Vans Reports Loss for Second Quarter

Vans Inc., which sells footwear geared to surfers and skateboarders, reported a fiscal second-quarter loss Thursday but backed Wall Street’s estimates for the third quarter.

The company reported a net loss of $3.7 million, or 20 cents a share, for the quarter, versus a profit of $513,000, or 3 cents a share, a year ago.

Net sales for the quarter were $60.6 million, compared with $68.3 million in the second quarter of last year.

Total U.S. sales, including sales through Vans’ U.S. retail stores, were $42.2 million, versus $49.2 million for the same period a year ago. Sales through the company’s U.S. retail stores decreased 0.7% to $23 million from $23.1 million during the same period a year before.

Comparable-store sales for the quarter declined 9.3% versus the same period last year. U.S. wholesale sales in the second quarter were $19.2 million, versus $26.1 million a year ago. Total international sales were $18.4 million, down 3.8% from $19.1 million a year ago.

The company said that for the third quarter it expected sales of $82 million to $85 million and that it remained comfortable with the Thomson First Call consensus estimate of 3 cents a share for the third quarter.