SANTA FE SPRINGS, Calif.–(BUSINESS WIRE)–Nov. 14, 2000– Vans, Inc. (Nasdaq: VANS) today announced it was named Company of the Year by Footwear News, the leading footwear trade publication. This follows Vans' recognition by Footwear News as Marketer of the Year in December 1998. The Company also announced that it was recently named one of the 200 Best Small Companies in America by Forbes Magazine.
"We are very pleased to receive these two major distinctions," stated Gary H. Schoenfeld, Vans' President and Chief Executive Officer. "I would like to commend our entire team for their enthusiasm, dedication and commitment to excellence and innovation, which have been the driving force behind our success to date."
Mr. Schoenfeld further commented, "We continue to raike the bar internally, as we strive to further our position as the leading sports and lifestyle brand for today's youth market. We are happy that our efforts are being recognized on a number of different levels."
Maryann LoRusso, Editor-in-Chief, Footwear News commented, "The editors of FN have chosen Vans as this year's Company of the Year for a variety of reasons. Besides experiencing stellar sales growth this past year, the company continued to strengthen its brand through focused, integrated marketing and a precise understanding of its target market. The brand has achieved an almost cult-like status among kids across the globe, and we expect amazing things from Vans in the years to come."
The Company also announced that it continues to be comfortable with the First Call consensus earnings estimate for the second quarter of fiscal 2000 which ends November 25, 2000, and that its retail stores have continued to achieve double digit comp store gains quarter to date.(1) The Company expects to release its second quarter earnings after the close of the market on December 19, 2000, and to web cast its conference call with analysts at 4:45 eastern standard time that same day.