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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, Inc. (NASDAQ: RCKY) announced participation in the 2023 ICR Conference with a scheduled presentation on January 10, 2023, at 10:30 a.m. Eastern Time. This event will be available for online viewing via their investor relations website. Rocky Brands is renowned for its premium quality footwear and apparel, featuring brands like Rocky®, Georgia Boot®, and The Original Muck Boot Company®. Further information can be accessed on their official website.
Rocky Brands, Inc. (NASDAQ: RCKY) appointed Dwight E. Smith as a Class I director, effective January 1, 2023. Mr. Smith brings extensive experience as the founder and CEO of Sophisticated Systems, Inc. and has served on several boards, including the Federal Reserve Bank of Cleveland. Concurrently, Glenn E. Corlett and James L. Stewart will retire from the board effective December 31, 2022, reducing the board size from eleven to ten members. The company acknowledges their contributions over 48 years of combined service. Smith's addition aims to enhance board leadership.
Rocky Brands, Inc. (NASDAQ: RCKY) has declared a quarterly cash dividend of $0.155 per share, to be paid on December 15, 2022, to shareholders of record by December 1, 2022. The future declaration and payment of dividends will depend on the quarterly assessments by the board of directors. This reflects the company's continued commitment to returning value to its shareholders. Rocky Brands is a well-known designer and manufacturer of quality footwear and apparel, with prominent brands like Rocky® and Georgia Boot®.
Rocky Brands reported strong third quarter 2022 financial results, with net sales increasing by 17.5% to $147.5 million. Adjusted net sales rose 14.7% to $143.9 million. The wholesale segment saw a 25.8% increase, while the retail segment increased 7.3%. Net income improved to $5.7 million, or $0.77 per diluted share. Despite a drop in gross margin percentage due to cost pressures, operating expenses decreased significantly. The company maintained confidence in its growth strategies amid macroeconomic challenges.
Rocky Brands, Inc. (NASDAQ: RCKY) will announce its third-quarter financial results for the period ending
Rocky Brands, Inc. (NASDAQ: RCKY) has promoted Tom Robertson to Chief Operating Officer, a newly created position aimed at enhancing operational efficiency. Previously CFO, Robertson will oversee daily operations while a search for a new CFO begins immediately. The announcement comes as David Dixon, President of Manufacturing/Sourcing Operations, steps down after 29 years. Chairman Jason Brooks praised Robertson's contributions and expressed confidence in his ability to drive profitable growth.
SureWerx has announced the acquisition of NEOS Overshoe from Rocky Brands (NASDAQ: RCKY), enhancing its portfolio in the safety footwear market. This acquisition aligns with SureWerx's strategy to expand its offerings and strengthen its position in the industrial and professional overshoe market. NEOS, known for its premium overshoes, has evolved over the years and now serves various industries, ensuring protection against harsh conditions. The deal reflects SureWerx's aggressive growth strategy in safety products, adding to its existing brands.
Rocky Brands, Inc. (NASDAQ: RCKY) has announced the sale of its NEOS Overshoe division to SureWerx, a global manufacturer of safety products. The specific terms of the sale were not disclosed. Rocky Brands acquired NEOS in March 2021, aiming to enhance its portfolio in performance footwear. NEOS has been a key player in designing overshoes for consumer and worker protection since 1993. This strategic move aligns with Rocky Brands' focus on optimizing its core offerings while collaborating with SureWerx to expand the NEOS brand's reach.
Rocky Brands, Inc. (NASDAQ: RCKY) has declared a quarterly cash dividend of $0.155 per share, payable on September 15, 2022, to shareholders on record by September 1, 2022. The board of directors will determine future dividends and payment schedules. Rocky Brands is known for a portfolio of premium footwear and apparel brands, including Rocky®, Georgia Boot®, and Durango®. Forward-looking statements in the release indicate potential business risks, with no assurance of meeting projections.
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