup of inventory; the ability to source raw materials and
finished products at favorable prices to the company; the potential
effect of periodic power crises on the company's operations including
temporary blackouts at the company's facilities; foreign currency
exchange rate fluctuations; and other risks outlined in the company's
SEC filings, including but not limited to the Annual Report on Form
10-K for the year ended Dec. 31, 2000 and other filings made
periodically by the company. The company undertakes no obligation to
update this forward-looking information.
Saks Inc. Safe Harbor Disclaimer
The information contained in this news release that addresses
future results or expectations is considered "forward-looking"
information within the definition of the Federal securities laws.
Forward-looking information in this document can be identified through
the use of words such as "may," "will," "intend," "plan," "project,"
"expect," "anticipate," "should," "would," "believe," "estimate,"
"contemplate," "possible," and "point." The forward-looking
information is premised on many factors, some of which are outlined
below. Actual consolidated results might differ materially from
projected forward-looking information if there are any material
changes in management's assumptions.
The forward-looking information and statements are based on a
series of projections and estimates and involve risks and
uncertainties. These risks and uncertainties include such factors as:
the level of consumer spending for apparel and other merchandise
carried by the company and its ability to respond quickly to consumer
trends; adequate and stable sources of merchandise; the competitive
pricing environment within the department and specialty store
industries as well as other retail channels; the effectiveness of
planned advertising, marketing, and promotional campaigns; favorable
customer response to increased relationship marketing efforts of
proprietary credit card loyalty programs; successful integration of
Saks Direct into the SFAE stores and merchant organization;
appropriate inventory management; effective expense control; effective
operation of the credit card operations of National Bank of the Great
Lakes, the company's national credit card bank; and changes in
interest rates. For additional information regarding these and other
risk factors, please refer to Exhibit 99.1 to the company's Form 10-K
for the fiscal year ended Feb. 3, 2001 filed with the Securities and
Exchange Commission ("SEC"), which may be accessed via EDGAR through
the Internet at www.sec.gov.
Management undertakes no obligation to correct or update any
forward-looking statements, whether as a result of new information,
future events, or otherwise. Persons are advised, however, to consult
any further disclosures management makes on related subjects in its
reports filed with the SEC and in its news releases.
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