US footwear manufacturer McRae Industries' Q3 FY21 sales up to $22 mn

25 Jun '21

1 min read

Pic: McRae Industries/ Laredo

McRae Industries, a US-based manufacturer of combat boots and western footwear, has reported revenues growth to $21.6 million in its third quarter (Q3) of FY21 ended on May 1, 2021, compared to the sales of $14.3 million in the corresponding period of previous fiscal. The company’s net earnings for Q3 FY21 was $1.2 million (Q3 FY20: loss $0.5 million).

Gross profit for the reported period was $5.9 million ($2.7 million), while selling, general and administrative expenses were $4.4 million ($3.4 million). The company’s operating profit rose to $1.5 million ($0.7 million).

According to the company, its western/lifestyle boot products sales increased to $14.6 million ($6.5 million) due to increased sales in McRae’s popular priced western boot sales and premium western boot sales. However, work boot products sales fell 7 per cent during Q3 FY21 to $7.6 million ($7.0 million) due to decreased military boot sales offset by rise in Dan Post work boot sales.

Fibre2Fashion News Desk (JL)

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