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Jun 30, 2021
Weyco Q2 2021 Earnings Report
Weyco Group's financial performance rebounded in Q2 2021, with sales and earnings recovering to near or above pre-pandemic levels.
Key Takeaways
Weyco Group reported a strong recovery in Q2 2021, with net sales reaching $57.6 million compared to $16.6 million in Q2 2020. Operating earnings were $4.5 million, a significant improvement from the $13.0 million operating losses in the same period last year. Net earnings rose to $3.8 million, or $0.39 per diluted share, compared to a net loss of $8.9 million, or $0.91 per diluted share, in Q2 2020.
Net sales for Q2 2021 reached $57.6 million, nearing pre-pandemic levels and demonstrating a strong recovery.
Operating earnings rebounded to $4.5 million, a significant improvement compared to the operating losses of $13.0 million in Q2 2020.
The North American wholesale segment experienced sales growth across all brands, with sales reaching $41.9 million.
The North American retail segment saw a 73% increase in same-store sales, driven by e-commerce growth and higher brick-and-mortar sales.
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 is excited about the improved trajectory, but the pandemic continues to impact the business to varying degrees. They are looking forward to integrating Forsake into their portfolio and are excited about the growth potential of this brand, particularly through the e-commerce channel.
Revenue & Expenses
Visualization of income flow from segment revenue to net income