Weyco (WEYS) 10-Q 9 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	000-09068
Entity Registrant Name	WEYCO GROUP INC
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0702200
Entity Address, Address Line One	333 W. Estabrook Boulevard
Entity Address, Address Line Two	P. O. Box 1188
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53201
City Area Code	414
Local Phone Number	908-1600
Title of 12(b) Security	Common Stock - $1.00 par value per share
Trading Symbol	WEYS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,820,516
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000106532
Current Fiscal Year End Date	--12-31

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
ASSETS:
Cash and cash equivalents	$ 6,858	$ 9,799
Marketable securities, at amortized cost	1,955	5,904
Accounts receivable, net	39,463	51,532
Income tax receivable	3,656	0
Inventories	76,178	86,713
Prepaid expenses and other current assets	3,284	6,047
Total current assets	131,394	159,995
Marketable securities, at amortized cost	13,703	15,814
Deferred income tax benefits	773	2,487
Property, plant and equipment, net	31,142	32,214
Operating lease right-of-use assets	11,929	18,753
Goodwill	11,112	11,112
Trademarks	32,868	32,868
Other assets	23,659	23,674
Total assets	256,580	296,917
LIABILITIES AND EQUITY:
Short-term borrowings	5,180	7,049
Accounts payable	6,312	12,455
Dividend payable	0	2,355
Operating lease liabilities	4,468	6,505
Accrued liabilities	10,865	13,422
Accrued income tax payable	0	90
Total current liabilities	26,825	41,876
Deferred income tax liabilities	3,226	3,085
Long-term pension liability	27,009	27,523
Operating lease liabilities	9,962	14,110
Other long-term liabilities	263	329
Total liabilities	67,285	86,923
Common stock	9,844	9,873
Capital in excess of par value	66,864	65,832
Reinvested earnings	136,916	158,825
Accumulated other comprehensive loss	(24,329)	(24,536)
Total equity	189,295	209,994
Total liabilities and equity	$ 256,580	$ 296,917

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (UNAUDITED)
Net sales	$ 53,178	$ 82,502	$ 133,408	$ 217,106
Cost of sales	32,841	50,196	82,403	131,633
Gross earnings	20,337	32,306	51,005	85,473
Selling and administrative expenses	24,177	23,817	66,517	69,974
Earnings (loss) from operations	(3,840)	8,489	(15,512)	15,499
Interest income	121	210	408	663
Interest expense	(6)	(96)	(59)	(162)
Other income (expense), net	(8)	11	147	(242)
Earnings (loss) before provision (benefit) for income taxes	(3,733)	8,614	(15,016)	15,758
Provision(benefit) for income taxes	2,136	2,029	(1,426)	3,691
Net earnings (loss)	$ (5,869)	$ 6,585	$ (13,590)	$ 12,067
Basic weighted average shares outstanding (in shares)	9,756	9,912	9,760	9,933
Diluted weighted average shares outstanding (in shares)	9,756	9,929	9,760	9,996
Basic earnings (loss) per share (in dollars per share)	$ (0.60)	$ 0.66	$ (1.39)	$ 1.21
Diluted earnings (loss) per share (in dollars per share)	(0.60)	0.66	(1.39)	1.21
Cash dividends declared (per share)	$ 0.24	$ 0.24	$ 0.72	$ 0.71
Comprehensive income (loss)	$ (4,976)	$ 5,990	$ (13,383)	$ 11,933

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings (loss)	$ (13,590)	$ 12,067
Adjustments to reconcile net earnings (loss) to net cash provided by (used for) operating activities -
Depreciation	2,256	2,478
Amortization	234	133
Bad debt expense	5,102	100
Deferred income taxes	1,854	(209)
Net foreign currency transaction losses	37	(105)
Share-based compensation expense	1,063	1,102
Pension expense	345	785
Impairment of long-lived assets	3,055	0
Increase in cash surrender value of life insurance	(250)	(250)
Changes in operating assets and liabilities -
Accounts receivable	6,908	(5,413)
Inventories	10,528	(8,622)
Prepaid expenses and other assets	2,963	1,731
Accounts payable	(6,187)	(6,418)
Accrued liabilities and other	(3,494)	(1,873)
Accrued income taxes	(3,985)	338
Net cash provided by (used for) operating activities	6,839	(4,156)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities	0	(14,641)
Proceeds from maturities of marketable securities	6,045	11,865
Life insurance premiums paid	(155)	(155)
Purchases of property, plant and equipment	(3,151)	(4,564)
Net cash provided by (used for) investing activities	2,739	(7,495)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(9,361)	(9,408)
Shares purchased and retired	(1,304)	(4,029)
Net proceeds from stock options exercised	0	161
Taxes paid related to the net share settlement of equity awards	0	(5)
Proceeds from bank borrowings	32,855	113,711
Repayments of bank borrowings	(34,724)	(102,689)
Net cash used for financing activities	(12,534)	(2,259)
Effect of exchange rate changes on cash and cash equivalents	15	(8)
Net decrease in cash and cash equivalents	(2,941)	(13,918)
CASH AND CASH EQUIVALENTS at beginning of period	9,799	22,973
CASH AND CASH EQUIVALENTS at end of period	6,858	9,055
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	638	3,385
Interest paid	$ 52	$ 162

Financial Statements

Financial Statements	9 Months Ended
	Sep. 30, 2020
Financial Statements
Financial Statements	1. Financial Statements In the opinion of management, the accompanying unaudited consolidated condensed financial statements contain all adjustments necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented. All such adjustments are of a normal recurring nature. The results of operations for the three and nine months ended September 30, 2020, may not necessarily be indicative of the results for the full year. ​ Use of Estimates ​ The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and during the reporting period. Actual results specifically related to inventory reserves, realizability of deferred tax assets, goodwill and trademarks could materially differ from those estimates that impact the reported amounts and disclosures in the consolidated financial statements and accompanying notes.

