Home / Knowledge / News / Apparel/Garments / Weyco Group Q2 FY20 sales slip to $17 mn

Weyco Group Q2 FY20 sales slip to $17 mn

21
Sep '20
Pic: Shutterstock
Pic: Shutterstock
Weyco Group Inc, a designer of quality and innovative footwear, reported sharp decline in its net sales to $16.7 million during the second quarter (Q2) FY20 ended on June 30, 2020 compared to sales of $60.5 million in the same period previous fiscal. Company incurred a net loss of $8.9 million compared to net earnings of $1.5 million in Q2 FY19.
 
Gross earnings for the reported period slipped to $7.4 million (Q2 FY19: $24.4 million). Selling and administrative expenses were $20.5 million ($22.5 million). For the second quarter of FY20, company reported loss from the operations of $13.0 million compared to earnings from operations of $1.8 million.
 
Sales in North American wholesale segment dropped to $9.3 million ($46.1 million) during Q2 FY20. While, sales in the North American retail segment, which include sales from company’s Florsheim retail stores and its e-commerce businesses in US, were $3.6 million ($5.4 million).
 
Other sales, which include the wholesale and retail net sales of Florsheim Australia and Florsheim Europe, were down to $3.7 million ($9.0 million) due to lower sales at both resulting from retail shutdowns.

Fibre2Fashion News Desk (JL)


Must ReadView All

Pic: Shutterstock

Textiles | On 15th Jan 2021

US detains cotton products from China's XUAR from Jan 13

US Customs and Border Protection (CBP) recently announced it will...

Pic: Christopher & Banks Corporation

Retail | On 15th Jan 2021

CBKC in US voluntarily files for bankruptcy protection

US specialty women's apparel retailer Christopher & Banks Corporation ...

Pic: Shutterstock

Textiles | On 15th Jan 2021

Hanoi to allocate more than $41 million to support SMEs

Hanoi will allocate VND957 billion (more than $41 million) to assist...

Interviews View All

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Top executives, Textile industry

Top executives
Textile industry

The new deal is better than NAFTA for the US textile industry

Zillur Rehman,

Zillur Rehman

Cornerstone Systems offers consultancy to businesses for enhancing their...

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Valter De Carli,

Valter De Carli

Savio Macchine Tessili is at the head of a group that holds a know-how of...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


January 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search