Q1 results fall short for Timberland’s parent group
Footwear brand Timberland achieved sales revenues of $253.8 million in the first quarter of its current business year, the three months to July 1, 2023.
This figure represents a decline of 6% compared to the same quarter last year.
Parent group VF Corporation said Timberland had achieved revenue growth of 6% for the quarter in Europe and of 22% in Asia, but a fall of 21% in the Americas had brought the overall figure down.
Across all of its brands, VF Corporation reported revenues for the quarter of just under $2.1 billion, a fall of 8% year on year.
Chief finance officer, Matt Puckett, commented: “Our Q1 performance is not reflective of our standards. We remain focused on improving our operational execution, although it will take time for our revenue performance to benefit from actions that are under way.”
