Total sales up 21% in third quarter for US footwear producer
The U.S. shoemaker Vans, Inc. last week announced record financial results for the third quarter of fiscal 2001 ended February 24, 2001.
Net sales for the quarter increased 21.1% to $83.3 million versus $68.8 million last year and net income increased 50.3% to $2.6 million versus $1.7 million, with a 41.7% increase in diluted earnings per share of $0.17 versus $0.12.
Gary H. Schoenfeld, President and Chief Executive Officer of Vans stated, "Our accomplishments over this past quarter are another strong indication of the progress our Company has made on a number of different levels. Each strategic move has helped to further Vans' position as a leading sports and lifestyle brand for the youth market."
"From a financial perspective, we were able to translate a 21% sales gain into a 42% increase in earnings per share."
Vans operates 140 retail stores in the U.S. and Europe, and designs, markets and distributes active-casual footwear, clothing and accessories, performance footwear for Core Sports, (TM) snowboard boots, step-in snowboard boot bindings, and outerwear worldwide.
