Timberland third quarter revenue up
Third quarter revenue for the Timberland Company for this year amounted to $396.2 million – a 5.6 per cent increase on the same period in 2000. Earnings reached $48.5 million and net income totalled $57.5 million.
Domestic revenue for the quarter in review rose to $278.6 million, a 2.4 per cent increase on the equivalent 2000 quarter, and international revenue rose 13.9 per cent to $117.6 million, compared to the $103.2 million reported for the previous year. The latter generated 29.7 per cent of total third quarter 2001 revenue, which constituted an increase on the 27.5 per cent recorded for the same three months of 2000.
During the period, worldwide footwear revenue amounted to $305 million (up 2.6 per cent on 2000), worldwide apparel and accessories revenue reached $86.9 million (up 18 per cent), worldwide wholesale revenue was $320.4 (up 6.4 per cent) and worldwide retail revenue totalled $75.8 million (up 2.5 per cent). Domestic retail revenue at $52.4 million amounted to a 2.1 per cent decrease on the same quarter in 2000.
For the first nine months of 2001, revenue reached $842.5 million – a 10.7 per cent increase on the equivalent nine months in 2000, earnings were $76.5 million and net income was $81.1 million.
Looking ahead, the company has said that it expects little if any revenue growth during the rest of this year, reflecting the soft US market. Flat revenues are also expected for the first half of next year.
