Home / Knowledge / News / Fashion / SmartWool registers double-digit growth in Q1

SmartWool registers double-digit growth in Q1

02
May '08
The Timberland Company reported first-quarter 2008 net income of $18.0 million and diluted earnings per share (EPS) of $0.30. First quarter diluted EPS was $0.31 when adjusted to exclude restructuring and related costs. These results compare to first-quarter 2007 net income of $9.3 million and diluted EPS of $0.15, or $0.22 when adjusted to exclude restructuring and related costs.

First-Quarter Results Summary:
• Revenue grew 1.2% to $340.4 million as foreign exchange rate changes, strong gains in SmartWool products and Timberland PRO series footwear and moderate growth in Timberland casual footwear offset declines in boots and kids' footwear and decreases in Timberland apparel revenue in North America. Foreign exchange rate changes increased first-quarter 2008 revenue by approximately $16 million, or 4.8%, due to the strength of the Euro and the British Pound, and increased operating income by approximately $6 million.

• North America revenue declined 4.7% to $137.7 million, or 5.1% on a constant dollar basis, reflecting soft consumer spending in both the U.S. and Canada. Europe revenue increased 6.9% to $164.8 million driven by gains in foreign currency, but decreased 1.6% on a constant dollar basis.

• Asia revenue increased 0.7% to $37.9 million driven by gains in foreign currency, but decreased 6.3% on a constant dollar basis. Geographic results reflect the introduction of new reporting segments, a change that the Company believes will better reflect the way it now manages its business.


Interviews View All

Yash Agarwal, Hitansh Online

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

C Dhandayuthapani,

C Dhandayuthapani

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

Poonam Naik Desai,

Poonam Naik Desai

Peekaboo is a sustainable, high quality, luxury sleepwear brand providing...

Francesco Gozio,

Francesco Gozio

Italian company Marzoli is a leading manufacturer of the complete line of...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On

Follow Fibre2Fashion On


Advanced Search