Helped by product price increases taken in 2022 and lower logistics costs, Rocky Brands improved its Q1 gross margin by 200 basis points to 39.6%. But the Georgia Boot parent reported a 69% decline in operating income to $4,155,000 against $13,197,000 for the period ended March 31. The Q1 net loss was $398,000 versus a profit of $7,339,000.

Revenues declined by 34% to $110,445,000 from $167,025,000, as wholesale sales fell by 40% to $80.1 million, while retail sales increased by 3% to $29.5 million. RCKY’s contract manufacturing segment revenues declined to ... Log in to view full article.