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Non-Tech : Sunglass Hut RAYS- Will it ever breakout?
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To: QuickTrade who wrote (949)1/15/1999 9:07:00 AM
From: Gary105  Read Replies (1) of 971
 
This news will have a much greater impact on the fundamental valuation of the company. It can extend peak seasons from one or two to three.

Friday January 15, 8:43 am Eastern Time

Sunglass Hut plans to expand combo stores

CORAL GABLES, Fla., Jan 15 (Reuters) - Sunglass Hut International Inc. said Friday it plans to expand its testing of Sunglass Hut/Watch Station combination stores, saying the retail format that includes sunglasses, watches and related inventory in a single store had been successful in early tests.

''Tests of the Sunglass Hut/Watch Station stores have been very promising,'' Chairman James Hauslein told Reuters in an interview Thursday night.

''These results suggest that there is significant sales growth potential in the combo concept and we will expand our testing with additional stores in fiscal 1999,'' he said.

The company said in a statement that the initial test results were based on a limited number of stores during a relatively short time period and that further testing is needed to refine the company's long-term expectations and growth strategy for the combination format.

Sunglass Hut International is the world's largest specialty retailer of branded sunglasses with 1,983 Sunglass Hut locations worldwide. The company also operates 119 Watch Station stores.

Sunglass Hut also this week announced it had purchased two Web sites, shades.com and SwissArmyDepot.com.
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