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By
Reuters
Published
Jul 29, 2009
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Timberland second quarter loss wider than estimates

By
Reuters
Published
Jul 29, 2009

July 29 (Reuters) - Bootmaker Timberland Co (TBL.N) posted a wider-than-expected quarterly loss, hurt by weakness in its casual footwear and apparel business and a stronger U.S. dollar, and sees the back half of 2009 to continue to be challenging.


www.timberland.com

The company, which believes there is insufficient visibility to set expectations for the remainder of 2009, said a stronger U.S. dollar versus the British pound and the euro hurt quarterly sales by about $11 million.

The company posted a net loss of $19.2 million, 34 cents a share, for the second quarter, compared with $18.9 million, or 32 cents a share, a year earlier.

Revenue fell 14 percent to $179.7 million. Global footwear revenue decreased 11.2 percent, while revenue from apparel and accessories declined about 25 percent for the period.

Analysts on average were expecting a loss of 30 cents a share, before special items, on revenue of $191 million, according to Reuters Estimates.

Timberland's shares closed at $14.82 Tuesday 28 July on the New York Stock Exchange. (Reporting by Amitha Rajan in Bangalore; Editing by Savio D'Souza)

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