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2020
Accounts Receivable
Accounts Receivable	2. Accounts Receivable Two of the Company's large customers filed for bankruptcy during 2020. J.C. Penney Company, Inc. and affiliated entities ("JCP") filed for bankruptcy in May 2020, and Tailored Brands, Inc. ("TB") filed for bankruptcy in August 2020. The Company had outstanding receivable balances with JCP and TB totaling $3.3 million and $1.1 million, respectively, at the time of the bankruptcy filings. While the ultimate resolution of the bankruptcy proceedings and collectability of the receivables are not known, it is likely the Company will incur losses with respect to all or a significant portion of these receivables. Therefore, the Company wrote-off the $3.3 million JCP receivable in the second quarter of 2020 and the $1.1 million TB receivable in the third quarter of 2020.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets	9 Months Ended
	Sep. 30, 2020
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets	3. Impairment of Long-Lived Assets ​ Property, plant, equipment and operating lease right-of-use assets, along with other long-lived assets, are evaluated for impairment periodically whenever triggering events or indicators exist that the carrying values may not be fully recoverable. As a result of the COVID-19 pandemic, the Company identified indicators of impairment for its retail stores worldwide. The Company performed undiscounted cash flow analyses over the long-lived assets of its retail stores and compared them to the carrying value of those assets. Based on these undiscounted cash flow analyses, the Company determined that certain long-lived assets had carrying values that exceeded their estimated undiscounted cash flows. As a result, the Company recognized $1.9 million for the impairment of retail store fixed assets and $1.2 million for the impairment of operating lease right-of-use assets. These charges were recorded within selling and administrative expenses within the Consolidated Statements of Earnings and Comprehensive Income (Unaudited).

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2020
Earnings (Loss) Per Share
Earnings (Loss) Per Share	4. Earnings (Loss) Per Share The following table sets forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands, except per share amounts) Numerator: ​ ​ ​ ​ ​ Net earnings (loss) ​ $ (5,869) ​ $ 6,585 ​ $ (13,590) ​ $ 12,067 ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Basic weighted average shares outstanding ​ 9,756 ​ 9,912 ​ 9,760 ​ 9,933 Effect of dilutive securities: ​ ​ ​ ​ Employee share-based awards ​ — ​ 17 ​ — ​ 63 Diluted weighted average shares outstanding ​ 9,756 ​ 9,929 ​ 9,760 ​ 9,996 ​ ​ ​ ​ ​ Basic earnings (loss) per share ​ $ (0.60) ​ $ 0.66 ​ $ (1.39) ​ $ 1.21 ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings (loss) per share ​ $ (0.60) ​ $ 0.66 ​ $ (1.39) ​ $ 1.21 ​ The three and nine months ended September 30, 2020, resulted in a net loss; therefore, there was no difference in the weighted average number of common shares for basic and diluted loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive. Diluted weighted average shares outstanding for the three months ended September 30, 2020, excludes anti-dilutive share-based awards totaling 1,169,000 shares of common stock at a weighted average price of $24.71. Diluted weighted average shares outstanding for the nine months ended September 30, 2020, excludes anti-dilutive share-based awards totaling 1,181,000 shares of common stock at a weighted average price of $26.06. Diluted weighted average shares outstanding for the three months ended September 30, 2019, excludes anti-dilutive share-based awards totaling 1,382,000 shares of common stock at a weighted average price of $26.56. Diluted weighted average shares outstanding for the nine months ended September 30, 2019, excludes anti-dilutive share-based awards totaling 696,000 shares of common stock at a weighted average price of $28.51.

Investments

Investments	9 Months Ended
	Sep. 30, 2020
Investments
Investments	5. Investments As noted in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, all of the Company’s marketable securities are classified as held-to-maturity securities and reported at amortized cost pursuant to Accounting Standards Codification (“ASC”) 320, Investments – Debt and Equity Securities Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of September 30, 2020, and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Amortized ​ Market Amortized ​ Market ​ Cost Value Cost Value ​ ​ (Dollars in thousands) Municipal bonds: ​ ​ ​ ​ Current ​ $ 1,955 ​ $ 1,977 ​ $ 5,904 ​ $ 5,915 Due from one through five years ​ 7,031 ​ 7,388 ​ 8,336 ​ 8,621 Due from six through ten years ​ 4,149 ​ 4,756 ​ 4,255 ​ 4,618 Due from eleven through twenty years ​ 2,523 ​ 2,741 ​ 3,223 ​ 3,430 Total ​ $ 15,658 ​ $ 16,862 ​ $ 21,718 ​ $ 22,584 ​ The unrealized gains and losses on marketable securities at September 30, 2020, and at December 31, 2019, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Unrealized ​ Unrealized ​ Unrealized ​ Unrealized ​ Gains Losses Gains Losses ​ ​ (Dollars in thousands) Municipal bonds ​ $ 1,204 ​ $ — ​ $ 866 ​ $ – ​ The estimated market values provided are level 2 valuations as defined by ASC 820, Fair Value Measurements and Disclosures

