VANS, excellent value play in a beaten down sector:
Great fundamentals, chart poised for a breakout.
1-Yr. Sales Growth: 35.8%, 1-Yr. Net Income Growth: 225.0%,
Market Cap 126 Mil, Shares Outstanding 13.3M, Float 10.1M.
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Wednesday July 8, 8:08 am Eastern Time
Company Press Release
Vans, Inc. Retail Stores Pass Century Mark With Opening of Store Near
Barcelona, Spain
Company Announces Opening of Second European Retail Store
SANTA FE SPRINGS, Calif.--(BUSINESS WIRE)--July 8, 1998--Vans, Inc. (Nasdaq:VANS - news) today announced
the opening of its second retail store in Europe. The 1,894-square-foot location is in the La Roca center outside of Barcelona,
adjacent to the major thoroughfare connecting the Costa Brava in Spain to the French Rivera, and marks the opening of Vans'
101st retail store.
Gary H. Schoenfeld, President and Chief Executive Officer, stated ''Our first European store, located near Liverpool, England,
has been among our top five stores since it opened in May, and our overall retail sales for the month of June were outstanding,
generating a comp store sales increase in excess of 20% and an overall year-to-year retail increase of over 40%, both of which
are substantially above plan.''
Mr. Schoenfeld concluded, ''We believe that our strong start in June bodes well for our brand as we enter Back to School and
begin the new fiscal year.(a) We are also very pleased about some of the particular retail opportunities unfolding internationally
and our first retail/skate park concept scheduled for opening in Southern California this fall.''(a)
Vans, Inc. is a branded manufacturer, wholesaler and retailer of active-casual footwear, clothing and accessories and
performance footwear for enthusiast sports. Products are sold through a network of independent and national retailers,
internationally through distributors for 80 countries and Company subsidiaries in the United Kingdom, Mexico, Brazil, Uruguay
and Argentina, and through 101 Company-owned stores and factory outlets.
(a) These are forward-looking statements regarding the Company's sales and earnings for the fiscal year ending May 31, 1999
(''Fiscal 1999''). The Company's actual sales and earnings for Fiscal 1999 may vary significantly due to a number of important
factors, including but not limited to: (i) the occurrence of downward trends in the U.S. economy, foreign economies and the
footwear industry, or the occurrence of events that adversely affect the world economy in general; (ii) changes in the fashion
preferences of the Company's target customers and the Company's ability to anticipate and respond to such changes; (iii)
increasing competition in all lines of the Company's business from both large, well-established companies with significant
financial resources and brand recognition, and smaller niche competitors who market exclusively to the Company's target
customers; and (iv) the fluctuation of foreign currencies in relation to the U.S. dollar. These factors, and others, are more
extensively discussed in the Company's Annual Report on Form 10-K for the year ended May 31, 1997, which is filed with the
Securities and Exchange Commission.
Contact:
Vans, Inc.
Gary H. Schoenfeld, 800/826-7800 (ext.8545)
or
Morgen-Walke Associates
Christine DiSanto/Jim Cappuccio
Press: Miriam Adler
212/850-5600
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Wednesday July 8, 9:15 am Eastern Time
Vans June same store sales up more than 20 percent
SANTA FE SPRINGS, Calif. - Vans Inc. (VANS - news) said Wednesday its same store sales for June rose more than 20
percent compared with a year ago.
''Our first European store, located near Liverpool, England, has been among our top five stores since it opened in May, and
our overall retail sales for the month of June were outstanding, generating a comp store sales increase in excess of 20 percent
and an overall year-to-year retail increase of over 40 percent, both of which are substantially above plan,'' Vans president and
chief executive officer Gary Schoenfeld said in a statement.
''We believe that our strong start in June bodes well for our brand as we enter back-to-school and begin the new fiscal year,''
Schoenfeld said. ''We are also very pleased about some of the particular retail opportunities unfolding internationally and our
first retail/skate park concept scheduled for opening in Southern California this fall.''
The company, which sells active-casual footwear, clothing and accessories and performance footwear, also said Wednesday it
opened its second retail store in Europe, a 1,894-square-foot shop in the La Roca center outside of Barcelona, Spain.
Vans has 101 retail stores. Its shares closed Tuesday at 9-9/16.
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hoovers.com
biz.yahoo.com
vans.com
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This is a value play on fundamentals with TA support and increasing market share and sales. Compare the ratios with Nike, Converse, ReeBok, etc.
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