Home / Knowledge / News / Fashion / Florsheim's sales rise at Weyco
Florsheim's sales rise at Weyco
26
Aug '08
Weyco Group Inc announced financial results for the quarter ended June 30, 2008. Net sales for the second quarter were $53.0 million, up 9.6% from $48.4 million in 2007.

Net earnings and diluted earnings per share for the quarter were level with last year at $4.1 million and $.34, respectively.

Sales in the wholesale division, which include wholesale sales and licensing revenues, were $45.7 million, compared with $40.7 million in 2007. Wholesale sales were $44.7 million in 2008, up from $39.9 million in 2007.

Licensing revenues in 2008 were $969,000, compared with $835,000 in 2007. Wholesale net sales of the Company's Stacy Adams, Nunn Bush and Florsheim brands were up 35%, 3% and 6%, respectively.

The growth in Stacy Adams' sales was driven by an increase in sales of contemporary footwear to national accounts. Nunn Bush products continue their solid performance at retail, and the recent introduction of the new Dynamic Comfort slip resistant line helped increase overall sales.

Florsheim's sales increase was primarily due to increased shipments of its Comfortech shoes. Retail sales for the second quarter were $7.4 million, down 4% from $7.7 million in 2007. Same store sales were down 6% for the quarter.

The Company had four additional stores in the second quarter of this year as compared with the same period last year. Operating earnings for the second quarter were $5.9 million in both 2008 and 2007.

This resulted from an increase in operating earnings of approximately $900,000 from the Company's wholesale and licensing businesses, offset by a decrease in earnings in the retail division.

“While our retail division struggled this quarter, our wholesale business performed well, and we were pleased with the sales increases in each of our brands, especially in light of the overall challenging retail environment,” stated Thomas Florsheim Jr, Chairman and Chief Executive Officer.

Weyco Group Inc


Must ReadView All

China reportedly cancels trade talks with US, Liu He visit

Apparel/Garments | On 22nd Sep 2018

China reportedly cancels trade talks with US, Liu He visit

Washington is reportedly positive about arriving at a solution to its ...

AmCham Cambodia cautions US against possible sanctions

Apparel/Garments | On 22nd Sep 2018

AmCham Cambodia cautions US against possible sanctions

In a letter to US lawmakers, the American Chamber of Commerce...

Courtesy: ycloset

Apparel/Garments | On 22nd Sep 2018

Alibaba invests in clothes sharing platform Ycloset

Chinese garment sharing platform YCloset has completed an undisclosed ...

Interviews View All

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

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

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah,

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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


September 2018

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

news category


Related Categories:

Advanced Search