Rocky Brands, Inc. Announces Revenue Guidance for 2020
February 25, 2020 at 04:30 pm EST
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Rocky Brands, Inc. announced that for 2020, it anticipates revenue increasing in the low single-digit range over 2019 levels led by its retail division, followed by wholesale. Following the industry challenges, its military segment faced this past year, combined with the expiration of a multi-year contract midway through last year, the company expects military sales to be down approximately $4 million. This guidance assumes company's sales are impacted due to some inventory constraints beginning at the end of the first quarter as a result of delays at its Chinese manufacturing partners from the coronavirus outbreak. Without this impact, the company anticipates revenue to grow in the mid-single-digit range.
Rocky Brands, Inc. is a designer, manufacturer and marketer of footwear and apparel. It markets its products under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, The Original Muck Boot Company, XTRATUF, Ranger and the licensed brand Michelin. It operates through three segments: Wholesale, Retail and Contract Manufacturing. Its Wholesale segment distributes products through a range of distribution channels representing over 10,000 retail store locations in the United States, Canada, United Kingdom, and others. Retail segment markets directly to consumers through its Lehigh business-to-business, including direct sales and through its CustomFit Websites, consumer e-commerce Websites, third-party marketplaces, and Rocky outlet stores. Its Contract Manufacturing segment includes sales to the United States Military, private label sales and any sales to customers in which it is contracted to manufacture or source a specific footwear product for a customer.
ROCKY BRANDS, INC. 