Weyco Q3 2020 Earnings Report
Key Takeaways
Weyco Group's top-line was challenged by the effects of the COVID-19 pandemic, but they were encouraged by the recent pick-up in orders in their wholesale business. E-commerce websites performed strongly, and measures were taken to right-size the cost structure, which allowed them to return to profitability in their wholesale business in the third quarter.
North American wholesale net sales were $44.0 million, down from $67.8 million in the third quarter of 2019.
BOGS third quarter net sales rose 6% compared to last year.
North American retail net sales were $4.4 million, down from $5.2 million in the third quarter of 2019, partly due to closing three unprofitable retail stores.
Other net sales, including Florsheim Australia and Florsheim Europe, were $4.8 million, down from $9.5 million in the third quarter of 2019.
Weyco
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Weyco Revenue by Segment
Forward Guidance
The company looks forward to building upon the momentum as they move into the final months of the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income