Home / Knowledge / News / Fashion / Work business grows at LaCrosse
Work business grows at LaCrosse
27
Oct '09
LaCrosse Footwear, Inc., a leading provider of premium, branded work and outdoor footwear, reported results for the third quarter ended September 26, 2009.

For the third quarter of 2009, LaCrosse reported net sales of $40.8 million, up from $40.3 million in the third quarter of 2008. For the first three quarters of 2009, net sales were $96.6 million, up 4% from $92.8 million in the same period of 2008.

Net income was $2.2 million or $0.35 per diluted share in the third quarter of 2009, compared to $2.8 million or $0.43 per diluted share in the third quarter of 2008. For the first three quarters of 2009, net income was $3.2 million or $0.50 per diluted share, compared to $5.0 million or $0.78 per diluted share for the same period in 2008.

Sales to the work market were $22.1 million for the third quarter of 2009, up 14% from $19.5 million for the same period of 2008. The growth in work sales reflects continued penetration into various areas of the U.S. military. Sales to the outdoor market were $18.7 million for the third quarter of 2009, down from $20.8 million for the same period of 2008, reflecting continued softness in the overall global retail environment.

For the third quarter of 2009, gross margins were 38.6% of net sales, compared to 39.2% in the same period of 2008. The decrease in gross profit was primarily due to the impact of a greater portion of quarterly revenue coming from military delivery orders.

LaCrosse generally moderated its operating expense growth during the third quarter of 2009. Operating expenses were $11.8 million in the third quarter of 2009, up 5% or $0.6 million from the third quarter of 2008.

The Company continued to maintain a strong balance sheet with no debt. At the end of the third quarter of 2009, LaCrosse had cash and cash equivalents of $3.5 million. The $3.8 million year-over-year increase in inventory primarily reflects the growth in domestic production for the Company's expanded military business, as well as increased inventory for the planned build-up of certain core products for anticipated demand during the fall and winter seasons.

“We continued to grow our work business and took important steps to improve the long-term efficiency and strength of our business,” said Joseph P. Schneider, president and CEO of LaCrosse Footwear, Inc. “During the third quarter of 2009, we continued to win more business within various branches of the U.S. military, reflecting the proven durability and performance of our premium footwear in the demanding terrain of Afghanistan. While retail demand remained soft, we did see encouraging at-once demand in certain niche markets and product categories, including outdoor footwear that incorporates our new scent suppression technology.

“During the third quarter, we continued to execute our strategic initiatives and invest in our business. We completed the transition of our nationwide sales force into a dedicated in-house team, focused exclusively on the success of our brands. We have also strengthened our position with a number of major retailers and taken a strong inventory position on several core product lines in anticipation of fulfilling their growing at-once demand. We continue to leverage our talented team, powerful brands and strong balance sheet in order to grow our business and maintain operational excellence over the long term.”


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

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

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search