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 (RCKY), a global leader in premium footwear and apparel, maintains this dedicated news hub for investors and industry stakeholders. Access official press releases and curated updates covering corporate milestones, product innovations, and market developments.
This resource provides timely updates on earnings announcements, strategic partnerships, leadership changes, and operational expansions. Investors gain insights into RCKY's performance across wholesale, retail, and contract segments while tracking initiatives that reinforce its market leadership in durable lifestyle products.
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Bookmark this page for efficient tracking of RCKY's evolving position in the competitive apparel sector. Regular updates reflect the company's commitment to innovation through new collections, sustainability efforts, and global distribution enhancements.
Rocky Brands reported strong third quarter 2022 financial results, with net sales increasing by 17.5% to $147.5 million. Adjusted net sales rose 14.7% to $143.9 million. The wholesale segment saw a 25.8% increase, while the retail segment increased 7.3%. Net income improved to $5.7 million, or $0.77 per diluted share. Despite a drop in gross margin percentage due to cost pressures, operating expenses decreased significantly. The company maintained confidence in its growth strategies amid macroeconomic challenges.
Rocky Brands, Inc. (NASDAQ: RCKY) will announce its third-quarter financial results for the period ending
Rocky Brands, Inc. (NASDAQ: RCKY) has promoted Tom Robertson to Chief Operating Officer, a newly created position aimed at enhancing operational efficiency. Previously CFO, Robertson will oversee daily operations while a search for a new CFO begins immediately. The announcement comes as David Dixon, President of Manufacturing/Sourcing Operations, steps down after 29 years. Chairman Jason Brooks praised Robertson's contributions and expressed confidence in his ability to drive profitable growth.
SureWerx has announced the acquisition of NEOS Overshoe from Rocky Brands (NASDAQ: RCKY), enhancing its portfolio in the safety footwear market. This acquisition aligns with SureWerx's strategy to expand its offerings and strengthen its position in the industrial and professional overshoe market. NEOS, known for its premium overshoes, has evolved over the years and now serves various industries, ensuring protection against harsh conditions. The deal reflects SureWerx's aggressive growth strategy in safety products, adding to its existing brands.
Rocky Brands, Inc. (NASDAQ: RCKY) has announced the sale of its NEOS Overshoe division to SureWerx, a global manufacturer of safety products. The specific terms of the sale were not disclosed. Rocky Brands acquired NEOS in March 2021, aiming to enhance its portfolio in performance footwear. NEOS has been a key player in designing overshoes for consumer and worker protection since 1993. This strategic move aligns with Rocky Brands' focus on optimizing its core offerings while collaborating with SureWerx to expand the NEOS brand's reach.
Rocky Brands, Inc. (NASDAQ: RCKY) has declared a quarterly cash dividend of $0.155 per share, payable on September 15, 2022, to shareholders on record by September 1, 2022. The board of directors will determine future dividends and payment schedules. Rocky Brands is known for a portfolio of premium footwear and apparel brands, including Rocky®, Georgia Boot®, and Durango®. Forward-looking statements in the release indicate potential business risks, with no assurance of meeting projections.
Rocky Brands reported a 23.1% increase in net sales for Q2 2022, totaling $162.0 million, driven by robust wholesale sales that rose 29.7% to $131.2 million. Retail sales also improved by 16.4%. Despite these gains, operating income dropped to $5.6 million, with net income decreasing to $0.9 million or $0.12 per diluted share, impacted by rising supply chain costs. The company aims for sustained growth by implementing price increases and improving supply chain efficiencies.
Rocky Brands, Inc. (NASDAQ: RCKY) will release its financial results for Q2 2022, ending June 30, on August 2, 2022, after market close. Management will host a conference call at 4:30 p.m. ET to discuss the results. Investors can participate by calling (877) 704-4453 domestically or (201) 389-0920 internationally, or join via a live webcast at www.rockybrands.com. A replay will be available until August 16, 2022. Rocky Brands designs and markets premium footwear and apparel under various well-known brands.
Rocky Brands, Inc. (NASDAQ: RCKY) has completed a cost savings review to enhance profitability following its acquisition of Honeywell's lifestyle footwear business in March 2021. The company will close its Boston office and reduce non-manufacturing staff by about 13%, expecting annual savings of $3.0 to $4.0 million. A one-time severance charge of approximately $1.0 million will be recorded in Q2 2022. CEO Jason Brooks emphasized the acquisition's success, aiming to convert sales growth into improved margins.
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