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Rocky Brands announces third quarter boost

The company is expecting profitable growth.

Third-quarter net sales by Ohio-based Rocky Brands Inc increased by 4.6 per cent to $73.2 million – up from the $70.0 million in the same period of 2015. According to Mike Brooks, chairman and interim chief executive, there was some stabilisation in the company's wholesale business during the three months ending in September. This followed a difficult 12-month period for the work, western and hunting boot categories. In an effort to boost profitability, Rocky Brands adjusted its operating structure, leading to a reduction in its US workforce which will reportedly translate into an annual saving of approximately $3.6 million. In addition, the pressure on gross margins brought about by investments to support the increase in military footwear production in the Puerto Rico facility is expected to lessen before the end of the year.

"While we are disappointed in our recent performance, we remain confident that our ongoing efforts to reduce our dependence on optimal weather, along with the recent rightsizing of our organisation and improved manufacturing efficiencies, should contribute to more profitable growth and greater shareholder value," remarked Mr Brooks.

Rocky Brands designs, manufactures and markets footwear and apparel under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation, and the licensed brand Michelin.

Publishing Data

This article was originally published on page 3 of the December 2016 issue of SATRA Bulletin.

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