Weyco Reports First Quarter Sales and Earnings

About this update from Weyco Group, Inc.

[{"type":"text","content":"MILWAUKEE, May 06, 2025 (GLOBE NEWSWIRE) -- Weyco Group, Inc. (NASDAQ: WEYS) (“we,” “our,” “us” and the “Company”) today announced financial results for the quarter ended March 31, 2025.","length":186,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Overview","length":27,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net sales: $68.0 million (down 5% compared to $71.6 million in Q1 2024)","length":71,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross earnings: 44.6% of net sales (compared to 44.7% of net sales in Q1 2024)","length":78,"tagName":"p"}]},{"val":[{"type":"text","content":"Earnings from operations: $7.0 million (down 15% compared to $8.3 million in Q1 2024)","length":85,"tagName":"p"}]},{"val":[{"type":"text","content":"Net earnings: $5.5 million (down 17% compared to $6.7 million in Q1 2024)","length":73,"tagName":"p"}]},{"val":[{"type":"text","content":"Diluted earnings per share: $0.57 (down from $0.69 in Q1 2024)","length":62,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":369,"olType":false},{"type":"text","content":"North American Wholesale Segment Wholesale net sales were $54.3 million for the quarter, down 4% compared to $56.2 million in the first quarter of 2024. Florsheim's first quarter sales were up 7% due largely to new product launches, but this gain was more than offset by lower sales of our other major brands. Stacy Adams and Nunn Bush sales were down 7% and 16%, respectively, for the quarter, reflecting the current softness in non-athletic footwear at retail, as consumers were cautious with discretionary spending. BOGS sales were down 5%, resulting from lower retailer demand.","length":586,"tagName":"p"},{"type":"text","content":"Wholesale gross earnings as a percent of net sales were 39.4% and 39.6% in the first quarters of 2025 and 2024, respectively. Wholesale selling and administrative expenses totaled $14.8 million for the quarter and $14.9 million last year. As a percent of net sales, wholesale selling and administrative expenses were flat at 27% in both 2025 and 2024. Wholesale operating earnings decreased 10% to $6.6 million for the quarter, from $7.4 million in 2024, as a result of lower sales.","length":482,"tagName":"p"},{"type":"text","content":"North American Retail Segment Net sales in our retail segment, which were generated ...

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