- Rocky Brands (NASDAQ:RCKY) says it will seek to find operational and cost efficiencies as it moves forward amid a challenging retail environment.
- A cut by the company of its U.S. work force is expected to lead to approximately $3M in reduced annualized operating expenses once the plan is fully implemented.
- Management also wants to designate more resources to support growth in the lifestyle segment in order to help reduce the dependence on optimal weather.
- “Our total focus at this time is on maximizing earnings and laying the groundwork for more consistent profitability in future years,” said CEO David Sharp.
- The board plans to make strategic stock repurchases as well.
- Source: Press Release