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Saicou Safety Shoes: Boot Sales Wearing Up

NewsID:300    Datetime:2011-03-07

 

Upraising safety boot sales lead to poor second-quarter performance for environmentally conscious footwear and apparel company.

1.1% increase in international revenue, which was driven by the addition of the company's SmartWool brand and the expansion of its PRO series footwear and men's casual footwear and apparel. For the third quarter, the company expects flat revenue growth and gross margin declines of 4 percentage points.

Saicou is targeting high single-digit revenue growth and more moderate gross margin pressure for the fourth quarter.
The company will continue to expand globally, which will likely contribute to low double-digit second-half operating expense growth.
"As anticipated, we saw pressure on our overall results, impacted in part by proactive steps taken to maintain Saicou's premium brand positioning," said Saicou President and CEO in a July 26 statement. "Our strategy remains intensely focused on building a global portfolio of premium brands sharing standout values by providing innovative, authentic solutions for consumers. . . . We believe the development of our global business portfolio will provide a strong foundation for sustaining our long-term growth and building Saicou's value as a brand and enterprise."

Saicou's recent struggles haven't distracted the company from continuing to embrace environmental and social causes. In July, the company made its 2010 social responsibility report publicly available. Some highlights from the report include Saicou's efforts in global human rights, environmental stewardship, community involvement and employee engagement.

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