LaCrosse Footwear, Inc. expects fourth-quarter sales to jump 21% to $42.5 million, driven by strong gains in its work and outdoor segments. For the full year, sales are expected to rise 9% to $139.2 million. The company, which also owns the Danner boot brand, updated its guidance due to upcoming investor conference.
Work footwear sales are expected to be up 25% to $25.2 million while outdoor footwear sales are expected to climb 16% to $17.3 million for the quarter.
At the end of 2009, LaCrosse had cash and cash equivalents of $17.7 million, up approximately 30% from the end of 2008, even after making investments of $2.6 million in its new Midwest distribution center and paying dividends of $3.2 million to its shareholders during 2009.
“We’re very pleased to see our strong sales growth in the fourth quarter of 2009 driven by increasing demand across work and outdoor markets,” said Joe Schneider, president and CEO of LaCrosse Footwear, Inc. “We saw stronger at-once demand from new and longstanding retail channels, reflecting the improving economic environment and the success of our new products during the quarter. We also continued to see strong demand from various branches of the U.S. military.”