Vans, Inc (Nasdaq: VANS) has announced that it achieved a record opening day at its fifth VANS skate park at Milpitas, California. The 59,000 square foot park is part of a new entertainment wing of the two million square foot Great Mall of the Bay Area.

Gary H. Schoenfeld, Vans' president and chief executive officer commented: "Milpitas was our biggest opening to date with over 5,000 people in attendance on opening day. During the first three days of business, we sold a record number of memberships and achieved record revenues. It was particularly exciting to celebrate our pre-opening with over 20 professional skateboarding and BMX athletes, including Steve Caballero, Willy Santos, Salmon Agah and Tony Alva, with tremendous media coverage including local affiliates of ABC, CBS and Fox."

Mr Schoenfeld added: "The skate parks continue to be a successful part of our overall branding and retail strategy and we intend to selectively open more parks to further capitalize on what we have created.(a) We have begun construction on parks in Houston and Denver and have several other locations under consideration."(a)

Mr Schoenfeld concluded: "We are pleased with the continued positive comp gains in our stores, our new retail location at the Universal Studios CityWalk entertainment complex is outperforming expectations, and we continue to be very encouraged by our overall sales and bookings trends."(b)

Vans, Inc is a leading branded lifestyle company for the youth market. Vans reaches its 10 to 24 year-old target consumers through the sponsorship of Core Sports (such as skateboarding, snowboarding, surfing and wakeboarding, and through major entertainment events and venues, such as the VANS Triple Crown Series, the VANS Warped Tour, the VANS World Amateur Skateboarding Championships, the world's largest VANS skate parks, and the VANS High Cascade Snowboard Camp, located on Mt. Hood. The Company operates 132 retail stores in the US and Europe, and designs, markets and distributes active-casual footwear, clothing and accessories, performance footwear for Core Sports, snowboard boots, step-in snowboard boot bindings, and outerwear worldwide. Vans' Internet address is www.vans.com.

  • (a)These are forward-looking statements regarding the future financial performance of the Company's current and proposed skate parks, and the timing of opening new parks. The actual performance of such skate parks and the opening dates of the new parks could vary significantly. Important factors which could cause such financial performance to vary include, but are not limited to: (i) the ability to identify locations for the parks; (ii) the successful completion of the leases and construction of the proposed parks; (iii) the continued popularity of sports such as skateboarding, in-line skating and BMX bicycle riding; and (iv) the possible opening of competing skate parks by government municipalities and/or companies with significant brand recognition among the Company's customers. Important factors which could impact opening dates include, but are not limited to,(i) any unforeseen construction delays, and (ii) delays in the receipt of regulatory permits.


  • (b)This paragraph contains forward-looking statements about the Company's sales outlook for fiscal 2001. Actual sales results for the Company may vary significantly and could be impacted by a number of important factors, including but not limited to: (i) the occurrence of downward trends in the U.S. economy, foreign economies and the footwear industry, or the occurrence of events that adversely affect the world economy in general; (ii) changes in the fashion preferences of the Company's target customers and the Company's ability to anticipate and respond to such changes; (iii) increasing competition in all lines of the Company's business from both large, well-established companies with significant financial resources and brand recognition, and smaller niche competitors who market exclusively to the Company's target customers; (iv) the cancellation of orders which could alter bookings numbers; (v) the fluctuation of foreign currencies in relation to the U.S. dollar: and (vi) whether future skate parks opened by the Company will be as successful as the Company's current skate parks. Many of these factors, and others, are discussed more extensively in the Company's Annual Report on Form 10-K for the year ended May 31, 1999, which is filed with the Securities and Exchange Commission.