• Q3 earnings slip 1% to $5.5m
  • Sales rise 5% to $87.4m
  • North American wholesale sales up 5%

US footwear business Weyco Group has reported a slight fall in third-quarter net profit despite increases in wholesale and retail sales.

Net earnings reached US$5.5m for the three months to 30 September, compared to $5.6m in the same period of the prior year.

Net sales increased 5% to $87.4m from $83.1m a year ago. Net sales in the North American wholesale segment, which include wholesale sales and licensing revenues, were up 5% to $68m from $64.8m last year.

The North American retail segment, which include sales from the company's Florsheim retail stores and its internet business in the US, rose 2% to $5.4m from $5.2m. Same store sales grew 6% for the quarter.

"We are excited about the growth of our BOGS brand in both the US and Canada, however, our legacy brands continue to face a tepid retail environment and challenges with a few key retailers," said chairman and CEO Thomas Florsheim.

"We feel the business with our legacy brands has now stabilised and we anticipate rounding out the year with another strong quarter for BOGS."