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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, Inc. (NASDAQ: WEYS) has acquired substantially all assets of Forsake, Inc., a distributor of outdoor footwear, for approximately $2.5 million, with contingent payments of about $1.75 million based on performance. This acquisition aims to enhance Weyco's presence in the outdoor footwear market. Forsake will operate under Weyco's outdoor division, joining BOGS, and will continue to be led by its co-founders. The integration is expected to benefit from Weyco's established infrastructure, promoting growth in a competitive segment of the outdoor market.
Weyco Group, Inc. (NASDAQ: WEYS) reported financial results for Q1 2021, with net sales of $46.9 million, down from $63.6 million in Q1 2020. Net earnings increased to $1.3 million, up from $1.2 million, with diluted earnings per share at $0.14 compared to $0.12 last year. The North American Wholesale Segment saw net sales of $33.4 million, a decrease from $52.7 million in the prior year, impacted by the pandemic. Conversely, BOGS brand sales rose 32%. The company declared a cash dividend of $0.24 per share and will hold a conference call on May 5, 2021.
WEYCO Group, Inc. (NASDAQ: WEYS) is set to announce its first quarter 2021 financial results on May 4, 2021, following the market close. The company’s CEO Thomas W. Florsheim, Jr. will host a conference call on May 5, 2021, at 11:00 a.m. ET to discuss these results in detail. Investors wishing to participate must pre-register online.
WEYCO specializes in designing and marketing quality footwear, including brands such as Florsheim and Nunn Bush, available in various retail channels and e-commerce platforms.
Weyco Group, Inc. (NASDAQ:WEYS) reported Q4 2020 net sales of $62 million, down from $86.9 million in Q4 2019. Earnings decreased to $5.1 million or $0.52 per diluted share, compared to $8.8 million or $0.90 per share a year prior. The North American wholesale segment saw a decline in sales to $46.2 million, with a notable impact from the pandemic. However, e-commerce sales rose by 15%. For the full year, net sales were $195.4 million, down from $304 million in 2019, leading to a net loss of $8.5 million. On a positive note, the company declared a dividend of $0.24 per share.
WEYCO Group, Inc. (NASDAQ: WEYS) will announce its fourth quarter and full year 2020 financial results on March 9, 2021, after market close. CEO Thomas W. Florsheim, Jr. will host a conference call on March 10, 2021, at 11:00 a.m. ET to discuss the results. Interested participants must pre-register online, and a replay of the call will be available for one year. WEYCO markets footwear brands including Florsheim, Nunn Bush, and BOGS globally, available in stores and online.
Weyco Group, Inc. (NASDAQ: WEYS) has accelerated the payment date for its regular quarterly dividend of $0.24 per share, moving it from January 4, 2021 to December 31, 2020. The record date remains November 30, 2020. This decision reflects the company's commitment to returning value to shareholders and may enhance investor confidence. Weyco Group specializes in designing and marketing quality footwear for men, women, and children under brands like Florsheim and Nunn Bush.
Weyco Group, Inc. (NASDAQ: WEYS) reported a net sales decline to $53.2 million for Q3 2020, down from $82.5 million in Q3 2019. The company recorded a net loss of $5.9 million or $0.60 per diluted share, contrasting with $6.6 million earnings in the previous year. The wholesale segment's sales fell to $44.0 million, down significantly from $67.8 million. Notably, while BOGS sales increased by 6%, major brands like Florsheim saw sales decrease by up to 58%. Weyco's Board declared a $0.24 cash dividend per share, payable on January 4, 2021.
WEYCO Group, Inc. (NASDAQ: WEYS) will announce its third quarter 2020 financial results on November 3, 2020, after market closure. A conference call will be held on November 4, 2020, at 11:00 a.m. ET, led by Chairman and CEO Thomas W. Florsheim, Jr. Participants must pre-register online to access the call. WEYCO specializes in footwear for men, women, and children, with brands like Florsheim and Nunn Bush. The products are sold in various retail and e-commerce outlets globally.
Weyco Group, Inc. reported a significant downturn in its Q2 2020 financial results, primarily due to the COVID-19 pandemic. Net sales fell to $16.7 million, down from $60.5 million in Q2 2019. Operating losses reached $13.0 million, a sharp decline from $1.9 million in the same period last year. The company's net loss was $8.9 million, contrasting with a net profit of $1.5 million in Q2 2019. Despite these challenges, the company declared a $0.24 per share dividend, emphasizing strong liquidity and cost management as priorities.
WEYCO Group, Inc. (NASDAQ: WEYS) will release its second quarter 2020 financial results on August 4, 2020, post-market. CEO Thomas W. Florsheim, Jr. will lead a conference call the next day at 11:00 a.m. ET to discuss the details. Interested participants must pre-register online to join the call. WEYCO Group designs and markets footwear for men, women, and children under brands like Florsheim and Nunn Bush, with products available in stores and e-commerce platforms globally. Further information can be found on their investor relations website.
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