The Timberland Co. narrowed its loss in the second quarter and saw a jump in revenue.
For the period ended July 1, the firm lost $20.1 million, or 39 cents a share, versus a loss of $23.5 million, or 44 cents, in the same period a year ago. Revenue was $240.1 million, versus $189 million a year ago.
Strong revenue growth of 27 percent mitigated the firm’s operating loss. However, total expenses grew 14 percent to $144.7 million, and gross profit margin slipped 210 basis points to 47.4 percent.
Timberland, which was acquired by VF Corp. for $2 billion in June, did not issue a statement with its earnings report.
The Stratham, N.H.-based firm ended the quarter with cash and cash equivalents of $233.8 million, down slightly from $237.8 million a year earlier, and no debt.