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Q3 sales flat at branded footwear marketer Weyco
31 Oct '07
3 min read
Approximately half of the decrease in Nunn Bush sales this quarter was due to soft sales in Canada, with the other part due to the difficult retail environment in the US.
Retail sales were up 2.3% for the quarter to $6,852,000, from $6,697,000 in 2006, with same store sales flat. The Company now operates 37 retail stores in the United States as compared with 34 in 2006.
Operating earnings were $7,919,000, as compared with $7,855,000 in 2006. Operating earnings as a percent of net sales were 13.6% in 2007, as compared with 14.0% in 2006.
"We feel our flat third quarter sales performance reflected the overall challenges of the current retail environment for men's footwear," stated Tom Florsheim, Jr. Chairman and CEO of Weyco Group.
Weyco Group will host a conference call on Wednesday, October 31, 2007, at 11:00 a.m. Eastern Time to discuss the third quarter financial results in more detail.
Retail sales were up 2.3% for the quarter to $6,852,000, from $6,697,000 in 2006, with same store sales flat. The Company now operates 37 retail stores in the United States as compared with 34 in 2006.
Operating earnings were $7,919,000, as compared with $7,855,000 in 2006. Operating earnings as a percent of net sales were 13.6% in 2007, as compared with 14.0% in 2006.
"We feel our flat third quarter sales performance reflected the overall challenges of the current retail environment for men's footwear," stated Tom Florsheim, Jr. Chairman and CEO of Weyco Group.
Weyco Group will host a conference call on Wednesday, October 31, 2007, at 11:00 a.m. Eastern Time to discuss the third quarter financial results in more detail.
Weyco Group Inc
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