US: Rocky Brands Q2 earnings slide
- Q2 earnings down to $1.5m
- Gross margin narrows to 32.8%
- Sales climb 15.8%
US apparel and footwear company Rocky Brands saw its earnings slide in the second-quarter due to investments made to grow its brands.
Earnings amounted to US$1.5m in the three months to the end of June. This compared to earnings of $1.8m a year earlier.
Gross margin narrowed to 32.8% of sales, from 34.2% in the same period last year. This was driven by lower wholesale margins due to costs associated with a seeding programme with a key retail partner, and lower retail gross margin resulting from the group's transition to a web based retail platform.
Second quarter sales, however, were up 15.8% to $68.8m, boosted by an increase of 23.7% in wholesale revenues, and a 3.1% increase in retail sales.
"The investments we've made towards growing our brands and overall business continue to fuel record top-line results," said CEO David Sharp. "As we move into the back half of 2014, we believe we can continue to drive growth through compelling and innovative product introductions and begin delivering improved profitability through gross margin expansion and increased operating expense leverage."
US apparel and footwear company Rocky Brands has booked a pleasing first-quarter performance thanks to an increase in earnings and sales....
Athletic footwear is designed for sports and other forms of physical workout such as training, walking, running, jogging, and aerobics. It includes walking and running shoes, basketball shoes, fitness...
- US fashion firms share their sourcing strategies
- Cost biggest barrier to Bangladesh RMG remediation
- How apparel retailers should react to Brexit
- Bad sourcing blamed for pressure on retail margins
- Britain votes for Brexit – what happens next?
- Ten key trends in apparel and footwear markets
- Bangladesh firm comes top in World Textile Awards
- Columbia rain jacket a milestone in sustainability
- Primark continues US expansion with third store
- $360m logistics investment to benefit Bangladesh
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis
- Clothing & Footwear Retailing in Indonesia– Market Summary & Forecasts
- Clothing & Footwear Retailing in China – Market Summary & Forecasts
- Nike Inc in Apparel and Footwear (World)