Home / Knowledge / News / Textiles / Cold weather & hunting products of LaCrosse in demand

Cold weather & hunting products of LaCrosse in demand

Apr '10
LaCrosse Footwear, Inc., a leading provider of premium, branded footwear for work and outdoor users, reported results for the first quarter ended March 27, 2010.

For the first quarter of 2010, LaCrosse reported net sales of $34.2 million, up 32% from $25.9 million in the first quarter of 2009. Sales to the work market were $26.3 million for the first quarter of 2010, up 38% from $19.0 million for the same period of 2009. The growth in the work market sales reflects very strong demand from various areas of the U.S. government, as well as increasing demand from various niche work markets. Sales to the outdoor market were $7.9 million for the first quarter of 2010, up 15% from $6.9 million for the same period in 2009, reflecting an improved retail environment and increasing demand for the LaCrosse brand's cold weather and hunting products.

The strong growth in sales and margins resulted in significant earnings growth. Net income was $1.7 million or $0.25 per diluted share in the first quarter of 2010, up from a net loss of $0.7 million or ($0.11) per diluted share in the first quarter of 2009.

Gross margin for the first quarter of 2010 was 40.2% of net sales, compared to 37.9% in the same period of 2009, primarily reflecting improved manufacturing efficiencies in the Company's domestic manufacturing facility. LaCrosse's operating expenses were $11.0 million in the first quarter 2010, up 2% from the first quarter 2009. The modest year-over-year increase reflects the Company's reallocation of operating expenditures in order to expand its domestic sales, marketing and product development efforts, as well as increased incentive compensation expense recognized due to higher quarterly profits.

The Company continued to strengthen its balance sheet. At the end of the first quarter 2010, LaCrosse had record cash and cash equivalents of $19.7 million, up from $12.1 million at the end of the first quarter 2009, after paying dividends of $9.6 million to its shareholders since the first quarter of 2009. The Company reduced its inventory by $6.1 million or 22% from the first quarter of 2009, reflecting stronger than anticipated overall demand in the first quarter and an inventory reduction in preparation for significant new core products for Fall 2010.

“We're very pleased with our strong sales and earnings growth in the first quarter of 2010, driven by increased demand across our different channels and markets,” said Joseph P. Schneider, president and CEO of LaCrosse Footwear, Inc. “We saw very strong demand from various branches of the U.S. government due to the continued strengthening of our customer relationships throughout the government channel and our strong execution in exceeding their delivery timetables. We also saw much stronger at-once demand from our wholesale channel partners during the first quarter, reflecting the improved consumer spending environment and success of our core products.

“During 2010, we continue to expect quarter-to-quarter fluctuations in the timing of government channel orders. Yet the general trends across our different channels look significantly more positive than a year ago and our new products are being very well received by our customers. In preparation for future growth, we recently announced our plans for a new production facility in Portland that will significantly increase our capacity to efficiently meet growing worldwide demand and extend our great tradition of superior craftsmanship.”

Must ReadView All

Pic: Shutterstock

Textiles | On 28th Mar 2020

Worldwide lockdowns, stimulus shots, raised PPE production

The global response this week to the unfolding COVID-19 crisis saw...

Pic: Shutterstock

Apparel/Garments | On 28th Mar 2020

Vietnam may outdo Bangladesh as 2nd largest RMG exporter

Though Bangladesh is now the second-largest garment exporter...

Pic: Shutterstock

Textiles | On 28th Mar 2020

Morgan Stanley rules out economic depression

With COVID-19 badly damaging the global economy, Morgan Stanley...

Interviews View All

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Textile industry, Head honchos

Textile industry
Head honchos

Clothes are no more bound by gender

Headhonchos, Indian fashion industry

Indian fashion industry

Organic the first choice of any environment-conscious person

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Vasudevan LK,

Vasudevan LK

Epson is a world leader in digital imaging and printing solutions....

Cem Erdogrul,

Cem Erdogrul

Turkey-based Temsan Air Engineering is one of the leading manufacturers of ...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Daniel Odermatt, Ventile

Daniel Odermatt

Ventile is a registered trademark used to brand a special high-quality...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

March 2020

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

Advanced Search