Timberland’s results continue to slide
The fortunes of US-based footwear, apparel and accessories brand The Timberland Company are showing no signs of changing for the better as it reported a further slip in revenues for the third quarter. The company, whose results have been declining since the first quarter of 2006, posted revenue of $433.3 million for the third quarter, down 13.9% compared with the prior year.
It attributed this fall to anticipated declines in its boots and children’s businesses as well as lower revenue at its Timberland apparel business.
International revenue fell 4.4%, driven by declines in Europe and Canada, which offset strong growth in Asia. US revenues also decreased, falling 23.3%, again due to declines in boots and children’s sales.
As a result of lower boot and children’s sales, as well as a decline in casual footwear sales, revenues at its global footwear segment declined 15.7% to $310.3 million.
