Rocky Brands Q2 2023 net sales down 38.4% to $99.8M; net loss $2.7M

ROCKY BRANDS, INC.

2023-Q2 EPS reported -$0.42 revenue$210,267,000

Wholesale segment sales fell 45.5% to $71.5M; Retail down 3.6% to $25.1M.
Gross margin improved 440 bps to 37.6% on pricing actions and lower logistics costs.
Operating income was $2.2M ($5.7M adjusted); net loss $0.37 diluted per share.
Total debt reduced 22.1% YoY to $221.7M; inventories down 24.1% to $218.3M.
Interest expense rose to $5.6M from $4.3M due to higher rates on credit facilities.

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