• Q2 adjusted net profit up 22% to US$2.2m
  • Net sales up 8% to $65m
  • US wholesale buoyant

Footwear company Weyco Group recorded a 22% surge in adjusted net profit in the second quarter, thanks to an 8% sales increase.

The US business said its North American wholesale revenues had risen by 8.9% to $47.5m in the three months to 30 June, reflecting higher sales for its Nunn Bush and Florsheim brands.

Retail sales, however, fell 3.6% to $5.4m, although same store sales were up 6%.

Outside the US, Florsheim Australia and Florsheim Europe helped Weyco to post other net sales up 9.9% to $12.2m.

“We are pleased with our solid growth in both sales and operating earnings this quarter,” said Thomas Florsheim, Jr, chairman and CEO.

“While the current retail market remains unpredictable, we feel our overall business is well positioned going into the second half of the year.”