Weyco Group Q3 FY20 gross sales fall to $53 mn


Weyco Group, a designer of high quality and progressive footwear, reported sharp decline in its web gross sales to $53.1 million through the third quarter (Q3) FY20 ended on September 30, 2020, in comparison with gross sales of $82.5 million in the identical interval earlier fiscal. Firm incurred a web lack of $5.eight million in comparison with web earnings of $6.5 million in Q3 FY19.

 

Gross earnings for the reported interval slipped to $20.three million (Q3 FY19: $32.three million). Promoting and administrative bills had been $24.1 million ($23.eight million). Firm reported a loss from the operations of $three.eight million in comparison with earnings from operations of $eight.four million in Q3 FY19.

 

Internet gross sales within the North American wholesale phase, which embrace North American wholesale gross sales and licensing revenues, had been all the way down to $44.zero million ($67.eight million). BOGS gross sales rose 6 per cent as a result of increased gross sales within the farm, service, and industrial commerce channel and with e-commerce retailers. Gross sales of the Florsheim, Stacy Adams, and Nunn Bush manufacturers plunged 58 per cent, 55 per cent, and 32 per cent, respectively, for the quarter, due primarily to the present lower in demand for gown and dress-casual footwear on account of the continued pandemic.

 

Gross sales within the North American retail phase, which incorporates gross sales from the corporate’s Florsheim retail shops and its e-commerce companies in US had been $four.four million in ($5.2 million).

 

“Whereas our top-line continues to be challenged by the far-reaching results of the Covid-19 pandemic, we’re inspired by the latest pick-up in orders we skilled in our wholesale enterprise in August and September,” Thomas Florsheim, Jr, firm’s chairman and CEO, stated in a press launch. “Moreover, we’re happy with the robust efficiency of our e-commerce web sites, which underscores the power of our manufacturers and continued shopper demand for our merchandise.”

Fibre2Fashion Information Desk (JL)

Weyco Group, a designer of high quality and progressive footwear, reported sharp decline in its web gross sales to $53.1 million through the third quarter (Q3) FY20 ended on September 30, 2020, in comparison with gross sales of $82.5 million in the identical interval earlier fiscal. Firm incurred a web lack of $5.eight million in comparison with web earnings of $6.5 million in Q3 FY19.





Supply hyperlink

Leave a Reply

Your email address will not be published. Required fields are marked *

Leave a comment
scroll to top