An approximate $15.0 million reduction in cost of goods sold from recognition of expected IEEPA net tariff refunds in the second quarter pushed net income up nearly fourfold to $13,881,000 from $3,608,000 on 12% higher sales of $118,368,000 against $105,647,000. For the moment, the refund has not been collected and was added to RCKY's balance sheet as a receivable. Once the cash arrives, the company said it will prioritize debt repayment and investments in expanding distribution capacity. Based on the better-than-expected quarter, RCKY raised its full-year revenue growth guidance to 8.5% ... Log in to view full article.