LaCrosse Footwear makes Q1 loss
US outdoor shoe maker LaCrosse Footwear has reported a net loss of US$0.7m for the first quarter of 2011, compared to net income of $1.7m in the prior year period, after sales were hit by a reduction of orders from the US military.
For the first quarter of 2011, LaCrosse reported net sales of $25.2m, down from $34.2m in the first quarter of 2010.
Excluding the government channel, LaCrosse said its sales to the wholesale, direct and international channels increased 14% collectively from the same period of 2010.
The company said gross margins for the first quarter of 2011 were 41.4% of net sales, up from 40.2% in the same period of 2010.
“While we continue to see quarterly fluctuations of US military orders, we achieved strong growth across our wholesale, direct and international channels, as well as continued penetration into various branches of the US government,” said Joseph P. Schneider, CEO of LaCrosse Footwear.
“Our sales to the outdoor market were particularly robust, as our relationships with major retailers continue to strengthen and we expand into new retail stores. Our newest products have been very well received and we see strong demand for both our core work and outdoor products.
“As we move into the second quarter of 2011, we are encouraged by the significant growth in our wholesale backlog, by the enthusiastic response of our customers to our innovative new products for autumn 2011 and by the effectiveness of our new sales and marketing efforts. Today we also announced another order from the United States Marine Corps which will be delivered during the second quarter of 2011, who turned to us to fulfil an immediate need for high-performance, all-terrain boots as a result of the recent recall of boots supplied by another manufacturer.”
