Welcome to our dedicated page for Rocky Brands news (Ticker: RCKY), a resource for investors and traders seeking the latest updates and insights on Rocky Brands stock.
Rocky Brands, Inc. reports news on its footwear and apparel portfolio, including the Muck, XTRATUF, Rocky, Durango, Georgia Boot, Lehigh, Ranger and licensed Michelin brands. Company updates commonly address net sales, gross margin, inventory, debt and segment performance across wholesale, retail and contract manufacturing operations.
Recurring developments include direct-to-consumer demand through e-commerce and company-operated stores, wholesale channel activity with outdoor, work, marine and safety retailers, and contract manufacturing sales that include U.S. military and private-label production. News also covers brand partnerships, sourcing and tariff effects, quarterly dividends, share repurchase activity and investor conference participation.
Rocky Brands, Inc. (NASDAQ: RCKY) has entered into a definitive agreement to acquire Honeywell's performance and lifestyle footwear business, including The Original Muck Boot Company and XTRATUF brands, for $230 million. The acquisition is expected to enhance Rocky's portfolio and increase sales and profitability. The target business generated approximately $205 million in net revenue in 2020. The purchase will be financed through a combination of secured loans and cash. The acquisition is subject to regulatory approval and is anticipated to close in Q1 2021.
Rocky Brands, Inc. (NASDAQ: RCKY) announced its upcoming presentation at the 2021 ICR Conference on January 12, 2021, at 9:30 a.m. Eastern Time. The presentation will be available for live streaming online at https://investors.rockybrands.com. Rocky Brands is recognized for its premium footwear and apparel, boasting brands such as Rocky®, Georgia Boot®, Durango®, Lehigh®, and the Michelin® licensed brand.
Rocky Brands reported strong financial results for Q3 2020, with net sales increasing by 15.8% to $77.8 million compared to Q3 2019. Net income rose to $7.6 million, or $1.04 per diluted share. However, year-to-date sales decreased to $189.7 million from $195.1 million in 2019. Adjusted net income for the first nine months increased to $12.8 million or $1.74 per share, reflecting resilience despite COVID-19 challenges. The company maintained a strong balance sheet with zero debt and a cash increase of 209.7% to $19.9 million.
Rocky Brands, Inc. (NASDAQ: RCKY) announced plans to release its third-quarter financial results for the period ending September 30, 2020, on October 27, 2020, after market close. A conference call will follow at 4:30 p.m. ET on the same day for management to discuss the results. Investors can join the call by dialing (877) 705-6003 domestically or (201) 493-6725 internationally. A live webcast will be available on the company’s website. A replay of the call can be accessed until November 10, 2020, using the identification number 13712249.