All Rocky Brands articles
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ArticleRocky Brands' Q1 sales lifted by Durango and Xtratuf
Bolstered by double-digit sales increases for its Durango and Xtratuf footwear brands, Rocky Brands reported a 2.2 percent jump in first-quarter revenues to $112.9 million from $110.4 million. Excluding Servus, a brand divested in March, sales rose by 7.6 percent year-over-year. First-quarter wholesale sales were $79.8 million compared to $80.1 ...
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ArticleRocky Brands’ Q4 sales fall 9.3% amid unexpected headwinds
Rocky Brands reported sales of $126.0 million in the fourth quarter of 2023, down by 9.3 percent compared to the year earlier but still an improvement on the previous quarter and the slowest rate of sales decline for the year. Sales were down by 6 percent when service brand sales, ...
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ArticleThe stocks of footwear companies inched up in Q4
The prices of stocks monitored by Shoe Intelligence grew by 4 percent on average in the fourth quarter of 2023, compared with the previous three months, but trading remained volatile, with significant fluctuations among the companies of the cohort. The quarter was marked by the initial public offering (IPO) of ...
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ArticleRocky Brands margins, profits rise in Q3 despite 15% sales decline
Rocky Brands posted higher profits and margins in the third quarter of 2023, benefiting from lower freight costs, improved distribution center efficiencies and an increased share of higher-margin retail sales. Profitability gains came despite a decline in the top line, which decreased by 14.8 percent to $125.6 million in the ...
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News briefs
Rocky Brands’ CFO leaves after a six months in the job
On Sept. 12, Rocky Brands said that its senior vice president, chief financial officer and treasurer, Sarah O’Connor, has resigned from her position, effective immediately. O’Connor had joined the company in mid-March to replace Tom Robertson, who had been promoted to the newly created role of chief operating officer. The ...
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News briefs
Designer Brands president William Jordan to leave
Designer Brands announced that William (Bill) Jordan, the president of the company and president of Camuto LLC, will step down from his positions on a date that is expected to be on or before Dec. 1, 2023. The announcement was made in 8-K filing with the U.S. Securities and Exchange ...
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News briefs
Rocky Brands sees business positioned for H2 improvement
Despite experiencing strong sell-throughs at several major U.S. wholesale accounts, the U.S. footwear company Rocky Brands reported a 38 percent decline in second-quarter sales to $99.8 million from $162.0 million a year earlier. Revenues in the wholesale segment declined by 45.5 percent to $71.5 million and fell by 3.6 percent ...
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ArticleThe stocks of footwear companies slip led by British firms
The prices of stocks monitored by Shoe Intelligence fell by 7 percent in the second quarter of 2023 compared with the previous three months, when the cohort gained about 5 percent. Shares were driven lower by British constituents of the panel. Some companies were hit by worrisome financial situations, but ...
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ArticleRocky Brands suffers a sharp fall in Q1 sales due to excessive stocks at clients
In the first quarter of 2023, Rocky Brands suffered a 33.9 percent decline in sales to $110.4 million, driven by a 40.2 percent drop in wholesale sales to $80.1 million due to excess inventories at clients. Meanwhile, the company’s own retail sales increased by 3.1 percent to $29.5 million. Contract ...
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ArticleRocky Brands sells the Servus brand to PetroQuim unit
Rocky Brands has sold the Servus brand to PQ Footwear, a subsidiary of Industrias PetroQuim, a producer of footwear and plastic components based in the Dominican Republic. The transaction closed on March 30, 2023. The proceeds from the transaction were used to pay down debt, Rocky Brands said without disclosing ...
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ArticleRocky Brands sees 2023 sales down 7-9% after 18% dip in Q4
Rocky Brands said it expects sales to decline by about 7-9 percent in 2023 to $560-570 million from the $615.5 million seen in 2022 as it pointed to continued economic uncertainty after posting an 18.0 percent decline in revenues in the fourth quarter of 2022. “With the outlook for the ...
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ArticleStocks of U.S. footwear companies rebound in Q4
Trading remained very volatile in the fourth quarter of 2022 with the various clusters of our universe of stocks often fluctuating significantly compared with the previous three months. Overall, Shoe Intelligence’s selection of stocks continues to trend water, rising by just over 2 percent on average. Shares of Brazilian footwear ...
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News briefs
Rocky Brands names a new director, downsizes its board
Rocky Brands has appointed Dwight E. Smith as a Class I director of the company, effective as of Jan. 1, 2023. Smith has served as the president and CEO of Sophisticated Systems since July 1990. He has also served as a member of the board of The Federal Reserve Bank ...
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ArticleNevada attracts footwear distribution centers
Over the past year, several distribution center projects have been announced in Nevada by companies working in the footwear industry, according to Footwear Distributors and Retailers of America (FDRA). The announcements include a 730,000 square foot site by Crocs, a 450,000 square foot facility by Footlocker, a 788,000 square foot ...
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ArticleRocky Brands lowers FY revenue outlook
Despite reporting steady or strong sales from its portfolio of footwear brands during the third quarter, Rocky Brands has lowered its full-year revenue outlook due to a difficult, year-over-year sales comparison in the fourth quarter. Through nine months, the parent of the Durango and Georgia brands, among others, had a ...
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News briefs
Rocky Brands has a CCO
U.S. footwear company Rocky Brands announced that its chief financial officer, Tom Robertson, has been promoted to the newly created position of chief operating officer, responsible for overseeing business operations. Robertson joined Rocky Brands in 2016 as a senior financial analyst and was named CFO six months later. The search ...
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ArticleRocky Brands to hike prices in September to improve margins
Despite having increased prices at the beginning of 2022, Rocky Brands suffered a significant decline in second-quarter gross margin due to higher product and inbound freight costs coupled with higher logistics expenses. The company now plans another round of price increases in September. ”We raised our prices at the start ...
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News briefs
Rocky Brands to cut non-manufacturing headcount
Rocky Brands will close the Boston office it obtained with the acquisition of Honeywell International’s lifestyle footwear business as well as cut the non-manufacturing headcount related to the acquired brands by approximately 13 percent. The actions are expected to result in $3.0-$4.0 million in annualized savings for the company that ...
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ArticleRocky Brands posts strong Q1 sales, profits
Net income rose 61 percent to $7.34 million from $4.49 million for the period ended March 31, as total sales soared 90.5 percent to $167.03 million from $87.67 million. But the parent of the Durango and Xtratuf brands, among others, admittedly has work to be done cutting expenses and inventories ...
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ArticleRocky Brands targets savings as Q4 net sales soar
U.S. footwear company Rocky Brands said it is targeting cost savings and synergies after integrating Honeywell International’s performance and lifestyle footwear business last year as it reported a 93.4 percent surge in fourth-quarter net sales. The company, which called the $230m acquisition “transformational”, said sales for the three months to ...
