Latest news with #RockyBrands
Fibre2Fashion
01-05-2025
- Business
- Fibre2Fashion
US' Rocky Brands to hike prices in Q2, cut China sourcing amid tariffs
American footwear manufacturer and designer of shoes Rocky Brands has announced that it is taking swift action to counter the impact of newly imposed US tariffs, with plans to raise prices on most footwear styles in the second quarter. CEO Jason Brooks said the company is accelerating efforts to reduce reliance on Chinese sourcing while leveraging its owned manufacturing in the Dominican Republic and Puerto Rico to maintain profitability and meet 2025 financial targets. Jason Brooks, chairman, president and chief executive officer (CEO) , said, 'We have been working quickly to mitigate the impact of higher tariffs recently imposed by the US and believe we have a sound plan in place to protect profitability. Later in the second quarter, we expect to implement price increases on most of our footwear styles. At the same time, we are moving faster to reduce the amount of product that we source from China. While we expect that higher price points will put some pressure on consumer demand, we believe the strength and desirability of our brands and products along with our diversified sourcing structure that includes our own manufacturing facilities in the Dominican Republic and Puerto Rico will allow us to achieve our financial targets for the year.' Rocky Brands plans to raise footwear prices in Q2 to offset new US tariffs and is accelerating its shift from Chinese sourcing to facilities in Dominican Republic and Puerto Rico. Q1 net sales rose 1.1 per cent YoY to $114.1 million, with retail sales up 20.4 per cent. Net income more than doubled to $4.9 million. Gross margin rose to 41.2 per cent, driven by stronger wholesale and retail performance. The company has recorded net sales of $114.1 million in the first quarter (Q1) of 2025, ended March 31, an increase of 1.1 per cent year-over-year (YoY). The gross margin increased by 210 basis points (bps) to 41.2 per cent of net sales compared to 39.1 per cent of net sales in Q1 2024. The increase in gross margin as a percentage of net sales was attributable to increased wholesale margins as well as increased retail sales. The wholesale sales in Q1 decreased by 6.3 per cent YoY to $74.8 million and retail sales increased 20.4 per cent to $36.6 million. Contract manufacturing sales remained flat at $2.7 million in Q1 of 2025. Operating expenses were $38.3 million, or 33.6 per cent of net sales, in Q1 2025. As a percentage of net sales, adjusted operating expenses were 33.0 per cent in Q1 2025. The increase in operating expenses was driven primarily by higher selling and logistics costs associated with the increase in the direct-to-consumer (DTC) business compared with the year ago period, Rocky Brand said in a press release. The income from operations in Q1 2025 was $8.7 million, or 7.6 per cent of net sales, compared to $8.0 million, or 7.1 per cent of net sales, for the same period a year ago. The company reported net income of $4.9 million, or $0.66 per diluted share compared to $2.6 million, or $0.34 per diluted share in Q1 2024. Adjusted net income for Q1 2025 was $5.5 million, or $0.73 per diluted share, compared to $3.1 million, or $0.41 per diluted share in the year ago period. The inventories increased by 6.3 per cent YoY and total debt as of March 31, 2025, was down 17.5 per cent YoY. 'We experienced healthy demand across our brand portfolio and throughout our distribution channels to start the new year. Our first quarter performance was highlighted by 20 per cent top-line growth in our retail segment fuelled by strong gains in both direct-to-consumer sales and our Lehigh safety shoe business,' added Brooks. Fibre2Fashion News Desk (SG)
Business Wire
22-04-2025
- Business
- Business Wire
Rocky Brands, Inc. to Report First Quarter 2025 Results on April 29, 2025
NELSONVILLE, Ohio--(BUSINESS WIRE)--Rocky Brands, Inc. (NASDAQ: RCKY) today announced that the company will release its financial results for the first quarter ended March 31, 2025, after the market close on Tuesday, April 29, 2025. Management will host a conference call that afternoon (April 29, 2025) at 4:30 p.m. ET to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial (877) 704-4453 (domestic) or (201) 389-0920 (international). The conference call will also be available to interested parties through a live webcast at Please visit the website and select the 'Investor Relations' link at least 15 minutes prior to the start of the call to register and download any necessary software. A telephone replay of the call will be available until May 13, 2025, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 13753393. About Rocky Brands, Inc. Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names. Brands in the portfolio include Rocky®, Georgia Boot®, Durango®, Lehigh®, The Original Muck Boot Company®, XTRATUF® and Ranger®. More information can be found at
Yahoo
28-02-2025
- Business
- Yahoo
Rocky Brands sees slight sales dip in 2024 as net income rises
Rocky Brands' dip in sales for full year 2024 is largely attributed to certain non-recurring sales which the company does not anticipate repeating moving forward. The 2023 non-recurring sales included a spike in military footwear sales to a single customer, sales of Servus-branded products before its March 2023 divestiture, sales from the switch to a distributor model in Canada in November 2023, and contract manufacturing sales of Servus products post-divestiture. Setting aside these one-off sales, Rocky Brands experienced a 5.3% increase in net sales on a year-over-year basis. Rocky Brands saw its gross margin climb by 70 basis points to reach 39.4% of net sales in FY24, up from 38.7% in the preceding year. The company's operational income for 2024 stood at $31.1m, 6.9% of net sales as opposed to $35.4m or 7.7% of net sales in FY23. During the year ended 31 December 2024, net income of Rocky Brands rose to $11.4m, translating to $1.52 per diluted share, an improvement from $10.4m or $1.41 per diluted share in the prior year. When adjusted for certain factors, net income was reported at $19.0m or $2.54 per diluted share, compared to $14.3m or $1.93 per diluted share during the same period last year. Total debt decreased by 25.7% to $128.7m on a year-over-year basis. Rocky Brands chairman, president and chief executive officer Jason Brooks said: 'Our sales trends accelerated as the holiday season progressed led by strong consumer demand for our Durango and XTRATUF brands, with particular strength in our direct to consumer channel which fuelled our highest ever sales quarter for our retail reporting segment. 'We are pleased with our finish to the year, which included recurring wholesale sales returning to growth and retail sales increasing over 15% for the fourth quarter. Increased marketing helped fuel our top-line performance as we brought spending back in-line with historical levels after under investing in demand creation in the year ago period.' Focusing on Q4 of FY24 alone, net sales saw an uptick of 1.7%, reaching $128.1m compared with $126.0m in Q4 of FY23. The figure jumps to an 8.8% increase after adjusting for specific non-recurring sales related to Canadian distribution changes and elevated commercial military footwear sales. The fourth quarter gross margin improved as well, registering at $53.2m up from the previous year's $50.7m. Net income for Q4 2024 was reported at $4.8m or $0.64 per diluted share, including trademark impairment charges; this is down from Q4 2023's figure of $6.7m or $0.91 per diluted share. Brooks added: 'Our fourth quarter momentum has carried into early 2025, providing us with a good start to the year. While the macroeconomic environment remains uncertain, we are cautiously optimistic about our near-term prospects and confident that the substantial reduction in our debt provides us with the financial flexibility to invest in growth and deliver enhanced earnings and greater value for our shareholders.' "Rocky Brands sees slight sales dip in 2024 as net income rises " was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
