Timberland warns livestock diseases will impact profits

09/04/2001
The US outdoors footwear producer Timberland Co. has warned its shareholders that Europe’s ongoing problems with livestock diseases will negatively impact on the company’s financial performance this year.

The New Hampshire-based maker of boots, shoes, apparel and outdoor accessories noted that leather hide prices have risen and may continue to do so throughout 2001. Europe’s problems with BSE and Foot and Mouth Disease were not the only problems cited. A downturn in beef consumption was also noted, together with a reduction in the availability of US-sourced hides, due to lower levels of profitability among U.S. ranchers and beef packers.