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Weyco Group reports recurring updates on a branded footwear business that designs and markets shoes for men, women and children under Florsheim, Nunn Bush, Stacy Adams and BOGS. Its products are sold through footwear, department and specialty stores, e-commerce retailers and company-operated Florsheim stores in the United States, Australia and South Africa.
Company news commonly covers quarterly sales and earnings, North American wholesale performance, North American retail activity, brand-level demand, shipping volumes, pricing actions, tariff effects, gross margin trends and discretionary consumer spending. Releases also include earnings-call schedules and capital-return actions such as regular and special cash dividends.
Weyco Group, Inc. reported a significant downturn in its Q2 2020 financial results, primarily due to the COVID-19 pandemic. Net sales fell to $16.7 million, down from $60.5 million in Q2 2019. Operating losses reached $13.0 million, a sharp decline from $1.9 million in the same period last year. The company's net loss was $8.9 million, contrasting with a net profit of $1.5 million in Q2 2019. Despite these challenges, the company declared a $0.24 per share dividend, emphasizing strong liquidity and cost management as priorities.
WEYCO Group, Inc. (NASDAQ: WEYS) will release its second quarter 2020 financial results on August 4, 2020, post-market. CEO Thomas W. Florsheim, Jr. will lead a conference call the next day at 11:00 a.m. ET to discuss the details. Interested participants must pre-register online to join the call. WEYCO Group designs and markets footwear for men, women, and children under brands like Florsheim and Nunn Bush, with products available in stores and e-commerce platforms globally. Further information can be found on their investor relations website.
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