Weyco Group Inc. reported sales of its Bogs footwear brand increased 18 percent in the second quarter ended June 30, to $5.2 million. The gains reflected a broadening of the brand's product line beyond boots, including expanding in women’s and children’s.
Bogs sales are reported under Weyco Group's North American Wholesale segment, where sales and licensing revenues reached $48.1 million for the quarter, up 7.4 percent.
The segment also includes the Stacy Adams and Nunn Bush brands where sales grew 12 percent and 9 percent, respectively, for the quarter. Florsheim’s wholesale sales declined 3 percent.
Wholesale gross margins increased to 31.0 percent from 30.5 percent in last year's second quarter, mainly due to an increase in U.S. gross margins. Earnings from operations for the wholesale segment increased 26 percent to $2.2 million, primarily due to higher sales and gross margins.
Wecyo’s net earnings, which also included retail and international operations, declined 7.6 percent to $2.04 million, or 19 cents a share. Sales grew 1.7 percent to $63.9 million. The overall profit decline reflected lower sales in the company's U.S. stores, which are largely Florsheim, as well as lower operating earnings in Australia, resulting from its sluggish retail environment and lower earnings of recently opened retail stores.
