A $4.0 million trademark impairment charge on Muck Boots pulled down net income in the fourth quarter to $4,801,000 from $6,712,000 a year ago on 2% higher sales of $128,054,000 compared to $125,952,000. The wholesale segment declined 5% to $81.3 million, primarily attributed to the switch to a distributor model in Canada, but that was more than offset by a 15% increase in retail segment sales to $43.6 million and 39% higher contract manufacturing sales of $3.2 million due to a new military contract.

Gross margin expanded 130 basis points to 41.5% ... Log in to view full article.