Retail drives sales gains at Rocky Brands in first quarter
Apr 24, 2019
American footwear and outdoor apparel company Rocky Brands, Inc. reported solid improvements in sales for the first quarter of 2019 on Tuesday, with progress seen across the group’s distribution channels, but especially in its retail business.
The Nelsonville, Ohio-based company, owner of the Rocky, Georgia Boot, Durango and Lehigh brands, announced net sales of $65.9 million for the first quarter ended March 31, 2019, up 7.4% compared to the $61.4 million reported by the group a year ago.
Rocky Brands’ retail sales led growth, increasing 18.2% to $15.4 million, compared to $13.1 million in the prior-year period. The company’s wholesale revenues also rose 4.8% to $42.4 million, up from $40.4 million, while military segment sales increased to $8.1 million from $7.9 million.
The group’s income from operations increased from $4.2 million to $4.5 million, with quarterly net income totaling $3.6 million, or $0.48 per diluted share, compared to $3.3 million, or $0.44 per share, in the equivalent period in the previous year.
“We are pleased to be off to a good start in 2019 with solid first quarter results that included an 18% increase in retail sales,” commented Rocky Brands President and CEO Jason Brooks in a release, going on to highlight the company’s current strategic focus on developing attention-grabbing products, building brand awareness, providing enhanced retailer support and driving efficiency by capitalizing on its production capabilities.
“Looking ahead, we are cautiously optimistic about our prospects for growth over the remainder of the year and believe we are well positioned for sustained success over the long-term,” Brooks concluded.
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