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2020
Intangible Assets
Intangible Assets	6. Intangible Assets The Company evaluates its goodwill and trademarks for impairment annually during the fourth quarter, or more frequently if events occur or circumstances change that indicate impairment may be present. Given the substantial reduction in sales, reduced cash flow projections, and the decrease in the Company's market capitalization due to the impact of the COVID-19 pandemic on macroeconomic conditions, the Company determined that potential impairment indicators were present and that an impairment assessment was warranted for goodwill and trademarks in connection with the preparation of the financial statements for the third quarter of 2020. As a result, the Company performed an interim assessment of goodwill, all of which is assigned to its wholesale reporting unit, using a quantitative approach as of September 30, 2020, and an interim assessment of trademarks also using a quantitative approach as of September 30, 2020. In conducting the interim goodwill assessment, the estimated fair value of the Company's wholesale reporting unit was determined using discounted cash flows analysis. As of September 30, 2020, the fair value of the Company's wholesale reporting unit exceeded its carrying value by 21%; therefore no goodwill impairment was recorded. In evaluating trademarks, estimated fair values were determined using discounted cash flows and implied royalty rates. Based on the results of the trademark assessments, the Company concluded that the fair values of the trademarks substantially exceeded their respective carrying values. Therefore, no impairment was recorded on the Company's trademarks. The Company can make no assurances that its goodwill or trademarks will not be impaired in the future. When preparing a discounted cash flow analysis, the Company makes a number of key estimates and assumptions regarding future cash flows and growth. The discount rate used is based on the Company's weighted average cost of capital, which includes assumptions such as market capital structure, market beta, risk-free rate of return, and estimated costs of borrowing. Changes in key estimates assumptions, and macroeconomic conditions, and/or continued deterioration of the Company's market capitalization and business, could lead to an impairment charge in a future period. ​ The Company's amortizable intangible assets, which were included within other assets in the Consolidated Condensed Balance Sheets (unaudited), consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Weighted ​ Gross ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Carrying ​ Accumulated ​ ​ ​ ​ Carrying ​ ​ Accumulated ​ ​ ​ ​ Life (Years) Amount Amortization Net Amount ​ Amortization Net ​ ​ ​ ​ (Dollars in thousands) ​ (Dollars in thousands) Amortizable intangible assets ​ ​ ​ ​ ​ ​ Customer relationships 15 ​ $ 3,500 $ (2,236) ​ $ 1,264 ​ $ 3,500 ​ $ (2,061) ​ $ 1,439 Total amortizable intangible assets ​ $ 3,500 $ (2,236) ​ $ 1,264 ​ $ 3,500 ​ $ (2,061) ​ $ 1,439 ​ Amortization expense related to the intangible assets was approximately $58,000 in both the third quarters of 2020 and 2019. For the nine months ended September 30, amortization expense related to the intangible assets was approximately $175,000 in both 2020 and 2019.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Information
Segment Information	7. Segment Information The Company has two reportable segments: North American wholesale operations (“Wholesale”) and North American retail operations (“Retail”). The Company’s Chief Executive Officer evaluates the performance of the Company’s segments based on earnings (loss)from operations. Therefore, interest income or expense, other income or expense, and income taxes are not allocated to the segments. The “other” category in the tables below includes the Company’s wholesale and retail operations in Australia, South Africa, Asia Pacific and Europe, which do not meet the criteria for separate reportable segment classification. Summarized segment data for the three and nine months ended September 30, 2020 and 2019, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, Wholesale Retail Other Total ​ ​ (Dollars in thousands) 2020 ​ ​ ​ ​ ​ Product sales ​ $ 43,788 ​ $ 4,367 ​ $ 4,799 ​ $ 52,954 Licensing revenues ​ 224 ​ — ​ — ​ 224 Net sales ​ $ 44,012 ​ $ 4,367 ​ $ 4,799 ​ $ 53,178 Earnings (loss) from operations ​ $ 2,752 (1) $ (2,796) (2) $ (3,796) (3) $ (3,840) ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ Product sales ​ $ 67,193 ​ $ 5,158 ​ $ 9,521 ​ $ 81,872 Licensing revenues ​ 630 ​ — ​ — ​ 630 Net sales ​ $ 67,823 ​ $ 5,158 ​ $ 9,521 ​ $ 82,502 Earnings (loss) from operations ​ $ 9,485 ​ $ 365 ​ $ (1,361) ​ $ 8,489 (1) Includes the write-off of a $1.1 million receivable related to TB due to its bankruptcy filed during the pandemic, $0.5 million in employee costs related to restructuring and temporary closures, $0.5 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.2 million in other related charges, partially offset by $0.3 million of income from government wage subsidies. (2) Includes $1.5 million in early lease termination charges, $1.0 million for the impairment of retail store fixed assets, and $0.1 million in employee costs related to restructuring and temporary closures. (3) Includes $2.1 million for the impairment of retail store fixed assets and operating lease right-of-use assets, $1.1 million in employee costs related to restructuring and temporary closures, $0.5 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.2 million in related charges, partially offset by $1.1 million of income from government wage and rent subsidies. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, Wholesale Retail Other Total ​ ​ (Dollars in thousands) 2020 ​ ​ ​ ​ Product sales ​ $ 105,193 ​ $ 12,768 ​ $ 14,621 ​ $ 132,582 Licensing revenues ​ 826 ​ — ​ — ​ 826 Net sales ​ $ 106,019 ​ $ 12,768 ​ $ 14,621 ​ $ 133,408 Earnings (loss) from operations ​ $ (4,664) (4) $ (3,741) (5) $ (7,107) (6) $ (15,512) ​ ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ Product sales ​ $ 171,383 ​ $ 16,124 ​ $ 27,626 ​ $ 215,133 Licensing revenues ​ 1,973 ​ — ​ — ​ 1,973 Net sales ​ $ 173,356 ​ $ 16,124 ​ $ 27,626 ​ $ 217,106 Earnings (loss) from operations ​ $ 16,903 ​ $ 1,249 ​ $ (2,653) ​ $ 15,499 (4) Includes the write-off of $4.4 million in receivables due to two bankruptcies of large customers (JCP and TB) filed during the pandemic, $1.9 million in employee costs related to restructuring and temporary closures, $0.5 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.2 million in other related charges, partially offset by $1.6 million of income from government wage subsidies. (5) Includes $1.5 million in early lease termination charges, $1.0 million for the impairment of retail store fixed assets, and $0.1 million in employee costs related to restructuring and temporary closures. (6) Includes $2.1 million for the impairment of retai store fixed assets and operating lease right-of-use assets, $2.0 million in employee costs related to restructuring and temporary closures, $1.6 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.6 million in related charges, partially offset by $2.5 million of income from government wage and rent subsidies.

