Weyco Group, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 02, 2023 at 04:05 pm EDT
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Weyco Group, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was USD 86.29 million compared to USD 81.36 million a year ago. Net income was USD 7.45 million compared to USD 4.05 million a year ago.
Basic earnings per share from continuing operations was USD 0.79 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.78 compared to USD 0.42 a year ago.
Weyco Group, Inc. designs, markets, and distributes footwear principally for men. The Company is also focused on women and children, under a portfolio of brand names including: Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake. The Company operates through two segments: North American wholesale (Wholesale) and North American retail (Retail). In the Wholesale segment, its products are sold to footwear, department, and specialty stores, as well as e-commerce retailers, primarily in the United States and Canada. It also has licensing agreements with third parties who sell its branded apparel, accessories, and specialty footwear in the United States, as well as its footwear in Mexico and certain markets overseas. The Retail segment consists of e-commerce businesses and four brick-and-mortar retail stores in the United States. Retail sales are made directly to consumers on its Websites, or by its employees in its stores.
WEYCO GROUP, INC. 
