Weyco Group, Inc (Nasdaq: WEYS) today announced that its sales for the second quarter ending June 30, 2000 were up 20 per cent over the second quarter of 1999. Sales for the second quarter were $38,315,000, as compared with $31,804,000 in 1999. Net earnings for the second quarter ended June 30, 2000 were $2,359,000, an increase of 12 per cent over the second quarter of 1999. Earnings per share for the second quarter were up 19 per cent, from $.48 in 1999 to $.57 in 2000. The per share increases are attributable to increases in net earnings and decreases in average shares outstanding as a result of stock purchases made under the Company's stock repurchase program.

For the six months ended June 30, 2000, sales also increased 20% from $66,845,000 to $80,312,000. Earnings for the six months increased 12%, from $4,814,000 in 1999 to $5,385,000 in 2000. Earnings per share for the six months ended June 30, 2000 were up 18 per cent.

The increases in sales for both the second quarter and the six months ended June 30, 2000 were primarily attributable to increases in wholesale net sales, which increased 22 per cent for the second quarter and 21 per cent for the first six months of the year.

All of the Company's brands continue to post strong sales increases. Our Stacy Adams division was up 27 per cent in the second quarter with a six-month gain of 24 per cent. Within this division there were significant gains in both our dress footwear and in our ``SAO by Stacy Adams'' casual line. Our Nunn Bush brand was up 14 per cent for the second quarter and 15 per cent for the six months ended June 30, 2000 with the strongest growth coming from our ``Nunn Bush NXXT'' contemporary line. Our Brass Boot brand continued its exceptional growth with sales up 64 per cent in the second quarter. Brass Boot sales for the six months were up 81 per cent. Sales backlogs for all our brands remain strong as we head into the third quarter.

Earnings from operations were solid, up 21 per cent for the second quarter and 19 per cent for the six months ended June 30, 2000. The net earnings increase of 12 per cent is lower than the earnings from operations primarily as a result of a higher effective income tax rate in 2000 than in 1999.

On July 1, 2000, the Company paid a regular quarterly dividend of $.11 per share to shareholders of record June 1, 2000.

Weyco Group, Inc is a manufacturer and distributor of men's casual, fashion and dress shoes.

Thomas W. Florsheim Thomas W. Florsheim, Jr.
Chairman President and Chief Executive Officer
WEYCO GROUP, INC.
3 MONTHS ENDED JUNE 30
6 MONTHS ENDED JUNE 30
2000
1999
2000
1999
NET SALES
$38,315,000
$31,804,000
$80,312,000
$66,845,000
EARNINGS FROM OPERATIONS
3,536,000
2,913,000
8,110,000
6,812,000
EARNINGS BEFORE INCOME TAXES
3,709,000
3,160,000
8,435,000
7,314,000
INCOME TAXES
1,350,000
1,050,000
3,050,000
2,500,000
NET EARNINGS
2,359,000
2,110,000
5,385,000
4,814,000
DILUTED EARNINGS PER SHARE
.57
.48
1.29
1.09
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING
4,142,965
4,372,696
4,164,371
4,413,331