Employee Retirement Plans

Employee Retirement Plans	9 Months Ended
	Sep. 30, 2020
Employee Retirement Plans
Employee Retirement Plans	8. Employee Retirement Plans The components of the Company’s net periodic pension cost were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands) Service cost ​ $ 115 ​ $ 116 ​ $ 345 ​ $ 347 Interest cost ​ 502 ​ 615 ​ 1,508 ​ 1,845 Expected return on plan assets ​ (693) ​ (625) ​ (2,081) ​ (1,876) Net amortization and deferral ​ 191 ​ 156 ​ 573 ​ 469 Net periodic pension cost ​ $ 115 ​ $ 262 ​ $ 345 ​ $ 785 ​ The components of net periodic pension cost other than the service cost component are included in other income (expense), net in the Consolidated Condensed Statements of Earnings and Comprehensive Income (Unaudited).

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases
Leases	9. Leases The Company leases retail shoe stores, as well as several office and distribution facilities worldwide. The leases have original lease periods expiring between the fourth quarter of 2020 and 2030. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. During the third quarter of 2020, the Company recorded $1.2 million expense for the impairment of operating lease right-of-use assets related to its retail stores worldwide. This impairment was part of the overall $3.1 million impairment of long-lived assets charge recognized during the quarter. The components of the Company’s operating lease costs were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 ​ 2019 2020 ​ 2019 ​ ​ (Dollars in thousands) Operating lease costs ​ $ 1,652 ​ $ 2,198 ​ $ 5,237 ​ $ 6,590 Variable lease costs (1) ​ — ​ — ​ 12 ​ 43 Total lease costs ​ $ 1,652 ​ $ 2,198 ​ $ 5,249 ​ $ 6,633 (1) ​ Short-term lease costs, which were excluded from the above table, are not material to the Company's financial statements. The following is a schedule of maturities of operating lease liabilities as of September 30, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ Operating Leases 2020, excluding the nine months ended September 30, 2020 ​ $ 1,301 2021 ​ 4,559 2022 ​ 3,309 2023 ​ 2,270 2024 ​ 1,505 Thereafter ​ 2,830 Total lease payments ​ 15,774 Less imputed interest ​ (1,344) Present value of lease liabilities ​ $ 14,430 ​ The operating lease liabilities are classified in the consolidated condensed balance sheets as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ (Dollars in thousands) Operating lease liabilities – current ​ $ 4,468 $ 6,505 Operating lease liabilities - non-current ​ 9,962 ​ ​ 14,110 Total ​ $ 14,430 ​ $ 20,615 ​ The Company determined the present value of its lease liabilities using a weighted-average discount rate of 4.25%. As of September 30, 2020, the Company’s leases have a weighted-average remaining lease term of 4.63 years. The decrease in lease liabilities in 2020 was primarily due to the early closing of three unprofitable retail stores in the U.S. and lease expirations at Florsheim Australia. Supplemental cash flow information related to the Company’s operating leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities ​ $ 2,174 ​ $ 2,278 ​ $ 5,424 ​ $ 6,803 Right-of-use assets obtained in exchange for new lease liabilities (noncash) ​ $ 72 ​ $ — ​ $ 216 ​ $ 27,002 ​

