Weyco Group Inc. reported Thursday afternoon a 54-percent rise in first-quarter earnings on a slight increase in revenues.
The firm, which earlier this week snapped up children’s brand Umi, reported earnings of $3.9 million, or 34 cents, up from a profit of $2.5 million, or 22 cents, last year.
Net sales rose to $61 million from $58.9 million. Wholesale revenues totaled $44.1 million, down from $45.6 million the prior year. Stacy Adams footwear rose 6 percent, while Florsheim sales fell 3 percent.
“We felt positive momentum this quarter, which we hope will continue as we move through the balance of 2010,” said Tom Florsheim Jr., chairman and CEO of Weyco Group, in a written statement.