WEYS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• In early 2025, the U.S. imposed tariffs on certain imported goods under the International Emergency Economic Powers Act (“IEEPA”). During 2025 and the first quarter of 2026, we paid approximately $19.8 million in IEEPA tariffs. In February 2026, the U.S. Supreme Court invalidated IEEPA tariffs, and …

• Our remaining entries, totaling $1.2 million (now classified as Phase 3 entries), have not yet been assigned a claim submission timeline. No refunds related to our Phase 3 entries have been recognized, as the timing and amount of these recoveries remain uncertain and subject to execution by CBP.

• We are pleased with the growth of our wholesale business in the second quarter. While the categories in which we compete remain under pressure, we delivered growth in three of our four major brands, resulting in a 7% increase in wholesale sales. It remains a challenging environment for discretionary…

• Sales of our combined legacy business, comprised of the Florsheim, Stacy Adams, and Nunn Bush brands, increased 6% in the second quarter.

• Florsheim’s sales increased 12%, driven by strong sales of traditional dress shoes and growth in both hybrid and casual footwear.

Text removed 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…

• 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…

• Nunn Bush net sales were flat compared to the first quarter of 2025. We believe the brand is well-positioned as a leading value option in comfort casual and comfort dress footwear in an economy where many consumers are feeling stretched to cover day-to-day expenses.