Men's shoe firm Weyco Group Inc on Wednesday posted an 88 per cent leap in third quarter net profit to $4.5 million from $2.4m in the year-ago period amid record sales.

The Milwaukee-based company said net sales in the 13 weeks to September 30 soared 74 per cent to $58.8m from $33.8m with solid sales growth coming from both its wholesale and retail divisions.

The company attributed the growth to its May acquisition of the domestic wholesale business and 23 stores of Florsheim Group Inc for $47.8m. Wholesale sales rose to $53.4m from $32.7m last year with retail sales up to $5.3m from $1.1m.

Sales related to Florsheim's wholesale and retail operations were $18.9m and $4.4m, respectively. The company's other brands also recognised sales increases for the quarter with Stacy Adams up 10.1 per cent, Nunn Bush up 5.8 per cent and Brass Boot up 2.6 per cent.

Weyco also revealed it has entered into a licensing agreement with Figgins Holdings Pty Ltd, who completed the purchase of Florsheim's Pacific and Australian operations in the third quarter.

The agreement will see Figgins operate approximately 30 retail stores throughout Australia and distribute the Florsheim product at wholesale in Australia and the Pacific Rim, excluding Japan.