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Vans Tennis Shoes Company

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BUSINESS
July 17, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
Vans Inc., a maker of sneakers, reported $6.5 million in earnings for its first fiscal year as a publicly traded company. If not for onetime charges related to its August, 1991, public stock offering, the company said, it would have posted a profit of $9.6 million, or $1.07 a share, for the fiscal year ended May 31. Earnings per share for the year came to 72 cents. The latest results contrast with a loss of $236,000 for the previous fiscal year.
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BUSINESS
August 5, 1993
Tennis-shoe maker Vans Inc. said Wednesday that it has appointed Stanley Glickman to the newly created position of assistant to the president and chief executive. The new post is part of a restructuring, the company said. Glickman, who was formerly vice president of marketing, said he does not think the company will be laying off employees as a result of its new, more fashion-conscious direction. "It's a matter of aligning people's skills with the direction of the company," he said.
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BUSINESS
December 16, 1992 | TOM McQUEENEY, SPECIAL TO THE TIMES
Vans Inc.'s stock dropped 18% in heavy trading Tuesday after a major San Francisco brokerage lowered its rating of the stock from "buy" to "hold." The decline prompted other analysts to recommend the stock of Vans, an Orange company that makes casual shoes, as a bargain at the lower price, given what they view as the company's long-term growth potential. In Tuesday's trading on the NASDAQ market, Vans shares lost $2.25 apiece to close at $10.25 after Montgomery Securities analyst Alice A.
BUSINESS
July 27, 1993 | GREG JOHNSON, TIMES STAFF WRITER
For Vans Inc., fashion used to mean sticking close to the company's proven design for its casual athletic footwear. Colors sometimes changed, but Orange-based Vans rarely tinkered with the style of the canvas sneakers that are a staple among young males ages 12 through 17. But with shoe sales stalled and profit margins being eroded by intense competition from off-shore manufacturers, Vans has given its designers room to roam.
BUSINESS
August 10, 1990 | CHRIS WOODYARD, TIMES STAFF WRITER
When it comes to colors, few shoemakers can rival Vans. The company's canvas sneakers are sold in more than 30 different shades and prints, from red checkerboard to little green fish swimming through a sea of black-and-white swirls. But when a retailer recently placed a large order for sneakers in bright purple, green and orange, Vans didn't have them. But the shoe manufacturer promised that it could make them--fast. And therein lies the Vans secret.
BUSINESS
September 19, 1991
The Vans factory in Orange is a colorful sea of sneakers. The factory's 2,000 workers stitch up 4.5 million pairs a year, of which about 40% involve custom orders. Despite the complexity of shoemaking, the company's mass production techniques have cut the actual direct labor time to make a pair of sneakers to about 35 minutes. "The key to our factory is that we have a very skilled and special work force," said company President Richard Leeuwenberg. Founded in 1966 as the Van Doren Rubber Co.
CALIFORNIA | LOCAL
January 15, 1993 | GREG HERNANDEZ, TIMES STAFF WRITER
In one of the largest mass arrests of its kind in the nation, immigration agents raided a shoe manufacturing plant early Thursday and arrested 233 workers believed to be illegal immigrants, officials said. At 8 a.m., 60 Immigration and Naturalization Service agents surprised workers at the Vans Inc. Orange plant at 2900 Batavia St. INS spokesman John Brechtel said almost all of the arrested employees are suspected Mexican nationals who were working with false documents.
BUSINESS
July 23, 1993 | GREG JOHNSON, TIMES STAFF WRITER
Vans Inc. reported $2.7 million in profit, or 28 cents a share, for its latest fiscal year. That was down sharply from a profit of $6.5 million, or 72 cents a share, for the previous year. The shoemaker's revenue for the 12 months ended May 31 was $86.6 million, down from $91.2 million. The Orange-based company also reported that Walter E. Schoenfeld, board vice chairman and acting president, has been elected president and chief executive officer. "We are extremely pleased with the direction Mr.
