NEW YORK — Timberland Co. reported a 30.9 percent decline in first-quarter earnings on a slight decline in revenues, which it attributed to soft boot sales and negative foreign exchange impacts.
The company also guided second-quarter revenues to be down in the mid-single digits with an operating loss of $20 million to $25 million. Timberland cited in part the impact of anti-dumping duties on European Union footwear sourced in China and Vietnam.
In the three months ended March 31, the Stratham, N.H.-based company earned $29.2 million, or 45 cents a diluted share, matching analysts’ estimates. Comparatively, the company had a net profit of $42.3 million, or 61 cents, last year. Timberland noted that earnings-per-share in last year’s quarter would have been 58 cents when including costs related to stock options and its employee stock purchase plan.
“Gross margin pressures related to product mix changes and macro factors, investments in new business development, and cost growth related to new accounting requirements for equity-based compensation contributed to an overall decline in reported earnings,” Brian McKeon, chief financial officer of Timberland, said in a post-earnings conference call. “While we are pleased with our progress in developing Timberland’s global business portfolio, we expect continued pressure on our U.S. boot business this year and are advancing proactive steps in a concerted effort to protect our brand, enhance trade margins and ensure a strong long-term relationship with boot consumers.”
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)