Vans Says It Will Miss 2nd-Half Forecasts
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Bloomberg News
Vans Inc., a maker and retailer of athletic footwear and clothing, said fiscal second-quarter profit fell 84% and profit in the second half will miss estimates as sales decline.
The shares of Vans fell 35% to $9.10 in after-hours trading. They closed at $13.98 in regular trading and have fallen 17% this year.
Net income in the quarter ended Dec. 1 fell to $513,000, or 3 cents a share, from $3.2 million, or 21 cents, in the year-earlier quarter, the company said in statement.
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