Weyco Group Q3: net earnings surge to 11.5 million dollars aided by Florsheim demand

US footwear company Weyco Group (Weyco) has reported a 5 percent increase in net sales to 77 million dollars for the third quarter ended September 30, 2026.

Gross earnings reached 49.7 percent of net sales, up from 40.7 percent in the third quarter of 2025 (Q3 2025), supported by lower tariff rates and 3.30 million dollars in tariff refunds. Operating earnings rose to 13.70 million dollars from 8.10 million dollars, while net earnings advanced to 11.50 million dollars compared to 6.60 million dollars in the prior-year period. Diluted earnings per share reached 1.19 dollars, up from 0.69 dollars.

Wholesale expansion and brand momentum drive gains

North American wholesale net sales rose 6 percent to 64 million dollars, compared to 60.20 million dollars in Q3 2025. Growth was driven by Florsheim and Stacy Adams, which both advanced 9 percent due to dress footwear demand, while Bogs increased 6 percent across major channels and Nunn Bush fell 1 percent.

Wholesale gross earnings reached 46 percent of net sales compared to 35.7 percent last year, aided by lower tariff rates and 3.20 million dollars in recognized refunds. Wholesale selling and administrative expenses totaled 16 million dollars, or 25 percent of net sales, against 14 million dollars, or 23 percent of net sales, in 2025 due to higher employee costs. Operating earnings for the wholesale division rose to 13.40 million dollars from 7.50 million dollars.

“Our third quarter sales were up across North America, led by our Florsheim brand, and supported by solid performances from our Stacy Adams and BOGS brands,” stated Weyco chairman and CEO, Thomas W. Florsheim, Jr. “Florsheim continued its exceptional momentum, delivering another record-breaking quarter at wholesale, surpassing the brand's prior third-quarter sales record set last year.”

Retail and international operations

In the North American retail segment, net sales increased 3 percent to 7.20 million dollars, driven by e-commerce gains on the Florsheim website that offset closures of brick and mortar stores. Retail gross margin expanded to 70.7 percent from 66.4 percent in the previous year, while retail operating earnings reached 0.70 million dollars compared to 0.60 million dollars in 2025.

Overseas operations covering wholesale and retail businesses in Australia and South Africa, operating as Florsheim Australia, recorded net sales of 5.80 million dollars, representing a 3 percent decline. In local currency, net sales dropped 10 percent, primarily across wholesale channels. Gross margin improved to 63.8 percent from 61 percent, while operating losses widened to 0.40 million dollars from 0.10 million dollars in 2025.

On November 3, 2026, the board of directors declared a regular quarterly cash dividend of 0.28 dollars per share along with a special cash dividend of 2 dollars per share. Both distributions are payable on January 8, 2027 to shareholders of record as of November 17, 2026.