RCKY - Earnings call 4 2023 | Rocky Brands, Inc.

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Operator

Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to the Rocky Brands Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions].

I would like to remind everyone that this conference call is being recorded. And we'll now turn the conference over to Brendon Frey of ICR.

Brendon Frey

to us thanks and you, everyone today. joining Thank

of to that including statements may assume to on obligation the we Reform defined begin, and period, information which session, subject note please Act Litigation at statements. Securities materially. forward-looking differ such no Before and Q&A assumptions are this uncertainties, today's may results to the We changes, Private cause Such update and available actual XXXX. statements by time based as are contain risks

For to Brands. Jason discussion XX, and December for of Chief Brooks, with our please a XX-K the complete of ended to Securities risks today's reports XXXX. I'll Executive Officer uncertainties, now and Exchange the Jason? and our year refer Commission, turn including press Rocky the release the over filed conference

Jason Brooks

today's Brendon. I's and to remarks, after you, me Thank With is take Tom Robertson, be Tom call we happy questions. will prepared on

significantly from bringing days our market years pandemic, consumers transformed new the and few early a over of past organization has in center distribution volatile good a navigating during customers very acquisition, large The conditions. company a integrating COVID. this Our job the impact on the the servicing following did

improved results coupled single-digit business declines our in share in their improve from third our due positively levels part throughout the at of net in sell-in. of to e-commerce channel. reported fourth XXXX Despite inventory a in While and the its the our XXXX, had and to sell-through some fundamentals the impacted are of year sales headwinds accounts over solid year-over-year products, the lowest moderated direct high we position wholesale and our unexpected growth and quarter, improved challenges, our quarter levels to majority financially of our in growth. Encouragingly, our operationally solid, sequentially as great in are with continuing to invest

of or detail brands. and XX% Rocky XXXX, shortly. that sheet But will levels and Starting the inventories XTRATUF X select reviewing the fourth reduction with XX% Work. made brands and several up category improve few make with to with category, an Tom The million by to this continued the by strengthening under to this minutes quarter highlight. in or numbers end Muck our our cover brands areas Georgia, debt styles $XX and highlighted performance moderate, we constraints $XX compared build XXXX. progress great quarter first, to quarter the of our strongest stalled continued to want the a momentum balance million driving our important, sales throughout wholesale spend Equally in inventory partner I year. in decline reorders as brand Georgia began level the XXXX The that third demand to from throughout more

the this accounts, several basis compared a The in brand with largest quarter, our on strong to saw with & ago sales of year Ranch segment a these sequential and period. a customers increasing sell-in Farm both

decreases the notable Additionally, cost styles selective demand this for subsequent a Georgia savings spur helped price on pickup brand. year's certain and in

narrow and XXXX quarter, inventory significantly backlogs accounts been contributing to introductions recent best-selling drove many While to conservative orders received more Two new this George's in demand product new the well recent outsized caused have progress. to be SKUs. that

[Technical Difficulty]

Operator

some to resolved. difficulties technical line remain you. the we and Ladies Thank gentlemen, seem experiencing while the get be we difficulties. on Please

Jason Brooks

off cut Hello, this a is Jason there Brooks. for minute. We got

to throughout XXXX, continued the quarter Georgia demand began the brand. Georgia build will third brand inventory wholesale strongest constraints from that driving to stalled The I to start year. of the reorders a with moderate, the partner, So as momentum levels

sales this ago both the compared a Farm basis our these of Ranch & a strong saw increasing year quarter, and sequential to brand largest on The several with in segment sell-in customers with period. accounts

on helped decreases Additionally, Georgia spur in this for notable year's pickup a styles certain cost demand brand. subsequent price savings selective the and

best-selling many new recent narrow demand caused inventory more accounts that this Georgia's conservative to progress. orders significantly new the and drove well to recent backlogs quarter, product be X contributing have introductions outsized been SKUs. to received While in XXXX

these remains demonstrates even styles environment. that with Strong current sell-through the new relevant for in and brand Georgia the in demand consumers

challenged Rocky replenishment with Our Work continuing remained orders. brand excess this inventory levels quarter to impact

that new momentum, seen boots, a was line sell-through more we quarter. prices in moderate the there similar introduced fourth retailers higher-priced and the with some However, positive top-tier of particularly We've strong work with product new for products.

