- Huw Hughes |
Rocky Brands, a designer, manufacturer and marketer of footwear and apparel, has reported a 57.3 percent increase in first-quarter revenue to 87.7 million dollars.
The US company saw sales in its wholesale segment increase 69.1 percent in the quarter, while sales in its retail segment were up 42 percent.
Net income increased 278.1 percent to 4.5 million dollars.
Rocky Brands acquired the performance and lifestyle footwear business of Honeywell International for 230 million dollars during the quarter.
The acquired portfolio comprised brands Muck Boot, Xtratuf, Servus, NEOS and Ranger.
“It has been an excellent start to the year for Rocky Brands as we delivered a strong first quarter performance and completed a highly transformative acquisition,” said Rocky Brands president and CEO Jason Brooks in a statement:
“We experienced robust demand for our Rocky, Georgia and Durango brands across our wholesale and direct to consumer channels, which when combined with an easier comparison due to the impact on our business from Covid-19 in the year ago period, resulted in a dramatic improvement in revenue and earnings per share.”