Rocky Brands, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 02, 2023 at 04:05 pm EDT
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Rocky Brands, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was USD 110.45 million compared to USD 167.03 million a year ago. Net loss was USD 0.398 million compared to net income of USD 7.34 million a year ago.
Basic loss per share from continuing operations was USD 0.05 compared to basic earnings per share from continuing operations of USD 1 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to diluted earnings per share from continuing operations of USD 0.99 a year ago.
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.