30 June, 2021 - 01 July, 2021
05 July, 2021 - 08 July, 2021
06 July, 2021 - 08 July, 2021
10 July, 2021 - 12 July, 2021
14 July, 2021 - 16 July, 2021
Ho Chi Minh City, Vietnam
Changes in the operating structure of the company have led to a decrease in Q2 sales but better gross margins and higher earnings for the shareholders.
Rocky Brands has reported a second quarter net sales of US$68.6 million, slightly down from US$68.8 million in the same 2014 quarter. Net income increased to US$2.0 million compared with a net income of US$1.5 million in Q2 2014.
Retail sales rose 1.2% to US$10.2 million compared to US$10.1 million for the same period last year. Military segment sales in Q2 increased to US$4.5 million compared to US$2 million at this time last year.
The company has reported a gross margin of US$22.6 million, that is, 33% of sales, compared to US$22.6 million, or 32.8% of sales, for the same period last year. The 20 basis point increase was driven by higher wholesale and retail gross margins, partially offset by the increase in military segment sales which carry lower gross margins than wholesale and retail.
Income from operations for Q2 is US$3.3 million, or 4.7% of net sales, compared to US$2.5 million, or 3.7% of net sales in Q2 2014.
“The enhancements made to the operating structure fueled improved gross margins and lower expenses in the second quarter, allowing us to translate a slight decrease in sales into a 30% increase in earnings per share”, stated David Sharp, President and CEO of Rocky Brands Inc.
Rocky Brands, Inc., formerly known as Rocky Shoes & Boots, Inc., designs, develops, manufactures and markets outdoor, work, western and military footwear as well as outdoor, work apparel and accessories.