US: Rocky Brands sees third-quarter profit rise
- Q3 profit climbed 3% to $5.4m
- Gross margin reached 36.1%
- Sales up 2% to $72.5m
Rising footwear sales has driven Rocky Brands to post a 3% rise in third-quarter net profit.
Net income reached US$5.4m over the three months ended 30 September, compared to $5.2m the prior year. Income from operations climbed 4.9% to $7.9m.
Gross margin was $26.2m, or 36.1% of sales compared to $25.6m, or 36% for the same period last year.
The outdoor, work apparel and footwear maker said net sales edged up 2% to $72.5m. The Durango City line of fashion boots helped footwear sales to increase 9%.
Retail sales fell 6.8% to $9.6m, while wholesale sales rose 4.5% to $62.9m.
CEO and president David Sharp said: "We are pleased that several of our more recently launched footwear initiatives once again delivered strong results."
"As apparel sales to one of our customers continue to decline and growth projections for the overall work and hunting footwear markets remain modest, we are encouraged by our ability to successfully develop new growth vehicles for the future."
Unseasonably warm weather weighed on the fourth quarter at Rocky Brands Inc, but the footwear and apparel maker is confident a new US military contract will help top-line growth in the first half of 2...
- Cotton supply chain transparency an ongoing issue
- Supply chain takeaways from Sourcing at MAGIC
- No simple way to be sustainable, says SAC CEO
- Why voters don’t want more global supply chains
- What's 3D-printing doing for apparel and footwear?
- Li & Fung eyes supply chain speed in 3-year plan
- Nike and Crystal Group "doing well by doing good"
- Zara USA faces US$5m deceptive pricing lawsuit
- What does supply chain mapping really mean?
- EU clothing imports from China continue to plunge
- Too Many Standards
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Under Armour, Inc. (UA) - Financial and Strategic SWOT Analysis Review
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras