Financial Performance - Net sales for Q4 2024 were $80.5 million, flat compared to Q4 2023[11] - Gross earnings as a percentage of net sales decreased to 47.9% in Q4 2024 from 50.3% in Q4 2023[11] - Net earnings for Q4 2024 increased by 17% to $10.0 million compared to $8.5 million in Q4 2023[11] - North American wholesale segment net sales were $227.9 million for 2024, down 9% from $250.4 million in 2023[13] - Retail segment net sales reached a record $38.7 million in 2024, up 2% from $38.0 million in 2023[15] - Florsheim Australia net sales totaled $23.6 million in 2024, down 20% from $29.6 million in 2023[17] - Wholesale operating earnings for 2024 were $31.5 million, down 5% from $33.3 million in 2023[14] - Florsheim's sales increased by 2% for the year, contrasting with declines in other brands[13] Earnings and Dividends - The company declared a quarterly cash dividend of $0.26 per share, payable on March 31, 2025[22] - Cash dividends paid increased to $9,688 thousand in 2024 from $9,286 thousand in 2023, representing an increase of 4.3%[29] Assets and Liabilities - Total assets increased to $324,086 thousand in 2024, up from $309,342 thousand in 2023, representing a growth of 4.8%[28] - Total current liabilities rose significantly to $47,263 thousand in 2024, compared to $29,622 thousand in 2023, marking a substantial increase of 59.5%[28] - The company experienced a decrease in accounts receivable, net, to $37,464 thousand in 2024 from $39,275 thousand in 2023, a decline of 4.6%[28] - Total equity increased to $245,585 thousand in 2024, up from $244,493 thousand in 2023, showing a growth of 0.4%[28] Cash Flow - The company reported a net cash provided by operating activities of $16,150 thousand in 2024, a decrease of 83.7% from $98,631 thousand in 2023[29] - Cash and cash equivalents at the end of 2024 were $70,963 thousand, compared to $69,312 thousand at the end of 2023, reflecting an increase of 2.4%[29] - The company reported a net increase in cash and cash equivalents of $1,651 thousand in 2024, down from $52,436 thousand in 2023, indicating a significant decline of 96.9%[29] Inventory - The company’s inventories decreased slightly to $74,012 thousand in 2024 from $74,890 thousand in 2023, a reduction of 1.2%[28]

Core Insights - Weyco Group, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024, highlighting mixed performance across its segments and brands [1][11]. Fourth Quarter 2024 Overview - North American wholesale segment net sales reached $60.4 million, a 1% increase from $59.6 million in Q4 2023, driven by a 22% increase in Florsheim sales, while BOGS and Stacy Adams saw declines of 17% and 8% respectively [3][4]. - Retail segment net sales were $14.1 million, up 1% from $13.9 million in Q4 2023, primarily due to increased direct-to-consumer sales of BOGS and Florsheim [5][6]. - Florsheim Australia reported net sales of $6.0 million, down 15% from $7.2 million in Q4 2023, attributed to the closure of Asia Pacific operations [8][9]. Full Year 2024 Overview - Total net sales for 2024 were $290.3 million, a 9% decrease from $318.0 million in 2023, with wholesale net sales down 9% to $227.9 million [12][22]. - Retail segment achieved record net sales of $38.7 million, a 2% increase from $38.0 million in 2023, driven by higher direct-to-consumer sales [15][16]. - Florsheim Australia net sales totaled $23.6 million, down 20% from $29.6 million in 2023, with a 10% decline in sales in Australia due to fewer operating retail stores [17][18]. Earnings and Expenses - Gross earnings as a percentage of net sales were 45.3% for 2024, up from 44.9% in 2023, while earnings from operations decreased by 11% to $36.6 million [22]. - Retail operating earnings fell 21% to $5.3 million in 2024, primarily due to increased selling and administrative expenses [16]. - Interest income increased to $3.7 million in 2024 from $1.1 million in 2023, reflecting higher cash balances [19]. Future Outlook - The company faces increased costs due to new tariffs imposed on goods sourced from China and is negotiating price reductions with suppliers to mitigate these impacts [20]. - The CEO emphasized the benefits of a diversified brand portfolio and expressed confidence in the company's position for future growth despite macroeconomic uncertainties [21][23].

Core Viewpoint - Weyco Group, Inc. is set to announce its fourth quarter and full year 2024 financial results on March 4, 2025, followed by a conference call on March 5, 2025, to discuss these results in detail [1]. Company Overview - Weyco Group, Inc. designs and markets quality and innovative footwear primarily for men, but also for women and children, under well-recognized brand names such as Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake [4]. - The company's products are available in leading footwear, department, and specialty stores, as well as on e-commerce platforms globally [4]. - Weyco Group operates Florsheim concept stores in the United States, Australia, and various international markets [4].

