Welcome to our dedicated page for Rocky Brands news (Ticker: RCKY), a resource for investors and traders seeking the latest updates and insights on Rocky Brands stock.
Rocky Brands, Inc. (NASDAQ: RCKY) is a prominent global designer, manufacturer, and marketer of premium-quality footwear and apparel. Established in 1932, the company has expanded its reach to over 70 countries, with its global headquarters in Nelsonville, Ohio. The headquarters employs around 400 local residents, while the company boasts over 2,800 employees worldwide, including an office in Los Angeles, CA, and international facilities in Canada, China, Puerto Rico, and the Dominican Republic.
Rocky Brands, Inc. is renowned for its compelling family of brands which includes Rocky®, Georgia Boot®, Durango®, Lehigh Outfitters®, and Creative Recreation®. The company also markets the licensed brand Michelin footwear. With a strong emphasis on product innovation, targeted sponsorships, and social interaction with consumers, Rocky Brands aims to enhance consumer life experiences and foster lifetime loyalty.
The company operates through three primary business segments: Wholesale, Retail, and Contract, with the Wholesale segment generating the majority of its revenue. Rocky Brands' mission is to grow through innovative product development and strategic marketing initiatives, ensuring the provision of premium products that meet the evolving needs of their diverse customer base.
Recent achievements for Rocky Brands include the expansion of their product lines, enhanced global distribution capabilities, and strategic partnerships aimed at strengthening their market presence. The company continues to focus on financial health, operational efficiency, and sustainable growth to secure its position as a global leader in the industry.
Rocky Brands (NASDAQ: RCKY) has announced a quarterly cash dividend of $0.155 per share for its common stockholders. This dividend will be disbursed on June 17, 2024, to shareholders recorded by the close of business on June 3, 2024. The company's board of directors will continue to evaluate and determine future dividends on a quarterly basis. Rocky Brands is known for designing, manufacturing, and marketing high-quality footwear and apparel under various brand names including Rocky®, Georgia Boot®, and Durango®.
Rocky Brands, Inc. (NASDAQ: RCKY) announced positive first quarter 2024 results with a 2.2% increase in net sales to $112.9 million, 92% growth in operating income to $8.0 million, and a significant decrease in inventories by 26%. Adjusted net income was $3.1 million, or $0.41 per diluted share, compared to a net loss of $0.8 million in the year ago period. The Company reported enhanced profitability and increased shareholder value for 2024.
Ronky Brands, Inc. announced a comprehensive debt refinancing agreement with Bank of America to enhance its financial profile, cash flow, and liquidity. The new agreement includes an upsized $175 million revolving credit facility and a $50 million term facility, generating net savings of $2.9 million for 2024 and $4.4 million annually from 2025. The transactions extend debt maturities to April 2029, simplifying the capital structure and increasing financial flexibility.
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