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.
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.
Rocky Brands reported a 23.1% increase in net sales for Q2 2022, totaling $162.0 million, driven by robust wholesale sales that rose 29.7% to $131.2 million. Retail sales also improved by 16.4%. Despite these gains, operating income dropped to $5.6 million, with net income decreasing to $0.9 million or $0.12 per diluted share, impacted by rising supply chain costs. The company aims for sustained growth by implementing price increases and improving supply chain efficiencies.
Rocky Brands, Inc. (NASDAQ: RCKY) will release its financial results for Q2 2022, ending June 30, on August 2, 2022, after market close. Management will host a conference call at 4:30 p.m. ET to discuss the results. Investors can participate by calling (877) 704-4453 domestically or (201) 389-0920 internationally, or join via a live webcast at www.rockybrands.com. A replay will be available until August 16, 2022. Rocky Brands designs and markets premium footwear and apparel under various well-known brands.
Rocky Brands, Inc. (NASDAQ: RCKY) has completed a cost savings review to enhance profitability following its acquisition of Honeywell's lifestyle footwear business in March 2021. The company will close its Boston office and reduce non-manufacturing staff by about 13%, expecting annual savings of $3.0 to $4.0 million. A one-time severance charge of approximately $1.0 million will be recorded in Q2 2022. CEO Jason Brooks emphasized the acquisition's success, aiming to convert sales growth into improved margins.
Rocky Brands, Inc. (NASDAQ: RCKY) has declared a quarterly cash dividend of $0.155 per share, scheduled for payment on June 15, 2022, to shareholders on record by the close of business on June 1, 2022. The board will decide future dividends and related dates on a quarterly basis. Rocky Brands is noted for its premium-quality footwear and apparel brands including Rocky®, Georgia Boot®, and The Original Muck Boot Company®.
Rocky Brands, Inc. (NASDAQ: RCKY) reported a robust first quarter for 2022, with net sales skyrocketing 90.5% to $167.0 million, driven by a significant increase in wholesale segment sales, which rose 126.2%. Operating income surged 100.5% to $13.2 million, while net income increased 63.4% to $7.3 million. However, adjusted net income saw a decline of 6.8%. The company continues to invest in distribution capabilities amidst rising operational costs. Strong demand for its diverse footwear brands positions Rocky Brands well for future growth.
Rocky Brands, Inc. (NASDAQ: RCKY) will release its financial results for Q1 2022 on May 3, 2022, after market close. A conference call for discussing results is scheduled for the same day at 4:30 p.m. ET. Interested parties can join by calling (877) 704-4453 (domestic) or (201) 389-0920 (international), or via a live webcast at www.rockybrands.com. A replay will be available until May 17, 2022, by calling (844) 512-2921 (domestic) or (412) 317-6671 (international), using ID number: 13729443.
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