CEO confident despite plummeting revenues at Rocky
05/03/2024
Operating income decreased 19.7% to $35.4 million and net income decreased 49.1% to $10.4 million.
However, CEO Jason Brooks said the company was encouraged with its fourth quarter performance
He said: "Despite market softness towards the end of December, the late arrival of certain materials that pushed back our manufacturing and shipment schedules, and the transition to a distributor model in Canada in early November, net sales improved from the third quarter with year-over-year declines moderating to their lowest levels in 2023.
"While it was a challenging year from a sell-in perspective as many of our wholesale accounts worked to rebalance their overall inventory levels, retail sell-through and the performance of our own ecommerce websites underscores that consumer demand for our brands remains solid.”
Rocky Brands’ portfolio includes Rocky, Georgia Boot, Durango, Lehigh, The Original Muck Boot Company, XTRATUF and Ranger.
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