Weyco Group reports Q4 EPS 90c vs. $1.06 last year

Reports Q4 revenue $80.59M vs. $99.05M last year. “We generated record annual earnings in 2023 as a result of stronger gross margins and efforts to contain costs,” stated Thomas W. Florsheim, Jr., Chairman and CEO. “We are particularly pleased with these results despite the lower sales volumes. The last couple of years have had distortions in revenues such as unusually robust fourth quarter sales in Fall of 2022, resulting from timing shifts due to supply chain issues. Looking ahead, we expect to face headwinds in the first half of 2024, but continue to focus on building our backlogs and are optimistic that demand will improve in the back half of the year.”