Vans reports record Q3 sales; Oakley predicts 10 percent growth

Vans, Inc. has announced record financial results for the third quarter of fiscal 2004 ended February 28, 2004. Net sales for the business for the quarter (excluding skateparks expected to be closed) increased 10 percent to $86.3m, compared to $78.4m for the third quarter of fiscal 2003. And Oakley, Inc. has reiterated its 2004 sales and earnings guidance provided earlier this year. The company expects full year sales growth of 10 percent, to approximately $574m, with earnings expected to grow 15 percent to 64 cents per diluted share.
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Gary H. Schoenfeld, president and CEO of Vans, said:

"Following an excellent holiday season, all three channels of our business, U.S. Wholesale, Retail and International exceeded our revised plans both in terms of revenues and gross margins, resulting in total sales and earnings well above expectations."

The full release can be downloaded here: http://www.bikebiz.co.uk/.../VansQ3.pdf

Oakley's press release can be found here:

http://investor.oakley.com/phoenix.zhtml?c=67365&p=irol-newsArticle&t=Regular&id=507804&

Thanks to http://www.sportsonesource.com for the heads up on both stories.

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