Rocky Brands, the apparel and footwear designer and manufacturer, has seen its second-quarter net sales touch US $ 162 million.
That’s a growth of 23.1 per cent! The Q2 of 2021 had seen the retailer post US $ 131.6 million.
The wholesale sales in the quarter rose by a good 29.7 per cent to US $ 131.2 million from US $ 101.1 million for the same quarter a year earlier.
The company’s Q2 retail sales rose by 16.4 per cent to US $ 26 million compared to US $ 22.3 million recorded in the same period a year before.
Gross margin posted by Rocky Brands in the second quarter was US $ 53.8 million, which is 33.2 per cent of net sales. The same was US $ 49.2 million in the Q2 of 2021.
The adjusted gross margin in the second quarter of 2021, excluding US $ 2.3 million inventory purchase accounting adjustment, was US $ 51.4 million, or 39.1 per cent of net sales.
The company attributed the fall in gross margin to rise in product costs, inbound freight costs and other shipping and logistics costs.
Notably, the Q2 operating expenses were US $ 48.2 million, while the same was US $ 40.7 million in the same period in 2021.
The growth in operating expenses was primarily due to higher outbound freight expense and higher variable expenses associated with the increase in sales.
Founded in 1932, the US firm designs, develops, manufactures and markets outdoor, work, western and military footwear, and other outdoor and work apparel and accessories.
