Home / Knowledge / News / Apparel/Garments / Rocky Brands retail sales up just 2.85% in Q1 2013
Rocky Brands retail sales up just 2.85% in Q1 2013
24
Apr '13
Rocky Brands, Inc. announced financial results for its first quarter ended March 31, 2013.

The Company reported first quarter net income of $0.9 million, or $0.12 per diluted share compared with net income of $0.7 million, or $0.10 per diluted share in the first quarter of 2012. First quarter 2013 net sales were $53.7 million versus net sales of $53.3 million a year ago.

David Sharp, President and Chief Executive Officer, commented, “The year is off to a solid start highlighted by improvements in gross margin and net income. Sales continue to be driven by Durango as the brand’s western and lifestyle collections collectively were up 40% in the first quarter. In addition, increased Military sales combined with the initial shipments of our new private label program helped to offset softness in our work and commercial military categories. We are cautiously optimistic that we can generate improved top-line performance as the year progresses, which along with enhanced gross margins should result in a meaningful increase in annual profitability.”

First Quarter Review

Net sales for the first quarter were $53.7 million compared to $53.3 million a year ago. Wholesale sales for the first quarter were $42.0 million compared to $42.4 million for the same period in 2012. Retail sales for the first quarter were $10.8 million compared to $10.5 million for the same period last year with the increase driven by a significant gain in our business-to-consumer ecommerce sales. Military sales for the first quarter were $0.9 million compared to $0.4 million in the first quarter of 2012.

Gross margin in the first quarter of 2013 was $18.7 million, or 34.8% of sales, compared to $18.0 million, or 33.8% of sales, for the same period last year. The 100 basis point increase was driven primarily by improved manufacturing efficiencies.

Selling, general and administrative (SG&A) expenses were $17.2 million, or 32.0% of net sales, for the first quarter of 2013 compared to $16.7 million, or 31.4% of net sales, a year ago. The increase in SG&A was due to higher freight expense primarily related to the increase in business-to-consumer ecommerce sales compared with a year ago.

Income from operations was $1.5 million, or 2.8% of net sales, compared to $1.3 million, or 2.4% of net sales.

The Company’s funded debt decreased 5.9% to $20.3 million at March 31, 2013 versus $21.5 million at March 31, 2012.

Inventory increased 6.5% to $68.3 million at March 31, 2013 compared with $64.1 million on the same date a year ago.

Rocky Brands, Inc


Must ReadView All

Textiles | On 26th Jul 2017

Vietnam’s textile & garment exports cross $13bn in H1

Vietnam earned $13.... billion from textile and garment exports in...

Courtesy: IVL

Textiles | On 26th Jul 2017

IVL completes PTA capacity expansion in Europe

Indorama Ventures Public Company Ltd (IVL), a global chemical...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X