>>
Home / Knowledge / News / Fashion / Branded footwear marketer Weyco same store sales grow 2.7%

Branded footwear marketer Weyco same store sales grow 2.7%

02
Aug '05
Men's dress & footwear marketer Weyco Group Inc announced financial results for the quarter ended June 30, 2005.

Net sales totaled $44.7 million compared with $49.8 million in 2004, a decrease of 10%. Net earnings were $3.0 million, down from $4.0 million in 2004. Diluted earnings per share decreased to $.25 per diluted share in 2005 from $.34 per diluted share in 2004.

Sales in the wholesale division, which include wholesale sales and licensing revenues, were $38.2 million compared with $43.3 million in 2004. Wholesale sales were down 12% from $42.3 million in 2004 to $37.2 million in 2005. Licensing revenues were $1.0 million in both 2005 and 2004.

Sales of the Company's Florsheim, Stacy Adams and Nunn Bush brands were down 21%, 12% and 5%, respectively, for the quarter. Florsheim sales continued to be affected by the Company's decision to discontinue the FLS product line in the U.S. Sales of FLS were down $1.8 million or 64% for the quarter. Sales of the other Florsheim products were down 9% for the quarter.

The Company estimates that the effect on total Florsheim sales resulting from the discontinuance of FLS will be between $6 - 7 million for 2005. Retail sales were flat at $6.5 million. Same store sales were up 2.7%. Operating earnings were $4.6 million, down 28% from $6.4 million in 2004. Operating earnings as a percent of net sales decreased to 10.3% from 12.8% in 2004.

"The wholesale business continues to be challenging," stated Tom Florsheim, Jr., Chairman and CEO of Weyco Group, Inc. "While some of their volume loss was expected as a result of discontinuing their FLS business, their overall wholesale business has been impacted by cyclical fashion trends toward more contemporary and casual footwear which has negatively affected their more basic Nunn Bush and Florsheim dress and dress casual business. In addition, we are experiencing more competition from private label store brands which currently are absorbing a greater share of available retail dollars. While we are confident that we will be able to address these challenges, we anticipate that their wholesale business will remain under pressure for the balance of 2005."


Must ReadView All

Pic: Shutterstock

Textiles | On 21st Jan 2022

UK CMA to commence compliance review of sustainability claims

To help businesses understand how to communicate their green...

Pic: Dreamstime.com

Apparel/Garments | On 21st Jan 2022

Bangladeshi garment, accessory makers form joint panel to boost export

The Bangladesh Garment Manufacturers and Exporters Association, the...

Pic: Shutterstock

Textiles | On 21st Jan 2022

China to optimise energy production, supply, storage, sales

As the global energy market faces complicated situations, China’s top ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Liquidity is a primary issue in Indian context

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Andrea Pelissero,

Andrea Pelissero

Located near Milan, Italy, and with 50 years of experience in the textile...

Juan Pares Boj,

Juan Pares Boj

Textil Santanderina is a cutting-edge textile company located in...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Seth Casden, Hologenix

Seth Casden
Hologenix

Hologenix is a material sciences company dedicated to developing products...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Rocky Star, Label - Rocky Star

Rocky Star
Label - Rocky Star

<b>Rocky Star,</b> an Indian designer known for his inspiration from the...

Bav Tailor, Label Bav Tailor

Bav Tailor
Label Bav Tailor

Born in London and Indian by origin, <b>Bav Tailor </b>is the Founder of...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

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

ESTEEMED CLIENTS

NITI Aayog
Chico’ FAS
MAS Active / MAS Kreeda / MAS Bodyline
SYNERGIES HONG KONG LIMITED
Lifestyle
Gloria Jeans
SHAHI Exports Pvt Ltd
Babyshop
OVS Hong Kong Sourcing Ltd.
IDH – The Sustainable Trade Initiative
Tommy Hilfiger
Sportswear Company Spa
Asos
International Textile Manufacturers Federation
Boardriders Asia Sourcing Limited
Rayonese Textile Inc., Division de Culp Inc.
Helly Hansen Far East Ltd
Permoda(Koaj/Armi/Pronto/Bkul)
Walmart
Maceton Limited
Lenzing Aktiengesellschaft
Page Industries Limited (Bangalore)
H;&M Hennes ;& Mauritz (Far East) Ltd
Hela Clothing Pvt Ltd
Seasalt Limited
Chori Company Limited
Decathlon
Gokaldas Exports Limited
Midas Clothing Limited
Reiter India Private Limited
Phong Phu international JSC (PPJ)
Landmark Group
The LYCRA Company Singapore  Pte. Ltd
Gap International Sourcing Limited
Aramark Uniform ;& Career Apparel, LLC
Splash
Tory Burch Hong Kong Ltd
Calvin Klein
Huntsman (Singapore) Pte Ltd
Alison Hayes Romania
TESCO INTERNATIONAL SOURCING LIMITED
J ;& P Coats
Aquarelle Clothing Limited
Hirdaramani International Export Private Limited
Under Armour Global Sourcing Ltd
Sateri (Jiujiang) Fiber Co.,Ltd
Green Fibre
Abit
Desigual - ABASIC, S.A.
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Vianney Textil Hogar S.A. De C.V.
Gatsby Africa
T.T. Limited
Varner AS Retail
LC Waikiki
Eastman Chemical Company
Lisa S.P.A.
KIABI
G-Star Raw C.V.
Cat Tuong Real Estate Group Joint Stock Company
Puma
Grasim Industries Limited
Sainsbury's Argos Asia Limited
Rosset ;& Cia Limited
Brandix Lanka Limited
Guess Europe Sagl,
Benetton Group
BIMBA ;& LOLA SL
Target Corporation (MN)
KAS Direct Sourcing
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Lululemon Athletica Inc
Amazon China
Recron Polyester from Reliance Industries Limited
Truetzschler India Private Limited
Etam Group Strategy Hong Kong Limited
IKEA of Sweden AB
John Varvatos
Restoque S.A.
Arvind Limited
C;&A Sourcing International Ltd
Vardhman Textile Ltd
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Alix Partners
BIANCA
Bluestem Global Sourcing Limited
Sportmaster Ltd.
Groz-Beckert East Asia LLP
THE BOMBAY DYEING ;& MFG.CO. LTD
Esprit Europe Services GmbH

January 2022

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


Advanced Search