Income slips at Timberland
Footwear, apparel and accessories firm The Timberland Company has reported fourth-quarter net income of $38.3 million, significantly lower than the $46.9 million reported in the prior year’s quarter. For the full year, net income slipped to $106.4 million compared with $164.6 million.
On a more positive note, fourth quarter revenue increased 4.9% as declines in boots and kids’ sales were offset by gains in new brands (including SmartWool), Timberland Pro series, outdoor performance footwear and Timberland apparel and accessories. International revenue increased by 17.4%, supported by strong growth in Europe, Asia and
Global footwear revenue fell 0.9% to $354.2 million as declines in boots and children’s sales offset gains in Timberland Pro series, outdoor performance and casual footwear.