The 7Th Largest Shoemaker In The US Expects To Make China The Largest Sales Market In Five Years.

November 11th Seventh National Congress of the United States

JeffreySwartz, chief executive officer and chief executive of CEO, said in an interview with Reuters, that its European and Asian businesses will maintain strong growth while US business will grow this year.

According to Swartz, the number of stores in the world will increase by 50% in the next three years. The number of Chinese stores will double, the US will increase by about 50, and the number of shops in Europe will increase by about 100 in the next 1000 years.

He said that China is currently the world's fastest growing country and will remain in the next three years, at least for Timberland.

"We now have 110 stores in China and plan to increase more than double in the next three years. This speed is not radical, because I am not willing to be radical, and I would like to think more carefully," he said.

In terms of sales, China is currently the fifth largest market in Timberland..Swartz expects that China will leapfrog to second in three years and become the largest market in five years.

The company announced last week that it achieved a net profit of $52 million 200 thousand in the third quarter of this year, exceeding the market expectations, mainly due to the strong European business and the improvement in gross profit. The quarterly revenue grew by 2.5% to 432 million dollars annually. Of them, North America decreased by 3.6%, Europe grew by 5%, and Asia grew by 19.7%.

Swartz predicts that "the US business will grow in 2010, and this has not happened for several years. If we can achieve even slow growth in North America, it will be a good result."