World Footwear

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Rocky Brands: revenue up by 134.2%

Aug 11, 2021 United States
Rocky Brands: revenue up by 134.2%
The Ohio-based company has announced second quarter results marked by an increase in net sales of 134.2% (to 131.6 million US dollars). Wholesale segment increased by 195.0% and retail by 36.8%
“Our business exhibited tremendous strength in the second quarter. Demand for our Rocky, Georgia and Durango brands has been building over the past year and recent trends have been particularly strong (...) I am confident that we are well positioned to continue capitalizing on our current momentum and successfully integrating our recent acquisition to unlock even greater earnings power from our operating model in the years ahead”, commented Jason Brooks, Chairman, President and Chief Executive Officer.

Second Quarter Review

Net sales increased by 134.2% to 131.6 million US dollars, in the period, compared with 56.2 million US dollars in the second quarter of 2020. Second quarter 2021 net sales include 50.1 million US dollars in net sales from the performance and lifestyle footwear business acquired from Honeywell International, Inc. on the 15th of March 2021.

Wholesale sales for the second quarter increased by 195.0% to 101.1 million US dollars compared to 34.3 million US dollars for the same period in 2020. Retail sales for the second quarter increased by 36.8% to 22.3 million US dollars compared to 16.3 million US dollars for the same period last year. Contract Manufacturing segment sales, which now include contract military sales and private label programs, increased by 45.6% to 8.1 million US dollars (compared to 5.6 million US dollars in the

The company reported second quarter net income of 3.9 million US dollars, or 0.52 US dollars per diluted share compared to net income of 2.4 million US dollars, or 0.33 US dollars per diluted share in the second quarter of 2020.

Image credits: fibre2fashion.com

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