Home / Knowledge / News / Apparel/Garments / Sales of SmartWool accessories up in North America
Sales of SmartWool accessories up in North America
Aug '10
The Timberland Company reported a second-quarter 2010 net loss of $23.5 million and a diluted loss per share of ($0.44). This includes a $13.2 million non-cash, pre-tax charge for the impairment of certain goodwill and intangible assets. These results compare to a second-quarter 2009 net loss of $19.2 million and diluted earnings per share of ($0.34).

Jeffrey B. Swartz, Timberland's President and Chief Executive Officer, stated, "We are pleased to report revenue growth and gross margin improvement in all three regions. These results were achieved by focusing on our core outdoor equities and executing against a consistent strategy to strengthen our brand globally. We are optimistic about the progress that we are making, despite ongoing cost pressures and macroeconomic uncertainty in key markets. While non-cash charges impacted our profitability for the quarter, our core business saw marked improvement, a clear indication that our product and brand initiatives are continuing to gain traction and that Timberland is positioned for long-term success."

Second-Quarter 2010 Results Summary:

• Revenue increased 5.1% to $189.0 million compared to the prior year period, reflecting growth across North America, Asia, and Europe.
• North America revenue increased 6.6% to $92.0 million compared to the prior year period, driven by growth in apparel and accessories. Europe revenue increased 1.4% to $66.8 million versus 2009 second-quarter levels, and increased 5.7% on a constant dollar basis. Double-digit growth in Italy, Germany, and Scandinavia was partially offset by declines in the UK and France as well as the impact from the strengthening of the U.S. Dollar. Asia revenue increased 9.6% to $30.2 million compared to the prior year period, and increased 4.8% on a constant dollar basis. Favorable foreign exchange rates, along with the continuation of significant growth in Taiwan and China compared to the prior year period, were partially offset by declines in the Asia distributor business.
• Global footwear revenue increased 3.7% to $131.6 million from the second quarter of 2009, driven primarily by increased sales of our Timberland PRO footwear in North America and a strong performance by the Europe wholesale business, partially offset by weakness in Europe retail stores. Apparel and accessories revenue increased 10.2% to $52.1 million compared to the prior year period, due to increased sales of SmartWool accessories in North America and Timberland brand apparel in Asia retail stores, partially offset by softness in Europe. Royalty and other revenue decreased 3.8% to $5.3 million compared to the prior year period primarily due to a decline in licensed kids' apparel in North America.
• Global wholesale revenue was up 8.3% to $117.5 million compared to the prior year period, due to double-digit growth in North America and Europe, partially offset by declines in Asia. Worldwide consumer direct revenue was flat comparedto the prior year period, as improved comparable store sales in Asia and the net addition of 8 new Asia retail stores since the second quarter of 2009 were offset by declines in Europe and North America. Overall, comparable store sales were flat versus the second quarter of 2009. The Company had 224 stores, shops, and outlets worldwide at the end of the second quarter of 2010 compared to 220 at the end of the second quarter of 2009.

Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Poojaa Kumar Deepak

Zeven's performance sports apparel is designed for the Indian body type,...

Abhishek Samdaria

GST will certainly reduce a lot of paperwork in future

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search