ORANGE, Calif.--(BUSINESS WIRE)--March 19, 1996--Vans, Inc.   
(Nasdaq: VANS) today announced strong increases in sales and 
earnings for the third quarter and nine months ended February 24, 
1996.  

Net sales for the third quarter increased 28.5% to $27,932,000,  
compared to $21,733,000 for the same period in fiscal 1995.  Net  
income for the third quarter increased 129.8% to $901,000, 
compared  to $392,000 for the third quarter of last year.  Earnings 
per share  for the quarter rose to $0.09, versus $0.04 in the same 
period a year ago.  

Walter E. Schoenfeld, President and Chief Executive Officer,  noted, 
"We are very pleased with the continued improvement in our  
performance, which was led by growth in international sales, and the  
strengthening of the Vans brand name worldwide.  Furthermore, the  
response to our latest product designs at the recent industry trade  
shows, both here and abroad, was very gratifying."  

For the first nine months of fiscal 1996, net income increased  47.1% 
to $2,634,000, compared to $1,791,000 last year.  Earnings per  share 
for the nine-month period were $0.26, versus $0.18 for the  
comparable period last year.  Net sales for the nine-month period  
increased 34.6% to $85,434,000, compared to $63,470,000 for the 
same  period a year ago.  

Sales to the Company's international accounts for the third  quarter 
grew to $8,802,000, a 152.8% increase over the comparable  quarter 
last year.  Sales to the Company's national accounts were  relatively 
even at $11,819,000, as compared to $12,010,000 a year  ago.  For 
the first nine months of fiscal 1996, sales to the  Company's 
international accounts increased 67.9% to $18,194,000, as  compared 
to the same period a year ago, and sales to national  accounts 
increased 31.2% to $45,962,000.  

Sales through the Company's 81-store retail chain increased 17.1% to 
$7,311,000, as compared to the same period a year ago, with  
comparable store sales (sales at stores open a year or more) up  
10.5%.  For the first nine months of fiscal 1996, retail sales  increased 
20.9% to $21,278,000, and comparable store sales increased  11.4%.  

The Company also announced that it has reached an  agreement-in-
principle to settle the class action securities lawsuit  that was filed 
against it in June 1995.  In connection with the  proposed agreement, 
the Company's insurance carrier will pay the  entire settlement 
amount.  The agreement is subject to the execution  of definitive 
settlement documentation and approval of the Court.  

Vans, Inc. is a branded manufacturer, wholesaler and retailer of high 
quality, stylish casual and active casual footwear, as well as  
performance footwear for enthusiast sports and snowboard boots,  
through a distribution system that includes a network of 
independent  and national retailers, international distributors for 53 
countries,  and 81 Company-owned stores and factory outlets.  The 
Company sources its footwear from third party foreign 
manufacturers and the Company's own 90,000 square foot 
manufacturing facility in Vista, California.  
-0-
*T

VANS, INC.
Condensed Consolidated Financial Summary, Third Quarter, Fiscal 
Year 1996

(in thousands except per share amounts)

Statements of Operations

Three Months Ended        Nine Months Ended

2/24/96   2/25/95         2/24/96   2/25/95

Net Sales                     $27,932   $21,733         $85,434  $63,470

Cost of goods                  16,753    12,635          52,289   37,215

Gross margin                   11,179     9,098          33,145   26,255

Expenses:
Selling & Distribution          5,246     5,025          17,763   13,839
Marketing, advertising &
   promotion                    2,744     1,225           5,817    3,081
General & Administrative        1,053     1,510           3,585    4,609
Other income (a)                (436)     (430)          (1,376)  (1,551)
Goodwill amortization             191       410             573    1,230
Net interest & debt expense       880       704           2,393    2,061

9,678     8,444          28,755   23,269

Earnings before income taxes    1,501       654           4,390    2,986
Income tax provision              600       262           1,756    1,195

Net income                   $    901   $   392         $ 2,634  $ 1,791

Weighted average shares        10,454     9,863          10,200    9,830

Net earnings per share       $   0.09   $  0.04         $  0.26  $  0.18

(a)  Other income consists primarily of licensing royalties and 
sublease 
income. 
-0-
                                VANS, INC
Condensed Consolidated Financial Summary, Third Quarter, Fiscal 
Year 1996

(In thousands of dollars)

Balance Sheets

February 24, 1996   February 25, 1995
ASSETS:

Current assets
Cash                             $    561            $  3,693
Trade receivables                  18,442              12,688
Inventory (a)                      17,529              23,285
Other                               2,584               3,054

Total current assets             39,116              42,720

Property, plant & equipment-net    10,753              20,183
Intangible assets                  16,701              37,683
Other (b)                           6,139               1,303

Total assets                    $72,709            $101,889

LIABILITIES:

Short-term borrowings              $5,953             $   ---
Current portion long-term debt      5,800               5,800
Restructuring costs                 2,364                 ---
Other current liabilities          11,143              12,123
Long-term credit facility           4,648                 ---
Long-term debt                     17,400              23,200
Other                               1,949               1,576

Total liabilities                49,257              42,699

Stockholders' equity               23,452              59,190

Total liabilities & 
  stockholders' equity            $72,709            $101,889

Sales by Distribution Channel

Three Months Ended             Nine Months Ended

2/24/96    2/25/95            2/24/96     2/25/95
National          $   11,819   $  12,010          $  45,962   $  35,039
Retail                 7,311       6,241             21,278      17,598
International          8,802       3,482             18,194      10,833

27,932   $  21,733          $  85,434   $  63,470

(a) Net of inventory reserves of $600,000 and $625,000 at February 
24, 1996 and February 25, 1995, respectively.  

(b) Effective July 1, 1992, the Company became self-insured for 
workers' compensation claims.  In connection with the self-insurance 
the Company originally obtained a $2,300,000 irrevocable letter of 
credit collateralized by $2,500,000 in marketable securities.  In 
February 1995, the Company replaced the irrevocable letter of credit 
with a $2,300,000 surety bond which is collateralized by $680,000 in 
marketable securities, which are included in other assets.  

CONTACT: 

Morgen-Walke Associates 

David Walke/Eileen Howard

Stacey Herschaft

212/850-5600

Press: Miriam Adler

415/296-7383

KEYWORD: CALIFORNIA

INDUSTRY KEYWORD: RETAIL EARNINGS 



MAR 19,1996