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Taxes
Income Taxes	10. Income Taxes ​ The Company's provision (benefit) for income taxes and effective tax rates for the three and nine months ended September 30, 2020 and 2019 are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ ​ (Dollars in thousands) ​ Earnings (loss) before provision (benefit) for income taxes ​ $ (3,733) ​ $ 8,614 ​ $ (15,016) ​ $ 15,758 ​ Income tax provision (benefit) ​ $ 2,136 ​ $ 2,029 ​ $ (1,426) ​ $ 3,691 ​ Effective tax rate ​ ​ (57.2) % ​ 23.6 % ​ 9.5 % ​ 23.4 % ​ The Company's third quarter and year-to-date 2020 income tax provisions included $2.0 million of tax expense related to deferred tax assets of the Company's foreign subsidiaries. The Company's 2020 effective tax rates were also impacted because it has not recorded an income tax benefit on foreign subsidiary losses, and, in the U.S., the Company has the ability to carry back current year losses to a tax year when the U.S. federal statutory tax rate was 35%, which is currently permitted under the U.S. Coronavirus Aid, Relief, and Economic Security Act ("CARES Act").

Share-Based Compensation Plans

Share-Based Compensation Plans	9 Months Ended
	Sep. 30, 2020
Share-Based Compensation Plans
Share-Based Compensation Plans	11. Share-Based Compensation Plans During the three and nine months ended September 30, 2020, the Company recognized $362,000 and $1,063,000 respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2016 through 2020. During the three and nine months ended September 30, 2019, the Company recognized $371,000 and $1,102,000, respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2015 through 2019. ​ The following table summarizes the Company’s stock option activity for the nine-month period ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ ​ ​ Exercise ​ Contractual ​ Intrinsic ​ Shares Price Term (Years) Value* Outstanding at December 31, 2019 1,176,770 ​ $ 27.14 ​ Granted 188,600 ​ $ 18.00 ​ Exercised — ​ $ — ​ Forfeited or expired (238,047) ​ $ 27.08 ​ Outstanding at September 30, 2020 1,127,323 ​ $ 25.62 5.7 ​ $ — Exercisable at September 30, 2020 641,952 ​ $ 26.77 3.3 ​ $ — * The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company's stock on September 30, 2020, the last trading day of the quarter, of $16.17 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options. The respective exercise prices of all of the Company's outstanding stock options were higher than the closing price of the Company's common stock as of September 30, 2020; therefore, the aggregate intrinsic value of the Company's stock options is zero. ​ The following table summarizes the Company’s stock option exercise activity for the three and nine-month periods ended September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands) Total intrinsic value of stock options exercised ​ $ — ​ $ — ​ $ — ​ $ 88 Net proceeds from stock option exercises ​ $ — ​ $ — ​ $ — ​ $ 161 Income tax benefit from the exercise of stock options ​ $ — ​ $ — ​ $ — ​ $ 23 ​ The following table summarizes the Company’s restricted stock award activity for the nine-month period ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ Shares of ​ Average ​ Remaining ​ Aggregate ​ ​ Restricted ​ Grant Date ​ Contractual ​ Intrinsic ​ Stock Fair Value Term (Years) Value* Non-vested at December 31, 2019 68,735 ​ $ 28.04 ​ Issued 30,800 ​ ​ 18.00 ​ Vested (27,045) ​ 18.39 ​ Non-vested at September 30, 2020 72,490 ​ $ 23.77 3.0 ​ $ 1,172,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on September 30, 2020 ($16.17) multiplied by the number of non-vested restricted shares outstanding.

Short-Term Borrowings

Short-Term Borrowings	9 Months Ended
	Sep. 30, 2020
Short-Term Borrowings.
Short-Term Borrowings	12. Short-Term Borrowings At September 30, 2020, the Company had a $60 million unsecured revolving line of credit with PNC Bank, National Association ("PNC") that was originally set to expire on November 5, 2020. The line of credit bore interest at the London Interbank Offered Rate (“LIBOR”) plus 0.75%. At September 30, 2020, outstanding borrowings were approximately $5.2 million at an interest rate of 0.90%. The highest balance on the line of credit during the nine months ended September 30, 2020 was $8.5 million.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2020
Financial Instruments
Financial Instruments	13. Financial Instruments At September 30, 2020, the Company had foreign exchange contracts outstanding to sell $3.0 million Canadian dollars at a price of approximately $2.3 million U.S. dollars. The Company’s wholly owned subsidiary, Florsheim Australia, had foreign exchange contracts outstanding to buy $2.1 million U.S. dollars at a price of approximately $2.9 million Australian dollars. These contracts are set to expire on or before April 30, 2021. Based on quarter-end exchange rates, there were no significant unrealized gains or losses on the outstanding contracts. The Company determines the fair value of foreign exchange contracts based on the difference between the foreign currency contract rates and the widely available foreign currency rates as of the measurement date. The fair value measurements are based on observable market transactions, and thus represent a level 2 valuation as defined by ASC 820.

