Timberland reports loss

July 27, 2006

NH Business Review Staff,

The Timberland Company reported a net loss of $13 million for the second quarter ending June 30.

The results compare to a net income of $6.3 million reported for second quarter of 2005.

According to Timberland officials, foreign exchange rate changes reduced second quarter revenues by 0.6 percent to $1.3 million. International revenue increased by 1.1 percent (2.3 percent on a constant dollar basis). Declines in boots and kids’ sales lead to a 10 percent decline in U.S. revenues.

Revenue from apparel and accessories increased by 20 percent to $71.5 million. Global footwear revenues declined by 15.1 percent to $150.8 million.

Global wholesale revenue decreased by 7.5 percent to $156.1 million. Timberland experienced a 5.6 percent decline in global comparable store sales.

“As anticipated, we saw pressure on our overall results,” said Jeffrey B. Swartz, president and CEO of Timberland. “We believe the development of our global business portfolio will provide a strong foundation for sustaining our long-term growth and building Timberland’s value as a brand and enterprise.” – TRACIE STONE

Categories: News

More news from NHBR:

Littleton company aims for a big bite of the outdoor business

Adventure Ready Brands makes health and safety products at North Country industrial park

Take 5: WalletHub study, employment rate and housing preference

NH Business Review's biweekly snapshot of business and industry statistics

Wooden Judicial Hammer On Table Close Up. Law And Justice. The Courtroom

AG says federal judge exceeded her authority in inspection ruling

A federal judge exceeded her authority by ordering the state to continue its mandatory vehicle inspection program after it was repealed, NH Attorney General John Formella argued in a legal filing Thursday, March 19, with the 1st U.S. Circuit Court of Appeals.

Former Ocean Spray CEO to serve as UNH commencement speaker

Tom Hayes, ‘87, former CEO of Ocean Spray, will deliver the commencement address at the University of New Hampshire undergraduate ceremonies on May 16. A respected leader in the food industry, with more than three decades of experience guiding major consumer brands, Hayes will offer words of inspiration to the class of ‘26.

Manchester’s Exacom acquired by Motorola Solutions

Exacom, which provides voice and multimedia recording and logging solutions for 911 emergency communications, has been acquired by Motorola Solutions (NYSE: MSI). Terms of the transaction were not disclosed.

Keene State College convenes national leaders to address future of occupational safety and construction workforce

Keene State College’s (KSC) Safety and Construction Sciences programs recently hosted a three-day summit that brought students, faculty, alumni and industry leaders from across the country to address the future of the occupational safety profession and the growing demand for qualified safety professionals.

Federal funding cuts prompts closure of Education Alliance for NH

The board of directors of the Education Alliance for New Hampshire (EANH) has voted unanimously to close the organization’s operations following the loss of significant federal funding that has historically supported its core college access programs, the organization said in a press release.