.The outdoor apparel and footwear company, currently being
acquired for $2 billion by VF Corporation, said revenues had increased
15.4% in North America during the quarter, while sales in Europe had
risen by 37.4% and in Asia by 40% ..Footwear revenues increased
28.2% and apparel and accessories sales were up 26.8%, while wholesale
revenues lifted 28.7% and consumer direct sales rose 24.5%, Timberland
said ..However, gross margins were down 210 basis points to 47.4%,
with higher product costs more than offsetting the favourable impact of
foreign exchange rates .”Timberland said: “The company expects
higher product costs to continue through 2011; however, the company
expects a positive impact from strategic price increases in the back
half of the year. ”
Date:8/7/2011
Source:Egytex.com