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Sep 30, 2023
Weyco Q3 2023 Earnings Report
Reported a decrease in net sales but an increase in consolidated gross earnings compared to the previous year's record third quarter.
Key Takeaways
Weyco Group reported a decrease in net sales by 13% to $84.2 million compared to the record third quarter in 2022. However, consolidated gross earnings increased to 43.0% of net sales. Quarterly net earnings totaled $9.3 million, or $0.98 per diluted share, compared to $10.8 million, or $1.12 per diluted share, last year.
Consolidated net sales decreased by 13% to $84.2 million.
Consolidated gross earnings increased to 43.0% of net sales.
Retail net sales increased by 6% to a record $7.6 million.
The company paid off its debt and maintains strong cash flows.
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's strong financial position enables it to withstand changes in the retail environment and provides flexibility to allocate capital to support future growth initiatives.
Revenue & Expenses
Visualization of income flow from segment revenue to net income