the and ahead. and line This both delivered line Work a product to our positive brand reinvigorate provide years contributions the quarters quarter. in rubber-based in for done Rocky the made the fourth underscoring brands product, Muck brand. their our in momentum on XXXX Dominican margin positive the Shifting recent The own solid top new facility should to we've XTRATUF Muck comparison, the work year-over-year in work

audience, As to brand's we've seen kind. consumers' benchmarks we the with has targeted Muck's industry communicate outperformed significantly marketing message demand resonated continue in directly adjust metrics our and more brand to

For decrease year, Also styles several the the U.S. the time in November products XX legacy helping prices market work. also this on first for for wholesale this introduced saw fuel and the year-over-year in season. growth new Muck fall/winter we demand Muck

we fall Muck the XXXX. into a While that well above-average posted temperatures coming confident season is headwind, to are 'XX positioned start slight

outpacing the and consumer we quarter very left the growing to QX XTRATUF awareness bookings the styles in-demand period. carried as in on capitalize for ensuring relevance of added both the time, key progressed, the year-over-year of expectations inventory surging, the momentum With sizes. and growing stronger same We into will at-once XXXX sell-through XTRATUF brand positions strong for improve XXXX. availability QX, scale. in business inventory look its e-commerce persistently partner significant in base chasing by our the us in in saw growth market driven At for from driving product wholesale resulted U.S. that XTRATUF positive and we

business. Turning now to our Western

that on results, both to quarter of operating replenishment and early inventories We year. well from orders Durango the 'XX. holiday are the in nice ordering strong was replenishment-only accelerated able the fourth several accounts ahead earlier secure and stock top in due the key to 'XX currently in sell-through many strong accounts for to While period the saw trend bookings

saw with distribution the of year quarter also acting accounts channels an catalyst best field new brand. retail improving climate and the We our the from positive for as

better higher and Most our more they reporting growing positions styles our or are inventory focus eliminate that favorable allow slow-moving importantly, inventory for the of sellers results going on in demand, customers are to with turns significantly improved take and now advantage best brand modernizing which stock to forward. positions

continues several across quarter within saw This the Western better our along bright spots retailers growth to own who dot-com with results Our and key channel, included Rocky solid and from we Western partners this the our saw with sell-through channel. quarter. in business strong Boot stabilize, e-commerce

will business we've began Looking very retail Boot partner trends year, this fourth overall to e-commerce ahead, apparel reposition difficult and Though category its particularly our Rocky XTRATUF first we stabilize the quarter in return the X gains, allow forward. are under by our Outdoor, Western was trends seen improving of inventory to of historical weather styles brands, Muck lines. improving challenged to growth a quarter trajectory. to optimistic quarter that which months includes trends after improving the conditions for and and our take advantage Rocky wholesale helped unfavorable going still improvements the the Outdoor

within product, by all been our least, cap more when Muck improvement for fourth was Last and Also, spot not year collection quarter, off notable part it marketing. but of outdoor driven the to orders in segment. Military recent we for as delivered suppliers a business. discussed in and I XTRATUF Army Code great a bright and strongest penetration quarter of a the mentioned in Commercial Work has outdoor-focused our U.S. the division's both this year, Red Fire as the brands in new the product quarter memory this from fourth drove Wholesale

Retail Sales of traffic our Rocky, ago low e-commerce each branded increased for single our segment. digits a period, to Muck direct sales a and solid channel, the year Durango, and our in compared to double-digit XTRATUF Georgia, saw to quarter increases very thanks sites, quarter. Shifting

directly, should the going continue to to efforts digital enhance consumers to impact allowing margin trend our segment's we growth and which this continue engage more and with profile. We forward, positively marketing us expect

as BXB year-over-year down line was Lastly, business very in a expectations lapped strong XXXX. Lehigh we with our growth in of quarter

rebound XXXX comparisons of the sales in year. events to ease increase, accounts as to this expect continue the that with and slated key for bookings several We introduction along new

I connections year. and we pleased am fulfillment put building, brand as work to our did product results consumer of towards the I that the am ready improved translate into end behind capabilities XXXX As innovation, started us, the to strengthening

deliver good earnings growth control, we on focusing we're we By XXXX. can well to exited momentum with and controlling situated in XXXX what enhanced

to Rocky turn efforts the I I team for to Before to over entire Tom, call want excellence. the their the and thank commitment

and the business, shareholders over ups past benefit the have years am weathered over downs the have X that a next term. organization will the emerged and stronger our confident I long year We and

Thank you, Tom.

