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McRae Industries Q4 FY20: revenues $12 mn; net loss $1 mn
20 Oct 20 1 min read
McRae Industries, a US-based manufacturer of combat boots and western footwear, reported net revenues of $12.0 million in its fourth quarter (Q4) fiscal 2020 ended on August 1, compared to the sales of $22.2 million in the same period prior year. Net loss for the period was $1.1 million compared to net income of $0.8 million in Q4 FY19.
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Gross profit for the reported quarter was $2.1 million (Q4 FY19: $5.2 million). Selling, general and administrative expenses was $3.6 million ($4.4 million). Company incurred an operating loss of $1.5 million ($0.8 million).
Sales related to group’s western/lifestyle boot products were $7.1 million ($12.0 million) during Q4 FY20 primarily driven by a decline across all brands due to the effects of the coronavirus pandemic. While revenues from work boot products decreased from $10.2 million in Q4 FY19 to $4.9 million in the reported quarter. There was also decrease in John Deere boot sales as group exited that brand, offset by an increase in Dan Post brand.
Fibre2Fashion News Desk (JL)
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