A challenging retail environment flattened Weyco Group Inc.’s earnings in the second quarter, though the company said it is primed for the remainder of the year.
For the three months ended June 30, net earnings were $2.27 million, or 20 cents a diluted share, compared with $2.55 million, or 20 cents, in the same period a year ago. Net sales rose 8 percent to $65 million, up from $60.3 million for the second quarter of 2012.
“We are pleased with our solid growth in both sales and operating earnings this quarter,” Chairman and CEO Tom Florsheim Jr. said in a statement. “While the current retail market remains unpredictable, we feel our overall business is well positioned going into the second half of the year.”
The company also announced that its board issued a quarterly cash dividend of 18 cents a share.