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Weyco Group Inc. (NASDAQ: WEYS) is a distinguished name in the footwear industry, renowned for designing, manufacturing, and marketing quality and innovative footwear for men, women, and children. The company operates under a diverse portfolio of well-recognized brand names including Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake. With a strong presence in leading footwear, department, and specialty stores worldwide, Weyco Group has established itself as a key player in the global market.
Weyco Group organizes its business into two primary segments: the North American wholesale and the North American retail segments. The wholesale segment, which generates the majority of the company's revenue, involves selling products to footwear, department, and specialty stores, as well as e-commerce retailers. The retail segment manages the company's owned retail stores and its e-commerce operations. Weyco Group also operates Florsheim concept stores in the United States and Australia, in addition to various international markets.
The company has a significant operational footprint in the United States, which is a key revenue generator, as well as in Canada, Asia, South Africa, and Australia. Weyco Group’s dedication to quality and innovation is evident in its continuous efforts to enhance its product lines and expand its market reach.
Recent achievements highlight Weyco Group's commitment to growth and development. On July 13, 2023, the company announced its second-quarter 2023 financial results, showcasing strong performance and strategic initiatives. Thomas W. Florsheim, Jr., Chairman and CEO, hosted a conference call to discuss these results in detail. Further financial updates were provided on October 12, 2023, and January 22, 2024, reflecting the company's transparency and proactive communication with its stakeholders.
Weyco Group's products can be found not only in physical stores but also on major e-commerce websites, ensuring accessibility and convenience for customers worldwide. The company's strategic partnerships and innovative marketing strategies continue to strengthen its market position and brand appeal.
For investors and stakeholders, Weyco Group offers a solid financial foundation coupled with a forward-thinking approach to business development. The company's consistent performance, coupled with its dedication to quality and customer satisfaction, makes it a reliable and appealing option in the stock market.
Weyco Group (NASDAQ: WEYS) has announced a special one-time cash dividend of $2.00 per share, totaling approximately $19.0 million. The dividend will be paid on January 2, 2025, to shareholders of record as of November 18, 2024. The company attributes this decision to strong financial performance resulting in excess cash beyond operational needs, capital expenditures, and corporate obligations. CEO Thomas W. Florsheim, Jr. stated that the company maintains a strong balance sheet and liquidity to support organic growth, business investments, and potential strategic opportunities or share repurchases.
Weyco Group reported Q3 2024 financial results with net sales of $74.3 million, down 12% from Q3 2023. Net earnings decreased 14% to $8.1 million, with diluted EPS of $0.84. The wholesale segment saw a 12% decline to $61.1 million, primarily due to lower sales of Nunn Bush (-20%), Stacy Adams (-17%), and BOGS (-18%) brands. The retail segment decreased 5% to $7.2 million. The Board declared a regular quarterly dividend of $0.26 per share and a special one-time dividend of $2.00 per share, both payable January 2, 2025.
WEYCO Group, Inc. (NASDAQ: WEYS), a global footwear marketer, has announced its plans to release third quarter 2024 financial results after market close on November 5, 2024. The company will host a conference call on November 6, 2024, at 11:00 a.m. Eastern Time, led by Chairman and CEO Thomas W. Florsheim, Jr., to discuss the results in detail.
Participants must pre-register online for the call using the provided link. A replay will be available for one year after the call via webcast. WEYCO Group designs and markets footwear for men, women, and children under brands including Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake. Their products are sold in various retail channels and e-commerce platforms worldwide. The company also operates Florsheim concept stores in the US, Australia, and other international markets.
Weyco Group reported Q2 2024 financial results with net sales of $63.9 million, down 5% from Q2 2023. Despite the sales decline, the company achieved record net earnings of $5.6 million, up 15% year-over-year. Diluted earnings per share increased to $0.59 from $0.50 in Q2 2023.
The North American Wholesale segment saw mixed results, with Florsheim and Nunn Bush sales up 3% and 8% respectively, while Stacy Adams and BOGS experienced declines. The Retail segment's sales remained flat at $7.6 million. Florsheim Australia's net sales decreased by 23% due to the closure of Asia Pacific operations and fewer retail stores.
The company's gross earnings improved to 43.9% of net sales, up from 43.3% in Q2 2023. Weyco Group's Board of Directors declared a cash dividend of $0.26 per share, payable on September 30, 2024.
WEYCO Group, a global marketer of footwear, will release its second quarter 2024 financial results after the market closes on August 6, 2024. CEO Thomas W. Florsheim, Jr. will host a conference call on August 7, 2024, at 11:00 a.m. Eastern Time to discuss the results. Participants need to pre-register online to join the call. A replay will be available for one year, starting two hours post-call. The company's product portfolio includes brands like Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake. These products are sold in leading stores and online globally, with Florsheim concept stores in the U.S., Australia, and other international markets.
Weyco Group, Inc. reported their first quarter financial results for 2024, with consolidated net sales at $71.6 million, a 17% decrease from the previous year. Earnings from operations were $8.3 million, down 21% from the record first quarter in 2023. The North American Wholesale segment experienced a 20% decrease in sales, with the BOGS brand down 48%. Retail segment sales were up 10%, reaching a first-quarter record of $9.8 million. Florsheim Australia saw a 26% decrease in net sales due to challenges in Asia and a loss of a wholesale customer. Despite lower sales, the company remains optimistic about the future demand and increased their quarterly dividend by 4%.
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