NEWS
June 5, 1993 | MICHAEL FLAGG, TIMES STAFF WRITER
One of the founders of sneaker manufacturer Vans Inc. should pay his ex-wife half the $22 million he made on the sale of his company stock, a judge said Friday, after telling her when they divorced that the stock was worth only $1 million. Serge and Sally d'Elia divorced in July, 1986, after what her lawyers said was 22 years of marriage. As part of the settlement, he gave her $500,000--half the $1 million he told her his one-third ownership in Vans was worth.
BUSINESS
March 27, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
The maker of the Vans brand of sneakers and casual shoes reported a larger-than-expected quarterly loss of $2.4 million Friday and said that its president has resigned. The news sent Vans Inc.'s stock down $2.25 a share to close at $6.875 in NASDAQ trading. The price hit a peak last year of $25.75. Industry analysts tried to calm the market with projections of long-term health for the 27-year-old Orange-based company, which over the years has seen its fortunes soar and sink. Richard P.
BUSINESS
March 27, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
The maker of Vans brand of sneakers and casual shoes reported a larger than expected quarterly loss of $2.4 million Friday and said that its president has resigned. The news sent Vans Inc.'s stock down $2.25 a share to close at $6.875 in NASDAQ trading. The price hit a peak last year of $25.75. Industry analysts tried to calm the market with projections of long-term health for the 27-year-old Orange-based company, which over the years has seen its fortunes soar and sink. Richard P.
BUSINESS
January 30, 1993 | From Times Staff and Wire Reports
Vans Shares Plunge 29%: A day after Vans Inc. predicted a third-quarter loss, the stock price for the Orange company tumbled 29% in heavy trading. The sneaker maker's shares lost $3.75 Friday to end the week at $9.25 in trading on the NASDAQ market. The price drop came after the company said that rainy weather and the effects of an immigration raid at its main production plant in Orange could result in a "small net loss" for its fiscal third quarter, which ends Feb. 28.
BUSINESS
January 29, 1993 | SUSAN CHRISTIAN, TIMES STAFF WRITER
This has not been a lucky month for Vans Inc. Thirteen days of rain slowed down shoe shipments to Mexico and kept Southern California shoppers at home. And on Jan. 14, immigration agents arrested 233 workers at the sneaker manufacturer's plant in Orange. The rain, the raid and the recession conspired to pull down sales and earnings projections for the quarter that ends Feb. 28, Vans said Thursday.
BUSINESS
January 29, 1993 | SUSAN CHRISTIAN, TIMES STAFF WRITER
This has not been a lucky month for Vans Inc. Thirteen days of rain slowed down shoe shipments to Mexico and kept Southern California shoppers at home. And on Jan. 14, immigration agents arrested 233 workers at the sneaker manufacturer's plant in Orange. The rain, the raid and the recession conspired to pull down sales and earnings projections for the quarter that ends Feb. 28, Vans said Thursday.
BUSINESS
January 21, 1993 | DEBRA CANO, SPECIAL TO THE TIMES
Shoemaker Ohannes Topchian pulls red leather onto the shoe sole with precision. Using a small hammer, he taps as he stretches the leather onto the last, a plastic form shaped like a foot. Lasting shoes by hand is nearly a lost art in the United States--and Cypress Footwear Inc. in Buena Park, a manufacturer and retailer of women's shoes, is carving out a market niche as one of the few companies that still does it the old-fashioned way. "That's a talent.
BUSINESS
January 19, 1993 | DEBRA CANO, SPECIAL TO THE TIMES
Shoemaker Ohannes Topchian pulls red leather onto the shoe sole with precision. Using a small hammer, he taps as he stretches the leather onto the last, a plastic form shaped like a foot. Lasting shoes by hand is nearly a lost art in America--and Cypress Footwear Inc. in Buena Park, a manufacturer and retailer of women's shoes, is carving out a market niche as one of the few companies that still does it the old-fashioned way. "That's a talent.
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