Milwaukee-based Weyco Group Inc. reported fiscal first quarter net earnings of $4.1 million, or 35 cents per share, up from $3.5 million, or 30 cents per share, in the same period a year ago.
The company’s quarterly sales grew to $75.3 million from $65.1 million a year earlier.
Wholesale product sales were $55.9 million in the first quarter of 2012, up from $47.5 million in 2011. The increase in wholesale sales was partly due to the acquisition of the Combs Company (“Bogs”) on March 2, 2011.
Weyco Group designs and markets footwear for men, women and children under a portfolio of brand names, including Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters and Umi.
“We are very pleased with our first quarter results,” said Tom Florsheim Jr., chairman and chief executive officer of Weyco Group. “While having the full first quarter of Bogs sales this year added to our sales volumes, our Stacy Adams and Nunn Bush brands also contributed to our overall sales increases, with each posting double-digit sales gains with higher volumes across several distribution channels.”
