Sunglass Hut Is Feeling The Glare

The once highflying retailer is trying to reverse a slide

Jack B. Chadsey, CEO of Sunglass Hut International Inc., likes to tell how the specialty retailer muscled its way to the top. "We came through like Pac-Man and took away share from department and optical stores," he says. The company also gobbled up rivals, growing from 600 stores in 1993 to over 2,000 by 1996. As earnings soared from a loss in 1993 to $21 million in fiscal 1995, investors played along happily.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.