Comprehensive Income (Loss)

Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2020
Comprehensive Income (Loss)
Comprehensive Income (Loss)	14. Comprehensive Income (Loss) Comprehensive income (loss) for the three and nine months ended September 30, 2020 and 2019, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands) Net earnings ​ $ (5,869) ​ $ 6,585 ​ $ (13,590) ​ $ 12,067 Foreign currency translation adjustments ​ 751 ​ (711) ​ (217) ​ (481) Pension liability, net of tax of $49, $40, $149 and $122, respectively ​ 142 ​ 116 ​ 424 ​ 347 Total comprehensive income (loss) ​ $ (4,976) ​ $ 5,990 ​ $ (13,383) ​ $ 11,933 ​ The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 ​ ​ (Dollars in thousands) Foreign currency translation adjustments ​ $ (7,250) ​ $ (7,033) Pension liability, net of tax ​ (17,079) ​ (17,503) Total accumulated other comprehensive loss ​ $ (24,329) ​ $ (24,536) ​ The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the nine months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ ​ ​ ​ Translation ​ Defined Benefit ​ ​ ​ ​ ​ Adjustments ​ Pension Items ​ Total Beginning balance, December 31, 2019 ​ $ (7,033) ​ $ (17,503) ​ $ (24,536) Other comprehensive loss before reclassifications ​ (217) ​ — ​ (217) Amounts reclassified from accumulated other comprehensive loss ​ — ​ 424 ​ 424 Net current period other comprehensive (loss) income ​ (217) ​ 424 ​ 207 Ending balance, September 30, 2020 ​ $ (7,250) ​ $ (17,079) ​ $ (24,329) ​ The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the nine months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified ​ ​ ​ from accumulated other ​ ​ ​ ​ comprehensive loss for the ​ Affected line item in the ​ ​ nine months ended September 30, ​ statement where net income ​ 2020 is presented ​ ​ ​ ​ ​ ​ Amortization of defined benefit pension items ​ Prior service cost ​ $ (47) (1) Other income (expense), net Actuarial losses ​ 620 (1) Other income (expense), net Total before tax ​ 573 Tax benefit ​ (149) Net of tax ​ $ 424 (1) These amounts were included in net periodic pension cost. See Note 8 for additional details .

Equity

Equity	9 Months Ended
	Sep. 30, 2020
Equity
Equity	15. Equity The following table reconciles the Company’s equity for the nine months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ Other ​ ​ Common ​ Excess of ​ Reinvested ​ Comprehensive ​ Stock Par Value Earnings Loss ​ ​ (Dollars in thousands) Balance, December 31, 2019 ​ $ 9,873 ​ $ 65,832 ​ $ 158,825 ​ $ (24,536) Net earnings ​ — ​ — ​ 1,162 ​ — Foreign currency translation adjustments ​ — ​ — ​ — ​ (2,558) Pension liability adjustment, net of tax ​ — ​ — ​ — ​ 138 Cash dividends declared ​ — ​ — ​ (2,357) ​ — Share-based compensation expense ​ ​ — ​ ​ 351 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (60) ​ ​ — ​ ​ (1,244) ​ ​ — Balance, March 31,2020 ​ $ 9,813 ​ $ 66,183 ​ $ 156,386 ​ $ (26,956) Net earnings (loss) ​ ​ — ​ ​ — ​ ​ (8,883) ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,590 Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 144 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,355) ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 350 ​ ​ — ​ ​ — Balance, June 30,2020 ​ $ 9,813 ​ $ 66,533 ​ $ 145,148 ​ $ (25,222) Net earnings (loss) ​ ​ — ​ ​ — ​ ​ (5,869) ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ 751 Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 142 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,363) ​ ​ — Issuance of restricted stock ​ ​ 31 ​ ​ (31) ​ ​ — ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 362 ​ ​ — ​ ​ — Balance, September 30,2020 ​ $ 9,844 ​ $ 66,864 ​ $ 136,916 ​ $ (24,329) ​ The following table reconciles the Company’s equity for the nine months ended September 30, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ Other ​ ​ Common ​ Excess of ​ Reinvested ​ Comprehensive ​ Stock Par Value Earnings Loss ​ (Dollars in thousands) Balance, December 31, 2018 ​ $ 10,057 ​ $ 64,263 ​ $ 152,835 ​ $ (21,572) Net earnings ​ — ​ — ​ 3,968 ​ — Foreign currency translation adjustments ​ — ​ — ​ — ​ 130 Pension liability adjustment, net of tax ​ — ​ — ​ — ​ 108 Cash dividends declared ​ — ​ — ​ (2,299) ​ — Common stock issued under equity incentive plans, net of shares withheld for emloyee taxes and strike price ​ ​ 1 ​ ​ 6 ​ ​ — ​ ​ — Issuance of restricted stock ​ ​ 1 ​ ​ (1) ​ ​ — ​ ​ — Share-based compensation expense ​ — ​ ​ 366 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (64) ​ ​ — ​ ​ (1,764) ​ ​ — Balance, March 31, 2019 ​ $ 9,995 ​ $ 64,634 ​ $ 152,740 ​ $ (21,334) Net earnings ​ ​ — ​ ​ — ​ ​ 1,514 ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ 100 Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 123 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,401) ​ ​ — Common stock issued under equity incentive plans, net of shares withheld for emloyee taxes and strike price ​ ​ 7 ​ ​ 142 ​ ​ — ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 365 ​ ​ — ​ ​ — Balance, June 30,2019 ​ $ 10,002 ​ $ 65,141 ​ $ 151,853 ​ $ (21,111) Net earnings ​ ​ — ​ ​ — ​ ​ 6,585 ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ (711) Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 116 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,395) ​ ​ — Issuance of restricted stock ​ ​ 30 ​ ​ (30) ​ ​ — ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 371 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (91) ​ ​ — ​ ​ (2,110) ​ ​ — Balance, September 30, 2019 ​ $ 9,941 ​ $ 65,482 ​ $ 153,933 ​ $ (21,706) ​

