Record earnings at Weyco
Men's branded footwear designer and marketer Weyco Group, Inc. has posted higher net sales for its fourth quarter and full year 2006.
Fourth quarter net sales reached $60.6 million from $51.7 million in 2005, an increase of 17%. Net earnings hit a record $7.7 million, up 22% from the $6.3 reported for the same period in 2005. Net sales in the wholesale division, which include wholesale sales and licensing revenues, were $51.2 million compared with $43.5 million in 2005. Sales of the company's Florsheim and Nunn Bush brands grew 41% and 15%, respectively, while sales of its Stacy Adams brand were down 3%. Retail sales climbed approximately 14% in the fourth quarter reaching $9.35 million, up from $8.21 million in 2005.