Vans Posts Strong Q2 SalesFriday, July 20, 2012
Cypress-based Vans Inc. logged strong global sales gains during the June quarter, results that came just weeks after its parent company announced a five-year plan to add $1 billion in revenue for the maker of skateboarding-inspired clothes, shoes and accessories.
Vans, with 2011 revenue of $1.2 billion, is part of Greensboro, N.C.-based VF Corp., which also owns the Timberland and North Face brands among others.
VF announced a five-year growth plan for Vans that includes new products, retail store growth and international expansion.
Vans’ global revenue in the second quarter increased 29% in constant currency, which excludes the effects of shifting exchange rates.
The company’s Americas division saw revenue increase in the low double digits in constant currency terms, which was attributed to growth in the company’s retail and wholesale business. Sales through company-owned stores and online grew 15%.
Vans added seven company-owned stores during the June quarter.
The company has more than 300 stores worldwide.
Vans’ European business more than doubled its revenue from a year earlier in constant currency terms.
Vans launched seven e-commerce sites in international markets earlier this week, including the U.K., Germany and France.
Sales in Asia were up 20% from a year earlier, excluding the impact of exchange rates.
On the marketing front, the annual Vans Warped Tour is more than halfway over this year. The company is considering expansion of the music festival into Latin America and Europe, VF Vice President and group president of VF’s outdoor and sports Americas division Steven Rendle said during an earnings call earlier this week.