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Rocky Brands net sales grow 12.1% in Q4 FY19

27
Feb '20
Pic: Rocky Brands
Pic: Rocky Brands
Rocky Brands, a designer and manufacturer of premium quality footwear and apparel, posted 12.1 per cent increase in net sales to $75.3 million in fourth quarter (Q4) FY19 that ended on December 31, 2019. Net sales for complete FY19 grew 7 per cent to $270.4 million compared to $252.7 million in FY18. Net income in Q4 increased 41 per cent to $5.1 million.
 
Net income increased 20 per cent to $17.5 million compared to $14.6 million in prior year. 
 
Wholesale sales increased 7.3 per cent to $49.3 million in Q4 FY19 compared to $45.9 million for the same period in 2018. Retail sales for the quarter increased 26 per cent to $20.8 million compared to $16.5 million for the same period last year. Military segment sales in Q4 increased 10.4 per cent to $5.3 million compared to $4.8 million in same period prior year.
 
Gross margin in Q4 FY19 increased 17.1 per cent to $28.3 million, or 37.5 per cent of sales, compared to $24.1 million or 35.9 per cent of sales, for the same period last year.
 
Operating expenses were $21.6 million, or 28.7 per cent of net sales in Q4 FY19 compared to $19.3 million, or 28.7 per cent of net sales, a year ago.
 
Income from operations in Q4 FY19 increased 37.2 per cent to $6.7 million or 8.8 per cent of net sales compared to $4.9 million for the same period a year ago or 7.2 per cent of net sales.
 
For full FY19, wholesale sales increased 3.7 per cent to $179.5 million compared to $173.1 million for FY18. Retail sales in FY19 increased 21.8 per cent to $64.8 million compared to $53.2 million for the same period last year. Military segment sales declined 1.1 per cent to $26.1 million compared to $26.4 million in FY18.
 
Gross margin for 2019 increased 12.2 per cent to $97.7 million or 36.1 per cent of sales compared to $87.0 million or 34.4 per cent of sales, for the same period last year. 
 
Operating expenses were $75.6 million, or 28.0 per cent of net sales, for full FY19 compared to $69.0 million, or 27.3 per cent of net sales, a year ago.
 
Income from operations in FY19 increased to $22.1 million or 8.2 per cent of net sales compared to $18.1 million for the same period a year ago or 7.1 per cent of net sales.

Fibre2Fashion News Desk (JL)


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