Thomas Robertson

Jason. Thanks,

level seen are in business quarter, in of we've top to lowest resulting declines all moderate recent to we sales pleased shared, beginning the year-over-year see to pressures Jason As wholesale line and year. our growth sequential this quarter-over-quarter

segment to and the million sales exclude For XX.X% you decreased on year $XX.X $X.X manufacturing million, wholesale to service ago $XX.X or from brand the X.X%, $X.X decreased X.X% fourth were excluding basis, $XXX reported quarter, sales the sales year-over-year Retail million to a of contract by X.X% sales sales when increased million. or service X% a million. period

to profit. Turning gross

Retail was the XX to same compared This gross related decrease which a $X.X than segments. Contract XX.X% net in higher the sales a an quarter, of partially profit For was million tough in $XX.X gross margins a sales year the attributable margin the year. higher of $XX.X XX.X% comparison mainly period was Wholesale or percentage impact recovery of sales, million to sales of mix or in prior Manufacturing segment period. year-over-year basis tariff fourth point of last million gross and within as offset to carry a approximate by The

net segment were benefit tariff a as to XX.X%, were XXX points. up points last XX.X% net of were of XXX the Retail sales follows: gross to excluding XX.X%. or down sales compared Wholesale, down million year. year Gross however, was $XX.X were margins XX.X%, of Meanwhile, or margins XXXX, expenses to Operating basis Contract in basis million quarter gross fourth points margins XX% basis by Wholesale XX the and ago, to Manufacturing $XX.X recovery down

$XX.X expenses reviews adjusted and basis, operating achieved ago. were is largely $XX.X attributable savings strategic restructuring year the current year implemented the operational past cost we in year. and On million efficiencies that period million initiatives in through over to a an decrease The

or X.X% million As expenses year sales compared $XX.X in ago. fourth in quarter of XX.X% the $XX.X net or Adjusted XX.X% net a of the income from compared net were year sales sales $XX.X percentage ago XX% XX.X% of in or of million adjusted of operating net compared year million operating or operating period. to ago. XX.X% sales, a a operations Income of of million XXXX $XX.X income adjusted was to to was sales

$X.X interest with in of levels decrease the period. quarter quarter XXXX the fourth expense the For in million of was ago lower debt year quarter million fourth compared XXXX. The compared reflects $X.X the to

than to On share XXXX. quarter reported diluted a quarter the per was The tax increase, recognized XXXX tax a per XXXX for adjustment effective or $X.X in or compared XX.X% ago. of a income or of projections quarter net fourth share XXXX. in diluted million compared increased quarter net rate return which income XX% resulting initial year $X.XX The basis, foreign was per for income from to the of per of driven credits $X.X $X.XX $X.X $X.XX year of our of diluted of year-over-year net fourth net fourth to the share primarily million higher fourth a $X.X by income to we million million compared diluted the adjusted or ago. was share to provision Adjusted GAAP $X.XX

Turning to results. year full our

XXXX sites. were year our our and working we encouraged for sheet performance great solid also excess our in growing and wholesale future the partners through was strengthening While retail inventories, company progress challenged year sell-through was of by made a which positioning growth. we the balance the e-commerce by

or September divested which XX.X% 'XX, sales 'XX adjusted For respectively, excluding decreased the full basis sales, in of adjusted XX% an year, to $XXX.X and brand were net approximately down NEOS on and of XX.X%. were service March net million sales

and segment, service or By up decreased XX.X% NEOS XX.X%. Wholesale Manufacturing X.X% Contract the was decreased excluding XX.X%, Retail brands, and

and Adjusted million, net adjusted In EPS $XX.X decreased sales. to basis profitability, operating terms net margins of X% of adjusted increased operating income points XX.X% to while was $XX.X was income million XXX adjusted $X.XX.

to $XX.X XX% effective tax For for which in year, the the and with foreign rate a XX.X% I interest the due compared XXXX an rate was moment million XXXX XX.X% projected in of of $XX.X full million, was expense mentioned for in our above fourth tax our the tax was year, credit increase adjustment compared to quarter, ago. prior XX.X% XXXX

compared At $XXX.X ago. year. inventories part has inventory At our our We strategically compared progress Turning reduce stood quarter, $XXX.X paydown million. debt debt by sheet. down debt to and with been XX.X% the a big balance months XX to A indebtedness, quarter, were and cash end our fourth the the last million the our fourth end end ability excellent XX.X% our equivalents the year of million made over of last at million levels. paying million, driven or $X.X $XXX.X cash to down totaled $XX.X the lower of of to the total

