Rocky Brands, Inc. reported a loss of $2.7 million in the second quarter ended June 30. Sales were down 38 percent, dropping 45.5 percent in the wholesale channel.
Second quarter net sales decreased 38.4 percent to $99.8 million compared with $162.0 million in the second quarter of 2022. Wholesale segment sales for the second quarter decreased 45.5 percent to $71.5 million compared to $131.2 million for the same period in 2022. Retail segment sales for the second quarter decreased 3.6 percent to $25.1 million compared to $26.0 million for the same period last year. Contract Manufacturing segment sales, which include contract military sales and private label programs, were $3.3 million in the second quarter of 2023 compared to $4.9 million in the prior year period. The decrease in Contract Manufacturing segment sales was due to the expiration of certain contracts with the U.S. Military. Adjusted net sales, excluding returns associated with a supplier-related dispute, decreased 37.4 percent to $101.4 million from the same period a year ago.
For full details on the Rocky Brands second quarter and turnaround going into fall, including executive commentary from the analyst conference call, go here:
EXEC: Rocky Brands Sees Brand Momentum Build After Tough Start to Q2
Photo courtesy Rocky Brands/Xtratuf
