Timberland reports record Q2 revenues - leatherbiz: Leading news site Leatherbiz

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Timberland reports record Q2 revenues

26/07/2005
The Timberland Company has reported second quarter net income of $6.3 million compared with second quarter 2004 net income of $7.9 million. Second quarter revenue increased 4.4% to a record $240.3 million, driven by gains in international markets which offset moderate declines in the US.

International results (+14.9% or +10.8% in constant dollars) were driven by strong constant dollar sales gains in Europe and Asia. US revenues declined 2.5%, as anticipated decreases in footwear sales offset double-digit gains in Timberland apparel. Overall revenue growth benefited from favourable foreign exchange rate changes - which added $3.7 million (1.6%) to second quarter 2005 revenue.

Global footwear revenues expanded 2.4% to $177.6 million, driven by growth in outdoor performance, children’s, Timberland PRO series and men's casual footwear. Global apparel and accessories revenue grew 9.0% to $59.6 million, reflecting gains in US and international markets.



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