Timberland (TBL) Tops Q3 EPS by 6c, Comments on Outlook
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The Timberland Company (NYSE: TBL) reports Q3 EPS of $0.52, 6 cents better than estimates. Revenues were $423.6 million vs. $425.54 million consensus.
For the full year, the Company is still targeting mid-single digit revenue declines, consistent with economic conditions and due in part to its closure of certain underperforming retail stores and the licensing of its North America wholesale apparel business. The Company expects that weaker consumer spending globally will result in additional margin pressure and now anticipates flat to modest declines in operating margins for the full year. It continues to expect an effective tax rate in the range of 40%.
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