Weyco Q4 Rises

Profit surged at Weyco Group Inc. in the fourth quarter ended Dec. 31, 2012.

The Milwaukee-based firm said net income for the period was $7.7 million, or 71 cents a share, a 38.7 increase from $5.5 million, or 50 cents, a year earlier.

Revenue for the quarter rose 5 percent to $78.4 million, from $74.8 million.

“We are pleased to announce that we had sales growth across all our wholesale brands in North America and internationally during 2012,” said Tom Florsheim Jr., chairman and CEO of Weyco. “We feel that our brands are well-positioned in their respective markets for future growth.”

In North America, wholesale revenue rose 2.9 percent to $56.6 million, from $55 million. The Stacy Adams and Florsheim brands were each up 9 percent for the quarter, while Nunn Bush remained flat. The Bogs and Rafters brands collectively decreased 7 percent for the quarter, owing partly to poorer-than-expected sales in the warm weather.

Retail revenue inched up 1 percent, on the back of an 8 percent rise in same-store sales.

Internationally, combined sales from Florsheim Australia and Florsheim Europe grew 14.6 percent to $14.1 million.

For the full year, net income was $19 million, compared with $15.3 million in 2011.  Revenue totaled $293.5 million, compared with $271.1 million.

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