NEW YORK — Rising foreign and domestic sales sent second-quarter earnings climbing for Timberland Co.
For the three months ended July 2, the Stratham, N.H.-based outdoor footwear and apparel retailer saw earnings jump 35.4 percent to $7.9 million, or 22 cents a diluted share, compared with earnings of $5.8 million, or 16 cents, in the year-ago period.
Sales advanced 8.7 percent to $230.2 million from $211.7 million in the same period last year. Footwear continued to be the company’s biggest seller, rising 6.7 percent to $173.4 million. However, sales of apparel and accessories posted the largest gains, expanding 17.1 percent to $54.7 million from $46.7 million.
“We continue to be pleased with our progress and improving performance at our U.S. retail stores and are beginning to evaluate selective expansion of this business as we move forward,” said Brian McKeon, chief financial officer, during the company conference call.
Sales in the company’s international segment are being fueled by Asian markets, Japan in particular. According to McKeon, revenues generated in Asia grew 17 percent on a constant dollar basis during the quarter.
Jeffrey Swartz, president and chief executive officer, described the company’s Asian customer as a distinctly “younger, more fashion-forward consumer” on the call.
Slumping sales in European markets dragged on results for the international segment. For the quarter, the international sales increased 10.5 percent to $91.2 million from $82.6 million.
Earnings for the first six months of the year zoomed up 55.2 percent to $39 million, or $1.09 a share, compared with earnings of $25.1 million, or 69 cents, in the year-ago period.
Sales for the period rose 14.3 percent to $552 million from $482.7 million.
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