USA: Vans Warns Of Steep Q4 Loss
Leading footwear designer and marketer Vans Inc, whose footwear is popular with skateboards and surfers, today warned it sees a bigger-than-expected fourth quarter loss. The California-based company cited slow-moving inventory and the axing of a skatepark for the steeper loss and said it now sees net sales of $60-$61 million compared to $85.2m in the year-ago period.