Home / Knowledge / News / Fashion / 'Our product is better than ever' - Timberland President
'Our product is better than ever' - Timberland President
Nov '09
The Timberland Company reported third-quarter 2009 net income of $37.8 million and diluted earnings per share of $0.68. These results compare to third-quarter 2008 net income of $30.7 million and diluted earnings per share of $0.52.

Third-Quarter 2009 Results Summary:
- Revenue remained relatively flat at $421.8 million compared to the prior year but was up 1.7% on a constant dollar basis, reflecting strong growth in the boots business in Europe and SmartWool brand offset by declines in casual footwear and Timberland brand apparel. Foreign exchange rate changes decreased third-quarter 2009 revenue by approximately $9 million due to the strength of the U.S. dollar relative to the British Pound and the Euro versus last year.

- North America revenue increased 2.0% to $188.2 million, reflecting strong growth in the kids' boot business and in the SmartWool brand. Europe revenue decreased 2.3% to $195.2 million but increased 3.3% on a constant dollar basis. European results reflect strong increases in the boots business across all categories which partially offset declines in the casual and apparel businesses. Asia revenue decreased 2.3% to $38.3 million, and decreased 9.1% on a constant dollar basis, driven by declines in casual footwear and apparel, partially offset by strengthening of the men's and kids' boots businesses.

- Global footwear revenue increased 1.8% to $319.1 million, primarily due to strength in the boots business across all markets. Apparel and accessories revenue decreased 6.7% to $95.8 million, due to softness across all regions.

- Global wholesale revenue was relatively flat at $342.2 million. Worldwide consumer direct revenue decreased 4.2% to $79.5 million, reflecting the adverse impact of foreign exchange and weakness in the North America outlet stores.

- Operating income for the third quarter of 2009 was $58.5 million, compared to operating income of $53.2 million in the prior year period. In the quarter, foreign exchange rate changes decreased operating income by approximately $7 million.

- In the third quarter of 2009, the effective tax rate was 38.2%. For the full-year 2009, the Company anticipates that its effective tax rate will be approximately 28.5%.

- In connection with its stock buyback program, the Company repurchased approximately 755 thousand shares in the third quarter of 2009 at a cost of approximately $10 million.

- The Company ended the quarter with $112.9 million in cash and no debt. Inventory at quarter end was $201.7 million, down 7.8% versus 2008 third-quarter levels, reflecting the Company's continued focus on maintaining clean inventory levels. Accounts receivable increased 1.1% to $270.3 million, compared to the prior year.

Jeffrey B. Swartz, Timberland's President and Chief Executive Officer, stated, “I am optimistic about what I am seeing this fall. Our product is better than ever, our marketing is loud and distinct and our team is focused and energized by the progress we have made against our strategic initiatives. We are finding new and unique ways to link commerce and justice with products like our Earthkeepers line and with marketing initiatives like Timberland PRO's “Stay

Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Interviews View All

Hannah Lane

Encouragement from brands will motivate supply chains to become more...

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Urmil Arya

Sushila International, a well established textile organisation established ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search