Now to outlook. our

into Before changes get XXXX, comparisons. we about I highlight how of want thinking impact that couple I a year-over-year are to business

recall, First, brand sold you end the of as of we last first year. the at quarter the service

Following part of owners process. the months brand new the manufacture several we of as product continue transition sale, and the to the supply to for

second we our for had Durango distribution do our and with Georgia in model November, Rocky, Muck In to Boot, a from to change operations direct The brands. Canada. XTRATUF distributor switched

agreement. negatively term, to top positively it the in profitability little While impacts is decision this SG&A the there as associated our with to new contributes no near line

geopolitical this In events will do to orders in million that the customer supplies an In reoccur This global and itself. given not level XXXX. also we in total, with driven addition temporary anticipate approximately was fulfilled of their current demand revenue changes, inventory we repeat position, from expect amount in U.S. spike Army by $XX a to sell-in footwear. of escalation elevated these we not in to X XXXX

X% revenue. $XXX this over expect This base growth the be of year, nonrecurring excludes the adjusted XXXX's million, represents we to to to at million. range which of approximately Looking revenue in $XXX million aforementioned X% $XXX

cadence half. of expect of in year terms the slight the of we half in In the first before growth revenue, accelerating to see second

We the -- partially marketing or as gross bonuses XXXX includes XXXX. margin deleverage from our with to investments slight to delivered consistent in -- margins well as as consistent did will gross margin offset be any in not This in brands for remain see we SG&A adjusted expect compensation we improvement pay XXXX. by as performance-based

on change we levels a biggest be expense down million. to interest rates, be in approximately year-over-year The expect down expense will interest interest our debt. and paying made as result year-end debt of Based $X progress current our the we the

prepared That for are we concludes ready our questions. Operator, now remarks.

Operator

of first line Your Instructions] from BTIG. [Operator Janine Stichter the question with comes

Janine Hoffman Stichter

sounds broadly mentioned First in pretty in clean. about like there. then some more channel to on bit hoping And It any a on other then brand, if could wanted also think it's excess. pockets channel ask Rocky you that. I inventories, the excess XTRATUF. I was inventory I of And you there's elaborate on general,

really love become just some nice of thinking of seasonal would to to momentum selling more have about that you're about I less potential out a how making year-round just more a You period, it the hear to more and business for round business. there.

Jason Brooks

in Janine. of Yes. questions a There's Thank you, there. lot

inventory. So about and I think Rocky one was some first the

brands, own inventory the themselves pretty the inventory like inventory. we an of a are good I of gotten all on feel retailers from think pretty most from position place have our in good a position. into I in And

conversation they believe there's cautious year. orders filling how do and this an about still Obviously, election being around. going booking very we're in, I are are Although they

bit everybody little a nervous. makes So I think that

a that that's a position, are good I in and are in But our some that. pretty pretty good retailers position, believe around but we still cautiousness

other remember was XTRATUF. I The one

the the one think Rocky . remember I I'm was sure the and first one I not last -- was them sec XTRATUF.

Thomas Robertson

if a boating you Yes, more unique summer the of a and brand, fishing in it's XTRATUF the -- it's since perspective. think from brand,

or happens of summer which most fishing people seen seasonality the for little a success the of that Coast in load maybe we've the more QX months. business in East So as leans

However, Pack we have Glacier the the introduced version, is new have also which fleece a Trolling which is collection, like Ankle and Boot, Truck fleece-line. also Deck line products we

people seeing fall as embrace their for winter that well. product we're boot So and

some and As well well. slides as flip anticipate we've in also sandals, flops strong selling as spring new launched that we the

Jason Brooks

how in talk Yes, I brand Georgia, in probably brands, the our not try think s****** would s*** to too big really I too sure of being a there. about just have. about general, broad, and very make add that we we XTRATUF fast see Muck. that we of we if all Durango opportunity be you quick. for Rocky, and and us expansion do is go want We too control careful it don't to And and

there's brand, upside. . we're really that about So excited a and think and I big opportunity

Janine Hoffman Stichter

helpful. last That's then Perfect. And one maybe one.

elaborate just growth doing what could little DTC strong on drive maybe there with more e-commerce, seeing in bit strength you been a to If just you've about business. you're the that the

Jason Brooks

Yes.

same I advertising are We right? everybody doing think thing on more else media. social doing, is the

We are younger appealing the to crowd.