Financial Statements (Policies)

Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2020
Financial Statements
Use of Estimates	Use of Estimates ​ The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and during the reporting period. Actual results specifically related to inventory reserves, realizability of deferred tax assets, goodwill and trademarks could materially differ from those estimates that impact the reported amounts and disclosures in the consolidated financial statements and accompanying notes.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings (Loss) Per Share
Schedule of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands, except per share amounts) Numerator: ​ ​ ​ ​ ​ Net earnings (loss) ​ $ (5,869) ​ $ 6,585 ​ $ (13,590) ​ $ 12,067 ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Basic weighted average shares outstanding ​ 9,756 ​ 9,912 ​ 9,760 ​ 9,933 Effect of dilutive securities: ​ ​ ​ ​ Employee share-based awards ​ — ​ 17 ​ — ​ 63 Diluted weighted average shares outstanding ​ 9,756 ​ 9,929 ​ 9,760 ​ 9,996 ​ ​ ​ ​ ​ Basic earnings (loss) per share ​ $ (0.60) ​ $ 0.66 ​ $ (1.39) ​ $ 1.21 ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings (loss) per share ​ $ (0.60) ​ $ 0.66 ​ $ (1.39) ​ $ 1.21 ​

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Investments
Schedule of Marketable securities	Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of September 30, 2020, and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Amortized ​ Market Amortized ​ Market ​ Cost Value Cost Value ​ ​ (Dollars in thousands) Municipal bonds: ​ ​ ​ ​ Current ​ $ 1,955 ​ $ 1,977 ​ $ 5,904 ​ $ 5,915 Due from one through five years ​ 7,031 ​ 7,388 ​ 8,336 ​ 8,621 Due from six through ten years ​ 4,149 ​ 4,756 ​ 4,255 ​ 4,618 Due from eleven through twenty years ​ 2,523 ​ 2,741 ​ 3,223 ​ 3,430 Total ​ $ 15,658 ​ $ 16,862 ​ $ 21,718 ​ $ 22,584
Schedule of Unrealized gains and losses	The unrealized gains and losses on marketable securities at September 30, 2020, and at December 31, 2019, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Unrealized ​ Unrealized ​ Unrealized ​ Unrealized ​ Gains Losses Gains Losses ​ ​ (Dollars in thousands) Municipal bonds ​ $ 1,204 ​ $ — ​ $ 866 ​ $ – ​

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Intangible Assets
Schedule of Company's amortizable intangible assets	The Company's amortizable intangible assets, which were included within other assets in the Consolidated Condensed Balance Sheets (unaudited), consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Weighted ​ Gross ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Carrying ​ Accumulated ​ ​ ​ ​ Carrying ​ ​ Accumulated ​ ​ ​ ​ Life (Years) Amount Amortization Net Amount ​ Amortization Net ​ ​ ​ ​ (Dollars in thousands) ​ (Dollars in thousands) Amortizable intangible assets ​ ​ ​ ​ ​ ​ Customer relationships 15 ​ $ 3,500 $ (2,236) ​ $ 1,264 ​ $ 3,500 ​ $ (2,061) ​ $ 1,439 Total amortizable intangible assets ​ $ 3,500 $ (2,236) ​ $ 1,264 ​ $ 3,500 ​ $ (2,061) ​ $ 1,439

