Bogs acquisition boosts earnings for Weyco Group

Milwaukee-based Weyco Group Inc. reported fourth quarter net earnings of $5.5 million, or 50 cents per share, up from $5.1 million, or 45 cents per share, in the same period a year ago.

The company’s net sales for the fourth quarter were $75 million, up 20 percent from $62 million a year earlier.

The increase in 2011 sales was primarily due to the company’s March 2, 2011, acquisition of the Combs Company, the owner of the Bogs and Rafters footwear brands. The financial results of Bogs are included in the company’s consolidated financial statements from the date of acquisition.

“The Bogs acquisition has gone well and the brand is now fully integrated into our company,” stated Tom Florsheim Jr., chairman and chief executive officer of Weyco Group Inc. “We are also very pleased with the improvement of our retail division as well as the strength of our international businesses.”

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display