Net sales of Apparel marketer, Rocky Brands for the fourth quarter ended December 31, surged 28.2 per cent year over year.
Fourth quarter net sales expanded 28.2 per cent to a record $78.9 million versus net sales of $61.6 million in the fourth quarter of 2013.
Rocky Brands reported record fourth quarter net income of $4.5 million or $0.59 per diluted share as compared to net income of $1.8 million or $0.24 per diluted share in the same quarter of last year.
Gross margin in the reporting quarter totaled $27.6 million or 35.0 per cent of sales as against $21.8 million or 35.4 per cent of sales for the same period in the previous last year.
“The 40 basis point decline was driven by higher military sales which carry lower gross margins than wholesale and retail,” the brand said.
$2.2 million SG&A expense hike was due to higher compensation expense, higher variable expenses associated with the Creative Recreation brand, the company said.
