Welcome to our dedicated page for Weyco Group news (Ticker: $WEYS), a resource for investors and traders seeking the latest updates and insights on Weyco Group stock.
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Weyco Group, Inc. reported their first quarter financial results for 2024, with consolidated net sales at $71.6 million, a 17% decrease from the previous year. Earnings from operations were $8.3 million, down 21% from the record first quarter in 2023. The North American Wholesale segment experienced a 20% decrease in sales, with the BOGS brand down 48%. Retail segment sales were up 10%, reaching a first-quarter record of $9.8 million. Florsheim Australia saw a 26% decrease in net sales due to challenges in Asia and a loss of a wholesale customer. Despite lower sales, the company remains optimistic about the future demand and increased their quarterly dividend by 4%.