We more introducing our brands, out traffic -- via seeing lot in Instagrams, of a to them all to are own platforms and getting the we there the our websites. and are them front the

seeing a more our We through lot are own transactions website.

e-commerce are you brand that, resonating. back would And kind from that standpoint. And of the XTRATUF, resonates I so more even Internet I one brands is think that the even to tell an

had So anything add, I if to you know Tom. don't

Thomas Robertson

Yes.

through social guidance, in a investment are look search. in whether And media happening to I or in it's marketing or into XXXX, pay-per-click think we marketing. investments those as going of out called lot the I digitally, the be

it's consumer it's apparent to is than through other to our of So buy the to our brands the really XTRATUF happening online X/X to the Jason's quarter drive much really XTRATUF continue e-commerce our consumers of own that almost fourth to sales quicker brand we're in websites with and going for some point, channels.

our it we're So trajectory XXXX. business about the e-commerce invest and of in in continue excited to

Jason Brooks

though, a act. to I do balancing want it's add,

us, have Our wholesale to we and through as as partners to . well this. are important very go that we navigate

Operator

The Financial. B. Jeff line comes with of the Riley next from Lick question

Jeffrey Lick

as XXXX, into you we was hit you as just we could bit -- last little wondering filter and wondering the I through if as could you'd I easier if a some on And any business gone. wins, you baseline the the the Lehigh. talk year Maybe that year mentioned about is, just compares account at technology. was we're look talk get where a gone little key that as with stuff of also had

up kind holding curious how what Just of for we is about business should XXXX. think and that

Thomas Robertson

Yes. I'll grown Lehigh one this last several business over kick The off, years. us has for the Jeff.

in additional think the had I challenging XXXX think year be a saw whether in orthotics. XXXX, the particularly at it HR incremental products, footwear it. or of we world end I the world buy footbeds get for and or saw we more subsidies was vouchers PPE of and when manager XXXX, budgets this their and safety dollars managers the little to that people

fourth we business XXXX. be we and tough actually met it in down so or guided expectations. -- And our the quarter expected very XXXX it to the into the going business we We had a knew of -- XXXX, in comparison --

as start back that opened doing see we pulling their the on at key little year they saw some their so this we've cuts own were the savings some that year accounts January. to earlier we little And budget kicked in think bit SG&A where feel businesses up or of a end and new to so in I a spend we off bit

in would So for in XXXX presumably business good we the about back growth XXXX. get Lehigh feel business to and

Jeffrey Lick

just kind And Great. follow-up. of one

pre-booking you on of I'm talking call a stand what curious, in little do the aggressively? maybe less kind willingness I'm things curious little about. the actually of more where than a and their You not aggressive more it, to of terms of need Janine on, terms asking names, just to buying needle be national just kind name and movers, accounts, build was to ordering in bigger I'm

Jason Brooks

Jeff. question, Good Yes.

or we bit. at-once not They giving business, as in least think business little this forecasting at that seen are I up active, and loosen a booking being more well have regards to only but information. definitely us some

definitely category, we've the Western open in seen category, outdoor the So category. the Farm Ranch up that &

will little it And be cautious it to say so still doing good for and But a seems they're bit is everybody that's us. been -- doing still and a definitely it's sign. what pretty it. how I they're changed

Thomas Robertson

Yes.

that on, shift the our rest to mean calculus think, of are booking but their as the XXX% they're where we're normalized I and at bookings more to little -- buyers kind of over back year, products we were point, couple the conservative. cautious at-once that the do like as increase Jeff, up, being saw is, more trying a the behavior we of to we at bookings last bit XX% look the to for years of Jason's just -- ordering because add will saw the does the and

what the but to So trying out figure wait we'll see. and new normal we're is,

Operator

Your next Baird. Jonathan the from comes with Instructions] of [Operator line Komp question

Jonathan Komp

Just for me. X questions

think, relative what you drive you're on at you slower margin basis headwind just for see give category, or specifics margin outlined. sales? the year just maybe revenue commentary. expecting ability quantify growth for numbers, the even And you or any the see? are based the And on I the looking Or about you by the Can incentive you've on a on thinking using less for the growth you operating that segment color could compensation deleverage year. separately, how Tom, you're XXXX? what then more to underlying could maybe right just this any first,

