Higher Q3 income at Timberland
The Timberland Company has posted net income of $37.8 million for the third quarter compared with $30.7 million during the same period last year.
Revenue remained relatively flat at $421.8 million, but rose 1.7% on a constant dollar basis. Global footwear revenue increased 1.8% to $319.1 million, primarily due to strength in the boots business across all markets.
North America revenue increased 2% to $188.2 million, reflecting strong growth in the children’s boot business and in the SmartWool brand. Europe revenue fell 2.3% to $195.2 million but increased 3.3% on a constant dollar basis. European results reflected strong increases in the boots business across all categories which partially offset declines in the casual and apparel businesses. Asia revenue dropped 2.3% to $38.3 million, and decreased 9.1% on a constant dollar basis, driven by declines in casual footwear and apparel, partially offset by strengthening of the men’s and children’s boots businesses.
