US: Rocky Brands returns to profit in Q2
- Q2 net sales up 7.9% to US$55.2m
- Net income of $0.5m, versus loss of $1.4m
- Retail sales slightly down on shift to internet
Footwear and apparel company Rocky Brands moved into the black with a US$0.5m net profit in the second quarter, driven by a 7.9% sales increase.
The company said retail sales had fallen slightly, but added that this was the result of an ongoing transition to more internet-driven transactions and the less frequent use of mobile stores to cut costs.
“There were several highlights from the second quarter, most notably the dramatic improvement in our bottom line,” said Rocky Brands chairman and CEO Mike Brooks.
“We are very pleased with the progress we have made towards building a more efficient organisation, and we look forward to taking advantage of our improved position to better capitalise on the growth opportunities that are ahead.”
Rocky Brands has announced that the company is planning to promote president and chief operating officer David Sharp to president and chief executive officer as of 1 July 2011. ...
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