Jason Brooks

Yes. Jon. Thanks,

growth. bit little a So of I'll kick off with

look Lehigh all rate well. division, as a higher then probably all more Georgia, I there probably but think equal Rocky, at brands, the them of anticipating about for look bit little would or brands, the Muck growth XXXX little expecting We and think would there, we're a except Durango, similar for all our upside as we the there's bit brand. pretty I kind rates at we XTRATUF say growth

Thomas Robertson

Yes.

think $XX I sorry, million we would nonrecurring to the in add revenue, million million to to out, modeling $XX that help of that would Wholesale show that, just the of of out on -- for I'm purposes up, well, $XX called that segment.

between you'll see and where that's with other so Contract that Retail slip the being Manufacturing. comparison And X

a also comes million a from $X give million, that million and in and color $X about to QX. $X million QX to would quarterly perspective, little Just say $XX then out of million about in I QX, $X QX

all lined so can Is bit. analysts the I up Just get their Jon, a around last operating question kind the of you then, was that quarters believe little had their expenses. And correct?

Jonathan Komp

Just for the what margin drive on you're ability incentive the reset. sales color Or G&A on slower operating and roughly including what expecting Could margin more any year. to you the any compensation just give if clarify the growth? could you deleverage expenses, operating

Thomas Robertson

Yes.

would a expense I million dollar dollar from looking So say from standpoint, an perspective. operating at increase we're a few

flat to margin try LY. that be keep with operating is to going to goal Our

However, under sit numbers. got as we slightly just today, XXXX we've it

Operator

Your comes is the from question final Bruce who Private Investor. a Goller, line of

Unknown Attendee

to those balance You proceeds below made year enhance incremental case, some go a into Can refinancing current sheet. inventory? If locked preliminary up for prospects down, where share the some the ratio debt, you your expense debt a the generate P&L. in to that's you down. It about to you've think seems from would, some And of $X year. that. of guidance around on be lot in down me similarly, the terms would think, some also debt-to-EBITDA can in I X channeled in imagine continue I should debt so, you your numbers, would growth this give in be you earnings the pay the And further pay which curious impressive still get And are able what based cash this can if really XXXX. considering interest I'm on got progress

Thomas Robertson

I'll Bruce, this This Tom. is Yes, Yes. take one,

So an long-term inventory perspective, number from XX% an of perspective. a sales that targeting we've as inventory from been

that million there's would to suggest $XX million, another come that inventory off. So $XX of

forward. We that then on will Canadian change kind mid-X and got we've capital distribution go see will total right, ourselves should math debt how paying your to And that is going exactly correct help standpoint. in also leverage ratio this there working the ratio the you're range to of improvements leverage the down a from number

with would ratio right from a And I sit here our an from so work anticipate we'll find XXXX today. solution continue where where lenders standpoint standpoint. is, credit that leverage But from expense unlock able given in be we try to we'll some to facility this to savings interest the to

Unknown Attendee

had question the guidance. Okay. on I also revenue a

million, with growth be $XXX versus in you mentioned growth which I modest noted million think but to half. would that $XXX second in flattish the half about LY, expected you also you the first accelerating

any growth. there's but going So does you imply disconnect year, of throughout the the bit aggregate number a a because there not implied that there's to be growth

maybe provide would be clarification, if you could great. some that, but I misheard So that

Thomas Robertson

absolutely. Yes,

this comment talked about. million, we're million of we growth So of revenue $XXX was that like that the considering which essentially X% which kind new minus the back nonrecurring is X% $XX base, results, year's to the what driving of to was

to first then blended X% of And I a X% to that and X% to of in I maybe we X% guided range quarter second on half year to. that to the so at look to the and X% that, the get of growth, tried the that what year that color X% in half the new lower see little if would were would kind base to give would to each you say, be. on you But

Operator

this remarks. Please There ahead. are now no turn to the I further go Brooks at for will time. questions closing call Jason back over

Jason Brooks

to was year really more all an the Brands forward investors we ahead Eric. XXXX the are I one 'XX I you thanks job thank to Thank us. the XXXX wanted just and about did you, our I to have in And support time. XXXX want look all it. in and future Rocky people the that a navigating I that guys amazing and proving their up and look we happen. in in you stepped of complicated, our great know say and just also and to team Rocky to of company to future with the an challenging incredibly working excited to make forward company

all. you thank So

Operator

Ladies and and for gentlemen, lines. you you this concludes ask conference disconnect that your participating thank today. call for your please We

Rocky Brands (RCKY) 28 Feb 242023 Q4 Earnings call transcript