Oakley Cuts Sales, Earnings Forecast

Oakley Inc. cut its forecast for fourth-quarter sales and profit as customers bought fewer sunglasses.

The company will take an expense for restructuring its European operations.

Oakley expects fourth-quarter sales of about $100 million and break-even to 1-cent-per-share earnings after the expense, the company said.

The Foothill Ranch-based company had forecast sales of $108 million to $110 million and earnings of about 10 cents.

Oakley shares fell 20 cents to $12.29 on the NYSE before the announcement.