USA: Rocky Shoes' Sales/Profit Slip In Q2
Leading manufacturer of rugged outdoor and casual footwear, Rocky Shoes & Boots Inc, on Thursday posted a sharp fall in second quarter net income to $100,000 from $700,000 a year-ago amid a "weak" retail market.
The Ohio-based company said net sales for the three months ended June 30 slipped to $19.2 million from $22m, with higher sales of military boots, Wild Wolf by Rocky, and Rocky Gear offset by lower shipments of rugged outdoor footwear.
It revealed second sales included $2.6m of military boots versus $1.7m for the same period in 2001 and said progress was achieved regarding controllable costs, especially in inventory, selling, general and administrative expenses, and funded debt.
Rocky chairman and CEO, Mike Brooks, commented: "During the second quarter we continued to respond to the weak retail environment by staying in close contact with our customers, actively monitoring production and inventory requirements, and implementing additional cost reductions.
"The slowdown has caused a number of customers to adjust their normal buying patterns. While the sales outlook remains challenging in the rugged outdoor category, we are making progress in other areas of our business.
"Initial sales of Rocky Gear, which includes branded clothing and accessories, have been positive as customers continue to respond favourably to the Rocky brand."
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