A sagging wholesale business—hurt by excess retail inventory and lapping 2021’s extra sales pushed from Q3—sent results lower in the final quarter, as net income fell 48% to $6,515,000 from $12,546,000 on an 18% revenue decline to $138,926,000 from $169,452,000. Retail sales jumped 41% to $37.3 million, partially offsetting a 27% drop in the wholesale segment to $98.9 million. Contract manufacturing sales tumbled 67% to $2.7 million due to expiration of military contracts.

Outdoor segment sales of the Rocky, Muck and XTRATUF brands were lower due to timing issues, with early deliveries ... Log in to view full article.