ORANGE COUNTY
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. Quarterly sales, the company said, will be down about $2 million from the same period last year, when Vans posted a profit of $1.5 million on revenue of $19.7 million.
