Footwear company Weyco's Q3 net sales decline on fall in volumes

Reuters11-05

Footwear company Weyco's Q3 net sales decline on fall in volumes

Overview

Weyco Group Inc Q3 net sales fall 2% yr/yr, impacted by pricing issues with a large customer
Net earnings for Q3 decline 18% yr/yr, affected by incremental tariffs
Company declares special cash dividend of $2.00 per share

Outlook

Company cites uncertainty in U.S. trade and tariff policies affecting future margins
Company implementing strategies to mitigate tariff impacts

Result Drivers

PRICING ISSUES - Sales volumes declined due to a large customer's failure to adopt new pricing, leading to order cancellations
TARIFF IMPACT - Incremental tariffs on Chinese goods eroded margins despite price increases
BRAND PERFORMANCE - Florsheim sales increased 8% due to favorable pricing, while BOGS sales fell 17% due to reduced shipments

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Sales		$73.10 mln
Q3 Net Income		$6.60 mln
Q3 Operating income		$8.10 mln

Press Release: ID:nGNX1TxjW5

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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