Footwear business Weyco Group posted a 22% increase in underlying net profit as sales in North America and overseas increased.
The company’s North American wholesale revenues rose 8.9% to $47.5 million in the three months to June 30, thanks to higher sales for the company’s Nunn Bush and Florsheim brands.
North American retail revenues fell 3.7% to $5.4 million as Weyco closed a number of stores, while same store sales were up 6%.
Other net sales – mainly Florsheim Australia and Florsheim Europe – increased 10% to $12.2 million.
“We are pleased with our solid growth in both sales and operating earnings this quarter,” said Thomas Florsheim, Jr, chairman and CEO.
“While the current retail market remains unpredictable, we feel our overall business is well positioned going into the second half of the year.”
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