Weyco Group, Inc.

Climate Impact & Sustainability Data (2022, 2023)

Short-term Goals:

Supply chain issues and challenging market conditions
Oversaturation of outdoor footwear market due to unwinding supply chain issues
Mild winter in parts of US and Canada resulting in softer consumer demand for outdoor footwear

Implemented selling price increases to address higher costs
Increased inventory levels to meet backlog of orders and ensure on-time delivery
Investing in distribution center to gain further efficiencies in processing e-commerce orders
Mindful of challenging environment in outdoor category and confident in navigating changes

Decreased wholesale sales due to softer consumer demand shifting towards experiences and services, resulting in cautious retailer ordering and inventory gluts, particularly impacting the BOGS brand due to unseasonably warm weather.
Retail slowdowns and loss of a significant wholesale account in Australia impacting Florsheim Australia.
Material weakness in internal control over financial reporting related to information technology general controls (ITGCs) in user access and change management.

Managed inventories down to normalized levels from peak quantities at the end of 2022.
Invested in distribution center to increase operational efficiency.
Exiting Asia Pacific business and transitioning key wholesale customers to Australia.
Implementing measures to remediate the material weakness in internal control over financial reporting, including implementing controls, procedures, and software relating to program change management, user access and segregation of duties.

Climate Change Data