Weyco brands perform well in Q3
Men’s footwear manufacturer Weyco Group Inc. - whose key brands are Florsheim, Stacy Adams and Nunn Bush – has announced positive results for the third quarter of the financial year, with all of the key brands performing well.
Sales for wholesale division increased by 14% to reach $49.3 million compared with $43.1 million in the same period last year. Florsheim reported increased sales of 24%, Nunn Bush sales rose 5% and Stacy Adams recorded a 19% increase in wholesale sales. Retail sales did, however, drop off slightly from $5.9 million to $5.6 million - a decrease of 4% compared with the same period in 2003.
Licensing revenue increased by 11% to $881,000, up from $796,000. This increase has been attributed at least in part to the recent licensing agreement with Aquarius Ltd to manufacture and market Florsheim belts and small leather goods in the
“We are extremely pleased with our results for the third quarter in which all of our major brands experienced solid increases, “said Tom Florsheim Jnr, CEO of Weyco.
