WEYCO Group Inc
NASDAQ:WEYS
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WEYCO Group Inc
Weyco Group, Inc. engages in the design, production and trade of footwear for men, women and children. The company is headquartered in Milwaukee, Wisconsin and currently employs 439 full-time employees. The firm designs and markets footwear principally for men, women and children, under a portfolio of brand names, including Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters and Forsake. The Company’s products consist primarily of mid-priced leather dress shoes and casual footwear composed of man-made materials or leather, as well as outdoor boots, shoes and sandals. The Company’s footwear is available in a range of sizes and widths, primarily purchased to meet the needs and desires of the general American population. The firm operates through two segments: North American wholesale (Wholesale) and the North American retail (Retail). Wholesale segment markets its shoes across the United States and Canada in approximately 10,000 shoe, clothing and department stores. Retail segment consists of e-commerce businesses and four brick and mortar stores in the United States.
Weyco Group, Inc. engages in the design, production and trade of footwear for men, women and children. The company is headquartered in Milwaukee, Wisconsin and currently employs 439 full-time employees. The firm designs and markets footwear principally for men, women and children, under a portfolio of brand names, including Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters and Forsake. The Company’s products consist primarily of mid-priced leather dress shoes and casual footwear composed of man-made materials or leather, as well as outdoor boots, shoes and sandals. The Company’s footwear is available in a range of sizes and widths, primarily purchased to meet the needs and desires of the general American population. The firm operates through two segments: North American wholesale (Wholesale) and the North American retail (Retail). Wholesale segment markets its shoes across the United States and Canada in approximately 10,000 shoe, clothing and department stores. Retail segment consists of e-commerce businesses and four brick and mortar stores in the United States.
Sales Decline: Net sales fell 2% to $73.1 million in the third quarter, with particular weakness in wholesale and retail segments.
Margin Erosion: Gross margins dropped to 40.7% from 44.3% last year, driven almost entirely by higher tariffs that outpaced price increases.
Profit Down: Net earnings declined 18% to $6.6 million, and EPS was $0.69, down from $0.84 last year.
Special Dividend: The Board declared a special cash dividend of $2 per share, in addition to the regular $0.27 dividend.
Inventory & Cash: Inventory was reduced to $67.2 million, and the company maintained a strong cash position of $78.5 million with no debt.
Tariff Headwinds: Management emphasized that unpredictable tariffs, especially from China and India, drove margin pressure and remain a major risk.
Mixed Brand Performance: Florsheim sales stood out with 8% growth, while BOGS and Stacy Adams declined.
