Bogs sales were up 20 percent in North America during the third quarter, according to its parent, Weyco Group Inc. (Nasdaq:WEYS).
On a conference call with analysts, Tom Florsheim Jr., Weyco’s chairman and CEO, said Bogs gains were driven by both its classic insulated goods and penetration into new product areas. Bogs began offering waterproof casual leather footwear last fall.
“We’re experiencing sound wholesale growth in this category and nice sell-throughs at retail which should set the stage for future expansion in this category,” said Florsheim Jr. “Our weather oriented products are also off to a strong start across all genders. This season, we’re carrying more core products in our inventory in order to take advantage of end-season sales associated with inclement weather. We believe we are positioned well for strong fourth quarter sales with the Bogs brand.”
Companywide sales reached $91.2 million in the quarter, up 4.4 percent. Weyco’s other brands include Stacy Adams, Florsheim and Nunn Bush.
Earnings were essentially flat at $5.5 million, or 51 cents a share. Margins in Canada and Australia businesses were impacted by currency headwinds. Also impacting results was a 5-percent same-store decline in its Florsheim stores in North America.
–Tom Ryan
