Weyco Q1 net sales record $81.4M; EPS $0.42 vs $0.14; dividend $0.24

WEYCO GROUP INC

2022-Q1 EPS reported $0.42 revenue$81,360,000

Net sales $81.4M (record for Q1), up 73% YoY from $46.9M; operating earnings $5.4M vs $1.6M.
Diluted EPS $0.42 vs $0.14 in Q1 2021; net earnings $4.1M vs $1.3M.
North American wholesale sales record $67.1M, retail sales record $7.9M; same-store sales +39%.
Gross margin 35.8% down from 41.2% due to higher freight costs; improvement expected mid-2022.
Board declared $0.24/share dividend payable June 30, 2022 to holders of record May 27, 2022.

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