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Industry: Email Alert RSS FeedInventory reduction blamed for Timberland 2d qtr. loss. (Timberland Co. reports losses due to inventory reduction program)
Footwear News, August, 1991 by Tedeschi, Mark
Inventory reduction blamed for Timberland 2d qtr. loss
HAMPTON, N.H. - Due to a continuing inventory reduction program, The Timberland Co. reported a loss of $542,000, or a loss of 5 cents per share, for the second quarter ended June 30, against earnings of $505,000, or 5 cents, in the year-earlier period.
Second-quarter sales advanced 18.1 percent to $44,965,000 from sales of $38,045,000 a year ago.
Timberland stock closed at 8 3/4 last Thursday, down 3/8, and has traded in a 52-week high/low range of 10 5/8 and 5.
Carden Welsh, Timberland's corporate treasurer, said the inventory reduction program will continue throughout the year, but he said the company is not predicting any further losses.
"Towards the end of last year...
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