Earnings Wrap: Rocky Brands Reports Latest Results + More

FN keeps track of all of our earnings coverage for retailers and footwear companies here. May 2, 2023: Rocky Brands, Inc. (RCKY) Earnings: Net loss in the first quarter was $0.4 million, or a loss of $0.05 per diluted share, compared to net income of $7.3 million, or $0.99 per diluted share, in the same time last year. Sales: Net sales decreased 33.9 percent to $110.4 million in Q1, compared with $167.0 million in the same period last year. CEO Comments: “Consumer demand for our brands remains healthy and our gross margins are up significantly year-over-year despite some industry headwinds that are pressuring our top-line,” Jason Brooks, chairman, president and CEO, said in a statement. “We experienced positive sell-through with many of our key accounts during the first quarter. Unfortunately, our wholesale performance didn’t translate into increased sell-in as many of our retail partners are in the process of working down elevated inventory levels and have recently adopted a more cautious approach to reorders due to the current economic backdrop.” A Hibbett Sports storefront. CREDIT: Courtesy of Hibbett Sports March 3, 2023: Hibbett, Inc. (HIBB) Earnings: Net income in the fourth quarter was $38.4 million, or $2.91 per diluted share, compared to $17.7 million, or $1.25 per diluted

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