Weyco (US:WEYS)2026-03-03 21:06Sales Performance - Fourth quarter 2025 net sales were $76.8 million, down 5% from $80.5 million in Q4 2024[11] - Wholesale net sales for 2025 were $216.8 million, a decrease of 5% compared to $227.9 million in 2024[13] - Retail net sales in 2025 totaled $35.7 million, down 8% from $38.7 million in 2024[15] - Florsheim brand achieved record wholesale sales of $92.0 million in 2025, up 2% from 2024[13] - Florsheim Australia's net sales increased by 12% to $6.8 million in Q4 2025 compared to $6.0 million in Q4 2024[7] Earnings and Profitability - Gross earnings as a percentage of net sales were 43.2% in 2025, compared to 45.3% in 2024[22] - Net earnings for 2025 were $23.1 million, down 24% from $30.3 million in 2024[22] - Gross earnings for the year ended December 31, 2025, were $119,228,000, down 9.3% from $131,525,000 in 2024[28] - Net earnings for the year ended December 31, 2025, were $23,078,000, a decline of 23.9% compared to $30,320,000 in 2024[28] - Basic earnings per share for 2025 were $2.44, down 23.9% from $3.21 in 2024[28] Tax and Costs - The effective tax rate increased to 28.0% in 2025 from 23.9% in 2024[22] - Incremental tariffs increased product costs by 19% to 50%, leading to gross margin compression[8] Cash Flow and Dividends - A quarterly cash dividend of $0.27 per share was declared, payable on March 31, 2026[19] - Cash dividends declared per share increased slightly to $3.07 in 2025 from $3.03 in 2024[28] - Net cash provided by operating activities for 2025 was $37,254,000, a decrease from $37,729,000 in 2024[29] - Net cash used for investing activities was $242,000 in 2025, compared to $1,171,000 in 2024[29] - Net cash used for financing activities decreased significantly to $13,226,000 in 2025 from $32,221,000 in 2024[29] - Cash and cash equivalents at the end of 2025 were $96,006,000, an increase from $70,963,000 at the beginning of the year[29] - The company reported a net increase in cash and cash equivalents of $25,043,000 for 2025[29]