Bogs sales fell 4 percent in the third quarter due to outdoor stores delaying deliveries of winter boots until the fourth quarter.
“As a result of the late winter weather the nation experienced the last two winters retailers continued to bring in inventory later and also maintain conservative models,” said Tom Florsheim Jr., chairman and CEO of Weyco Group, the parent of Bogs, on a conference call with analysts.
On the positive side, Florsheim said Bogs Kids and Baby Bogs “are off to an excellent start” in fall selling with a number of styles selling out. The Bogs adult business, however, remained slow as more consumers are following a “buy now wear now” strategy for seasonal purchases.
“Fourth quarter weather will play a significant role as far as how the Bogs brand finishes the year,” said Florsheim. “We feel the brand has great product and a strong loyal consumer following, we just need a little assistance from Mother Nature. As always we are working to diversify the Bogs brand to be less dependent on cold temperatures and precipitation. These efforts include the relaunch and expansion of our work line as well as the introduction of more fashionable women styles with light to no insulation.”
Companywide, Weyco Group’s sales reached $76.9 million in the quarter, a decrease of 2.8 percent. Earnings rose 7.3 percent to $4.9 million, or 48 cents a share. Among its other brands, Florsheim sales were up 9 percent for the quarter, due to higher sales to department stores and national shoe chains. Sales of the Stacy Adams and Nunn Bush brands were down 3 percent and 9 percent, respectively, for the quarter, due to lower department store sales.
Photo courtesy Bogs
