It was a good second quarter at Weyco Group Inc.
For the quarter ended June 30, the Milwaukee-based firm earned a net income of $2.2 million, or 20 cents a share, compared with $1.9 million, or 17 cents, in 2011.
Net sales advanced 7 percent to $60.3 million, from $56.6 million, on the back of a 5 percent same-store sales increase.
North American wholesale improved 10.7 percent to $43.6 million, while North American retail was flat at $5.6 million.
Wholesale sales of Bogs, Stacy Adams, Nunn Bush and Florsheim and Bogs were up 34 percent, 13 percent, 9 percent and 5 percent, respectively. Sales of Florsheim Australia and Florsheim Europe were flat at $11.1 million.
“We are pleased with the sales volume increases that our major brands attained this quarter,” said Thomas Florsheim Jr., chairman and CEO of Weyco. “While the current retail market remains unpredictable, we feel our overall business is well-positioned going into the second half of the year.”
The firm ended the quarter with $9.3 million in cash and no debt.