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Rocky Brands net sales increase 6.4% to $62 mn in Q2 2019

29
Jul '19
Pic: Rocky Brands
Pic: Rocky Brands
Second quarter net sales of Rocky Brands increased 6.4 per cent to $62 million ending June 30, 2019, compared to $58.2 million in second quarter of 2018. The company reported second quarter net income of $3.2 million, or $0.42 per diluted share in 2019, compared to net income of $2.6 million, or $0.35 per diluted share in the second quarter of 2018.

The retail sales of the company increased 20.2 per cent to $14.1 million in Q2 2019, said Rocky Brands in a press release.

Net sales for the first six months of 2019 increased 6.9 per cent to $127.9 million compared with $119.6 million for the first six months of 2018. The company reported net income of $6.8 million, or $0.91 per diluted share and net income of $5.9 million, or $0.79 per diluted share for the six months ended June 30, 2019 and 2018, respectively.

“We delivered another quarter of very solid results highlighted by year-over-year sales increases in all three of our segments and a nice improvement in overall profitability. Our top-line performance was driven by twenty-plus percent growth in our retail division as our Lehigh CustomFit model gained further traction with existing and new accounts. At the same time, the combination of compelling products, impactful marketing programmes and enhanced retailer support fuelled gains in our wholesale business including our work, western, outdoor and domestic commercial military categories. Equally important, we’ve bolstered our internal manufacturing capabilities which are driving improved efficiencies and increased margins while also providing the company with alternative sourcing options in the event of a tariff increase on footwear imports from China. I am confident that we are well positioned to capitalise on the growth prospects we believe exist across our business and continue generating increased value for our shareholders in the near and long-term,” said Jason Brooks, president and chief executive officer of Rocky Brands.

Rocky Brands is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognised brand names including Rocky, Georgia Boot, Durango, Lehigh, and the licensed brand Michelin. (PC)

Fibre2Fashion News Desk – India


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