Sales Performance - Consolidated net sales for Q3 2024 were $74.3 million, down 12% from $84.2 million in Q3 2023[49] - BOGS net sales decreased by 18% for the quarter, with e-commerce sales down 31% due to mild and dry weather conditions[41] - North American Wholesale segment net sales were $61.1 million, a 12% decline compared to $69.5 million in the same quarter last year[54] - Retail sales fell by 5% for the quarter, primarily driven by the decrease in BOGS e-commerce sales[47] - Year-to-date consolidated net sales for 2024 were $209.8 million, down 12% from $237.5 million in 2023[50] - Florsheim brand sales increased by 1% in Q3 2024, while Stacy Adams and Nunn Bush saw declines of 17% and 20%, respectively[43] - Florsheim Australia's net sales were $6.0 million in Q3 2024, down 15% from $7.1 million in Q3 2023, primarily due to the closure of Asia Pacific operations[65] Earnings and Expenses - Earnings from operations for Q3 2024 totaled $10.2 million, down 18% from $12.4 million in Q3 2023[49] - Wholesale operating earnings totaled $9.4 million for the quarter, down 16% from $11.3 million in the same quarter last year[58] - Retail selling and administrative expenses totaled $4.0 million in both Q3 2024 and Q3 2023, but as a percent of net sales, these expenses increased to 56% from 53%[62] Gross Earnings and Margins - Gross earnings as a percentage of net sales improved to 44.3% in Q3 2024 from 43.0% in Q3 2023, mainly due to higher gross margins in the Wholesale segment[49] - Retail gross earnings as a percent of net sales improved to 66.9% in Q3 2024 from 65.4% in Q3 2023[61] Cash and Investments - Cash and marketable securities totaled $81.8 million as of September 30, 2024, with no debt outstanding[51] - Interest income increased to $0.9 million in Q3 2024 from $0.3 million in Q3 2023, driven by higher cash balances[68] - Cash generated from operations was $17.3 million in the first nine months of 2024, a decrease from $62.9 million in the same period last year[71] - Dividends paid totaled $9.6 million in the first nine months of 2024, compared to $9.3 million in 2023[72] - Capital expenditures totaled $0.9 million in the first nine months of 2024, with an estimated total for the year between $1.0 million and $2.0 million[74] - The company has a maximum available borrowing limit of $40.0 million under the amended credit agreement, with no outstanding borrowings as of September 30, 2024[75] Strategic Focus - The company is focusing on reducing weather sensitivity in the BOGS business by expanding sales efforts in the Farm & Agriculture trade channel[42]

Group 1 - Weyco Group, Inc. (NASDAQ: WEYS) reported challenging Q3 2024 earnings but announced a one-time $2 dividend for shareholders of record as of November 18, 2024 [1] - The announcement of the dividend coincided with a post-election rally, which may influence investor sentiment [1] - The investment approach discussed focuses on operational aspects and long-term earnings potential rather than market-driven dynamics [1] Group 2 - The article emphasizes the importance of understanding competitive dynamics within industries for making informed investment decisions [1] - It highlights that most investment calls will be holds, indicating a cautious approach to buying opportunities [1] - The article aims to provide valuable information for future investors while maintaining a skeptical view of a bullish market [1]

Weyco Group, Inc. (NASDAQ:WEYS) Q3 2024 Earnings Conference Call November 6, 2024 11:00 AM ET Company Participants Judy Anderson - Chief Financial Officer Tom Florsheim - Chairman and Chief Executive Officer John Florsheim - President and Chief Operating Officer Conference Call Participants David Wright - Henry Investment Trust John Deysher - Pinnacle Operator Good day, and thank you for standing by. Welcome to Weyco Group, Incorporated Third Quarter 2024 Earnings Release Conference Call. At this time, all ...

For the third quarter of 2024, Weyco Group, Inc. (WEYS) reported earnings per share (EPS) of 84 cents, down from 98 cents in the same quarter last year, marking a decline of approximately 14%. Net sales for the quarter totaled $74.3 million, reflecting a 12% decrease from the $84.2 million recorded in the third quarter of 2023. This reduction in both revenues and earnings points to challenges in Weyco’s key markets, primarily driven by reduced consumer demand and unseasonably warm weather that impacted sale ...

Exhibit 99.1 WEYCO REPORTS THIRD QUARTER 2024 SALES AND EARNINGS; DECLARES SPECIAL CASH DIVIDEND OF $2.00 PER SHARE Milwaukee, Wisconsin---November 5, 2024---Weyco Group, Inc. (NASDAQ: WEYS) ("we," "our," "us" and the "Company") today announced financial results for the quarter ended September 30, 2024. Third Quarter 2024 Overview ● Net sales: $74.3 million (down 12% compared to $84.2 million in Q3 2023) ● Gross earnings: 44.3% of net sales (up from 43.0% of net sales in Q3 2023) ● Earnings from operations: ...

MILWAUKEE, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Weyco Group, Inc. (NASDAQ: WEYS) (the “Company”) announced that today its Board of Directors declared a special one-time cash dividend of $2.00 per share, for a total of approximately $19.0 million based on the number of shares currently outstanding. The dividend will be paid on January 2, 2025, to shareholders of record at the close of business on November 18, 2024. “We are pleased to announce this return of capital to shareholders,” stated Thomas W. Florsheim, ...

MILWAUKEE, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Weyco Group, Inc. (NASDAQ: WEYS) (“we,” “our,” “us” and the “Company”) today announced financial results for the quarter ended September 30, 2024. Third Quarter 2024 Overview Net sales: $74.3 million (down 12% compared to $84.2 million in Q3 2023)Gross earnings: 44.3% of net sales (up from 43.0% of net sales in Q3 2023)Earnings from operations: $10.2 million (down 18% compared to $12.4 million in Q3 2023)Net earnings: $8.1 million (down 14% compared to $9.3 milli ...