The Timberland Company has reported record first quarter net income of $42.2 million compared with first quarter 2004 net income of $31.1 million. First quarter revenue increased 10.1% to $354.2 million, driven by gains in both US and international markets. US revenues grew 4.0%, reflecting solid growth in footwear and apparel - and gains in both wholesale (+4.9%) and retail channels (+1.4% on a 3.9% comparable store sales gain). International results (+15.3% or +11.0% in constant dollars) were driven by strong constant dollar sales gains in Europe and Asia. Global retail comparable store sales increased 5.4%, reflecting gains in both U.S. and international markets. Overall revenue growth benefited from favorable foreign exchange rate changes - which added $7.4 million (or 2.3%) to first quarter 2005 revenue.

Share this story: