Timberland Closing 40 Stores Internationally

STRATHAM, NH-Footwear and apparel company Timberland Co. is closing 40 of its large-format specialty stores in the US, Europe and Asia. Management is also closing “several” of its outlet stores, and did not give specific locations of the units it is shutting, though most of them are in the US.

Executives say that the “action is consistent with the company’s strategy to transition to smaller, footwear-focused stores in the US and in certain international markets.” The moves will increase annual operating profits by $6 million, while lowering revenue by $40 million, they forecast.