Costa Inc. Sets Fiery Pace in Third Quarter

Costa Inc., which owns the Costa and Native sunglass brands, reported sales increased by 26.3 percent during the third quarter of 2013 to $24.6 million, compared to $19.4 million in the third quarter of 2012. Sunglass sales increased by 24.1 percent, while sales of accessories and apparel increased by 46.6 percent.

Gross margins in the third quarter of 2013 were 58.6 percent, compared to 59.0 percent in the third quarter of 2012.

“We are certainly pleased with our third quarter and year to date performance,” said David G. Whalen, CEO of Costa Inc, formerly known as the Cross Optical Division of A.T. Cross Company. “Our sunglass business has momentum as it enters the fourth quarter as all of the Costa brand’s revenue sources; including prescription and non-prescription sunglasses, as well as apparel and accessories are performing very well. As we move through the last quarter of this year and head into 2014, our confidence in our business model and its growth potential is high. Every day, our authentic brands and products are attracting new consumers in both existing markets as well as new ones.”