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Mar 31, 2021
Weyco Q1 2021 Earnings Report
Reported sales and earnings for the first quarter of 2021.
Key Takeaways
Weyco Group reported a decrease in net sales but an increase in earnings from operations and net earnings for the first quarter of 2021. Sales were impacted by the ongoing pandemic, but there were improvements in the North American Retail Segment and overseas.
Net sales were $46.9 million, compared to $63.6 million in the first quarter of 2020.
Earnings from operations increased to $1.6 million from $1.3 million in the first quarter of 2020.
Net earnings were $1.3 million, compared to $1.2 million in the first quarter of last year.
Diluted earnings per share were $0.14, compared to $0.12 in the first quarter of 2020.
Weyco
Weyco
Weyco Revenue by Segment
Revenue by Segment
North American Wholesale Revenue
CapyFin.comNorth American Retail Revenue
CapyFin.comFlorsheim Australia Revenue
CapyFin.com Forward Guidance
The company anticipates building on the momentum as they move throughout the year.
Positive Outlook
- Orders accelerated within the wholesale business late in the quarter.
- Retail performance was strong due to the growth in e-commerce.
- Resurgence in sales overseas, particularly at Florsheim Australia.
Challenges Ahead
- Sales of legacy brands remained depressed in the first quarter as a result of the ongoing pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income