WEYS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• In February 2025, the U.S. imposed reciprocal and retaliatory tariffs on certain imported goods under the International Emergency Economic Powers Act (“IEEPA”). We paid a total of approximately $19.8 million in IEEPA tariffs in 2025 and the first quarter of 2026. The IEEPA tariffs increased the cost…

• On February 20, 2026, the U.S. Supreme Court ruled that IEEPA does not authorize the President to impose tariffs, declaring the IEEPA tariffs invalid. In April 2026, U.S. Customs and Border Protection (“CBP”) commenced a phased process to accept claims for potential refunds of IEEPA tariffs previous…

• Following the U.S. Supreme Court's ruling, the President announced the implementation of a new across-the-board tariff under a separate statutory authority, currently set at 10%, although the scope and rate remain subject to change. U.S. trade policies continue to evolve and remain unpredictable, cr…

• Our overall company sales were flat for the first quarter, with Wholesale segment sales down 1% compared to the first quarter of last year. Given the uncertainty in the economic environment, we believe we are holding our position within our competitive market segments, with Florsheim continuing its …

• Our legacy brands, which include Florsheim, Nunn Bush, and Stacy Adams, were collectively flat for the quarter, compared to the first quarter of 2025. The Florsheim brand was up 5%, driven by strong sales in the traditional dress category. While the overall dress footwear market has been trending do…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• In early 2025, the U.S. government enacted reciprocal and retaliatory tariffs (“incremental tariffs”) on goods imported into the United States. The incremental tariff on goods sourced from China, where a majority of our products originate, remained at 30% throughout the third quarter of 2025. This t…

• Wholesale net sales for the third quarter of 2025 were down 2% in dollars and 7% in volume, compared to last year’s third quarter. We raised selling prices by 10% on July 1, 2025, to help offset tariff cost increases. While shipments were down slightly, we are encouraged by the relative strength of …

• We continue our efforts to diversify our factory base to reduce our manufacturing concentration in China, while maintaining strong relationships with our long-standing partners there who have been instrumental to Weyco’s reputation for quality and value. Expanding our factory base isn’t a quick proc…

• Sales of our combined legacy business were up 3% for the quarter, despite a 3% decline in volume. Florsheim was the standout brand, with sales up 8% for the quarter. Florsheim continues to be a bright spot in men’s non-athletic footwear for two reasons. First, it’s become the go-to brand for traditi…

• Nunn Bush sales were up 1% for the quarter and continued to show good momentum at retail. With pricing pressures across the industry, Nunn Bush is well-positioned as a branded value alternative in the comfort-casual and traditional dress-casual segments as competitors exit the under-$80 price point.…