World Footwear

Companies

Rocky Brands with record first quarter results

May 24, 2021 United States
Rocky Brands with record first quarter results
Net sales of the company increased by 57.3% to 87.7 million US dollars. The wholesale segment sales increased by 69.1% and the retail segment sales increased by 42.0%. Net income increased by 278.1% to 4.5 million US dollars
“It has been an excellent start to the year for Rocky Brands as we delivered a strong first quarter performance and completed a highly transformative acquisition. We experienced robust demand for our Rocky, Georgia and Durango brands across our wholesale and direct to consumer channels, which when combined with an easier comparison due to the impact on our business from COVID-19 in the year ago period, resulted in a dramatic improvement in revenue and earnings per share. The multi-year initiatives we’ve been executing in product innovation, fulfilment, consumer engagement and inventory management enhanced our ability to capture market share during the pandemic while creating a strong foundation to support long-term growth”, commented Jason Brooks, President and Chief Executive Officer.


First Quarter Review

First quarter net sales increased by 57.3% to 87.7 million US dollars compared with 55.7 million US dollars in the first quarter of 2020. First quarter 2021 net sales include 6.5 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 first quarter increased by 69.1% to 59.2 million US dollars compared to 35.0 million US dollars for the same period in 2020. Retail sales for the first quarter increased by 42.0% to 24.0 million US dollars compared to 16.9 million US dollars for the same period last year. Military segment sales for the first quarter totalled 4.4 million US dollars compared to 3.8 million US dollars in the first quarter of 2020.

Rocky Brands reported first quarter net income of 4.5 million US dollars, or 0.61 US dollars per diluted share compared to net income of 1.2 million US dollars, or 0.16 US dollars per diluted share in the first quarter of 2020. Adjusted net income for the first quarter of 2021, was 8.7 million US dollars, or 1.19 US dollars per diluted share, compared to an adjusted net income of 2.0 million US dollars, or 0.27 US dollars per diluted share, in the first quarter of 2020.


Related Events

  • Sep
    27
    Sep 27-Sep 27, 2023 | Boston, United States

    Global Fashion Summit Boston Edition

  • Oct
    24
    Oct 24-Oct 27, 2023 | Dallas, United States

    Dallas Apparel & Accessories Market

  • Nov
    5
    Nov 5-Nov 6, 2023 | Michigan, United States

    Metro-Michigan Women's Wear Market

  • Nov
    14
    Nov 14-Nov 16, 2023 | Utah, United States

    Outdoor Retailer Snow Show

Related Organizations

  • Brooklyn Shoe Space

    Brooklyn Shoe Space

    United States
  • FIT - Fashion Institute of Technology

    FIT - Fashion Institute of Technology

    United States
  • ALCA - American Leather Chemists Association

    ALCA - American Leather Chemists Association

    United States
  • FFANY - Fashion Footwear Association of New York

    FFANY - Fashion Footwear Association of New York

    United States