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Non-Tech : Vans Inc. BIG HUMONGOUS Earnings jump.
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To: Bill Turner who wrote (185)7/21/1997 2:15:00 PM
From: Flan   of 403
 
Certainly - Vans biggest challenge is execution. But one of the main reasons I bought the stock was the excellent mgmt. Walter Shoenfeld has an excellent history of buiding shareholder value and although his dominant role at vans has diminished slightly in the last year or so his expert guidance will prove invaluable. Numbers are due out on the 23rd after the close - The biggest battle Vans has in the short term is the investing publics negative view of the shoe companies and the market itself. Vans is trying to broaden its product and revenue sources by moving carefully into other areas of the retail market ( snow boarding boots, Clothing ) which should protect the company to any slowdowns in shoe demand. Vans has had exceptional demand in the past for its product and that will continue into the future. Mgmt has done a great job of building out capacity to match expected demand. Like you said the balance sheet is strong - no debt, 16 million in cash- I have total confidence the company can earn 1.00 share in fiscal 98 so at 13 1/2 it might be the only bargain left in town especially for a company that has demonstrated the ability to grow the business at 25% a year. - but I have also been saying that for a year and not much has happened - Talk to you after the numbers are out!!!
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