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 announced the sale of its Servus brand to PQ Footwear, LLC, a subsidiary of Industrias PetroQuim, SA. This transaction closed on March 30, 2023, with the proceeds utilized to reduce debt. Rocky Brands had acquired Servus in March 2021 from Honeywell, focusing on safety-certified PVC and neoprene footwear. The terms of the sale were not disclosed. Rocky Brands is known for its premium quality footwear and apparel, featuring brands such as Rocky®, Georgia Boot®, and Durango®.
Rocky Brands, Inc. (NASDAQ: RCKY) reported its fourth quarter and year-end financial results for 2022. Q4 net sales decreased by 18.0% to $138.9 million, driven by a 26.6% drop in wholesale sales, while retail sales surged 40.8%. Operating income fell 25.2% to $13.6 million, and net income plummeted 48.1% to $6.5 million, or $0.89 per share. For the full year, net sales rose 19.7% to $615.5 million, with wholesale and retail sales climbing by 24.0% and 21.9%, respectively. However, adjusted net income decreased 26.0% to $24.1 million, or $3.27 per share. The company is cautious about near-term trends amidst macroeconomic uncertainty but remains optimistic about future growth.
Rocky Brands, Inc. (NASDAQ: RCKY) will announce its fourth quarter and full year 2022 financial results after the market closes on February 23, 2023. A conference call is scheduled for the same day at 4:30 p.m. ET, where management will discuss these results. Investors can join the call by calling (877) 704-4453 (domestic) or (201) 389-0920 (international), and it will also be streamed live on www.rockybrands.com. A replay will be available until March 9, 2023, by dialing (844) 512-2921 (domestic).
Rocky Brands, Inc. (NASDAQ: RCKY) has declared a quarterly cash dividend of $0.155 per share, payable on March 15, 2023, to shareholders of record as of March 1, 2023. This decision reflects the company's commitment to returning value to its investors. Future dividends will be determined quarterly by the board of directors. Rocky Brands is known for its premium quality footwear and apparel, operating well-recognized brands including Rocky®, Georgia Boot®, and The Original Muck Boot Company®.
Rocky Brands, Inc. (NASDAQ: RCKY) announced the appointment of Sarah O’Connor as the new Senior Vice President, Chief Financial Officer, and Treasurer. With over 15 years of finance experience, O’Connor has a background in public retail and manufacturing organizations. Before joining Rocky Brands, she was Vice President of Financial Planning & Analysis at MedVet and held roles at Columbia Pipeline Group and L Brands. O’Connor will officially start in mid-March, succeeding Tom Robertson, who will become Chief Operating Officer. The leadership change aims to position Rocky Brands for future growth.
Rocky Brands, Inc. (NASDAQ: RCKY) announced participation in the 2023 ICR Conference with a scheduled presentation on January 10, 2023, at 10:30 a.m. Eastern Time. This event will be available for online viewing via their investor relations website. Rocky Brands is renowned for its premium quality footwear and apparel, featuring brands like Rocky®, Georgia Boot®, and The Original Muck Boot Company®. Further information can be accessed on their official website.
Rocky Brands, Inc. (NASDAQ: RCKY) appointed Dwight E. Smith as a Class I director, effective January 1, 2023. Mr. Smith brings extensive experience as the founder and CEO of Sophisticated Systems, Inc. and has served on several boards, including the Federal Reserve Bank of Cleveland. Concurrently, Glenn E. Corlett and James L. Stewart will retire from the board effective December 31, 2022, reducing the board size from eleven to ten members. The company acknowledges their contributions over 48 years of combined service. Smith's addition aims to enhance board leadership.
Rocky Brands, Inc. (NASDAQ: RCKY) has declared a quarterly cash dividend of $0.155 per share, to be paid on December 15, 2022, to shareholders of record by December 1, 2022. The future declaration and payment of dividends will depend on the quarterly assessments by the board of directors. This reflects the company's continued commitment to returning value to its shareholders. Rocky Brands is a well-known designer and manufacturer of quality footwear and apparel, with prominent brands like Rocky® and Georgia Boot®.
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 September 30, 2022 on November 2, 2022, after market close. Following the release, management will hold a conference call at 4:30 p.m. ET to discuss the results. Interested participants can join by dialing (888) 254-3590 (domestic) or (323) 994-2093 (international), or via a live webcast on www.rockybrands.com. A replay of the call will be accessible until November 16, 2022.