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Dec 31, 2024
Weyco Q4 2024 Earnings Report
Weyco reported stable Q4 2024 revenue, with a 17% increase in net earnings and growth in wholesale and retail segments.
Key Takeaways
Weyco reported Q4 2024 revenue of $80.5 million, remaining flat compared to the prior year. Net earnings increased by 17% to $10.0 million, driven by improved cost efficiencies and lower operating expenses. The wholesale segment grew 1% to $60.4 million, with strong sales in Florsheim and Nunn Bush. However, a decline in BOGS and Stacy Adams sales offset some of the gains. Gross margin fell to 47.9% from 50.3% in Q4 2023.
Q4 2024 revenue remained flat at $80.5 million.
Net earnings rose 17% to $10.0 million from $8.5 million in Q4 2023.
Wholesale revenue increased by 1% to $60.4 million, driven by Florsheim and Nunn Bush sales.
Gross margin declined to 47.9% from 50.3% in Q4 2023.
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
Weyco expects to focus on long-term growth and profitability despite macroeconomic challenges, aiming to offset cost increases from new tariffs through supplier negotiations and pricing adjustments.
Positive Outlook
- Strong balance sheet provides stability for 2025.
- Florsheim and Nunn Bush brands expected to continue growth.
- Plans to adjust pricing to mitigate impact of new tariffs.
- Stable earnings performance across segments.
- Continued focus on cost efficiencies and margin improvements.
Challenges Ahead
- Macroeconomic and geopolitical uncertainties may impact demand.
- New tariffs on China-sourced goods could increase costs.
- Declining sales in BOGS and Stacy Adams brands pose challenges.
- Retail segment faces higher advertising and freight expenses.
- Competition in the footwear industry remains intense.
Revenue & Expenses
Visualization of income flow from segment revenue to net income