Retailer to Boost Oakley’s Presence

Oakley Inc., seeking new outlets for its sunglasses and footwear, said Venator Group Inc.’s Foot Locker will expand the selection of Oakley products sold in its stores.

The Foothill Ranch-based company’s sunglasses will be sold at 350 Foot Locker locations by early November, Oakley said. The retailer will carry Oakley footwear in 316 of its approximately 1,500 stores, up from 112. Financial terms weren’t disclosed.

Oakley has sought new retailers since its largest customer, Sunglass Hut International Inc., cut orders to make room for products from new owner Luxottica Group. Oakley said Monday that it will buy Iacon Inc. to acquire 40 mall-based stores. The company also has said 500 of Venator’s Champs Sports stores would offer more Oakley glasses, watches and shoes by early October.

“They’ve made a strong start here,” said Ladenburg Thalmann & Co. analyst Eric Beder, who has a “strong buy” rating on Oakley shares. “They have probably made up about a quarter to 40% of the Sunglass Hut sales.” Beder doesn’t own the stock.

Oakley shares rose 35 cents on Tuesday to $13.01, and New York-based Venator shares rose 1 cent to $15.20, both on the New York Stock Exchange.