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Information
Schedule of Segment Reporting Information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, Wholesale Retail Other Total ​ ​ (Dollars in thousands) 2020 ​ ​ ​ ​ ​ Product sales ​ $ 43,788 ​ $ 4,367 ​ $ 4,799 ​ $ 52,954 Licensing revenues ​ 224 ​ — ​ — ​ 224 Net sales ​ $ 44,012 ​ $ 4,367 ​ $ 4,799 ​ $ 53,178 Earnings (loss) from operations ​ $ 2,752 (1) $ (2,796) (2) $ (3,796) (3) $ (3,840) ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ Product sales ​ $ 67,193 ​ $ 5,158 ​ $ 9,521 ​ $ 81,872 Licensing revenues ​ 630 ​ — ​ — ​ 630 Net sales ​ $ 67,823 ​ $ 5,158 ​ $ 9,521 ​ $ 82,502 Earnings (loss) from operations ​ $ 9,485 ​ $ 365 ​ $ (1,361) ​ $ 8,489 (1) Includes the write-off of a $1.1 million receivable related to TB due to its bankruptcy filed during the pandemic, $0.5 million in employee costs related to restructuring and temporary closures, $0.5 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.2 million in other related charges, partially offset by $0.3 million of income from government wage subsidies. (2) Includes $1.5 million in early lease termination charges, $1.0 million for the impairment of retail store fixed assets, and $0.1 million in employee costs related to restructuring and temporary closures. (3) Includes $2.1 million for the impairment of retail store fixed assets and operating lease right-of-use assets, $1.1 million in employee costs related to restructuring and temporary closures, $0.5 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.2 million in related charges, partially offset by $1.1 million of income from government wage and rent subsidies. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, Wholesale Retail Other Total ​ ​ (Dollars in thousands) 2020 ​ ​ ​ ​ Product sales ​ $ 105,193 ​ $ 12,768 ​ $ 14,621 ​ $ 132,582 Licensing revenues ​ 826 ​ — ​ — ​ 826 Net sales ​ $ 106,019 ​ $ 12,768 ​ $ 14,621 ​ $ 133,408 Earnings (loss) from operations ​ $ (4,664) (4) $ (3,741) (5) $ (7,107) (6) $ (15,512) ​ ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ Product sales ​ $ 171,383 ​ $ 16,124 ​ $ 27,626 ​ $ 215,133 Licensing revenues ​ 1,973 ​ — ​ — ​ 1,973 Net sales ​ $ 173,356 ​ $ 16,124 ​ $ 27,626 ​ $ 217,106 Earnings (loss) from operations ​ $ 16,903 ​ $ 1,249 ​ $ (2,653) ​ $ 15,499 (4) Includes the write-off of $4.4 million in receivables due to two bankruptcies of large customers (JCP and TB) filed during the pandemic, $1.9 million in employee costs related to restructuring and temporary closures, $0.5 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.2 million in other related charges, partially offset by $1.6 million of income from government wage subsidies. (5) Includes $1.5 million in early lease termination charges, $1.0 million for the impairment of retail store fixed assets, and $0.1 million in employee costs related to restructuring and temporary closures. (6) Includes $2.1 million for the impairment of retai store fixed assets and operating lease right-of-use assets, $2.0 million in employee costs related to restructuring and temporary closures, $1.6 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.6 million in related charges, partially offset by $2.5 million of income from government wage and rent subsidies.

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Employee Retirement Plans
Schedule of Company's net periodic pension cost	The components of the Company’s net periodic pension cost were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands) Service cost ​ $ 115 ​ $ 116 ​ $ 345 ​ $ 347 Interest cost ​ 502 ​ 615 ​ 1,508 ​ 1,845 Expected return on plan assets ​ (693) ​ (625) ​ (2,081) ​ (1,876) Net amortization and deferral ​ 191 ​ 156 ​ 573 ​ 469 Net periodic pension cost ​ $ 115 ​ $ 262 ​ $ 345 ​ $ 785 ​

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases
Schedule of operating lease costs	The components of the Company’s operating lease costs were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 ​ 2019 2020 ​ 2019 ​ ​ (Dollars in thousands) Operating lease costs ​ $ 1,652 ​ $ 2,198 ​ $ 5,237 ​ $ 6,590 Variable lease costs (1) ​ — ​ — ​ 12 ​ 43 Total lease costs ​ $ 1,652 ​ $ 2,198 ​ $ 5,249 ​ $ 6,633 (1)
Schedule of maturities of operating lease liabilities	The following is a schedule of maturities of operating lease liabilities as of September 30, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ Operating Leases 2020, excluding the nine months ended September 30, 2020 ​ $ 1,301 2021 ​ 4,559 2022 ​ 3,309 2023 ​ 2,270 2024 ​ 1,505 Thereafter ​ 2,830 Total lease payments ​ 15,774 Less imputed interest ​ (1,344) Present value of lease liabilities ​ $ 14,430 ​ The operating lease liabilities are classified in the consolidated condensed balance sheets as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ (Dollars in thousands) Operating lease liabilities – current ​ $ 4,468 $ 6,505 Operating lease liabilities - non-current ​ 9,962 ​ ​ 14,110 Total ​ $ 14,430 ​ $ 20,615 ​
Schedule of supplemental cash flow information	Supplemental cash flow information related to the Company’s operating leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities ​ $ 2,174 ​ $ 2,278 ​ $ 5,424 ​ $ 6,803 Right-of-use assets obtained in exchange for new lease liabilities (noncash) ​ $ 72 ​ $ — ​ $ 216 ​ $ 27,002

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Taxes
Schedule of provision (benefit) for income taxes and effective tax rates	The Company's provision (benefit) for income taxes and effective tax rates for the three and nine months ended September 30, 2020 and 2019 are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ ​ (Dollars in thousands) ​ Earnings (loss) before provision (benefit) for income taxes ​ $ (3,733) ​ $ 8,614 ​ $ (15,016) ​ $ 15,758 ​ Income tax provision (benefit) ​ $ 2,136 ​ $ 2,029 ​ $ (1,426) ​ $ 3,691 ​ Effective tax rate ​ ​ (57.2) % ​ 23.6 % ​ 9.5 % ​ 23.4 %

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Share-Based Compensation Plans
Schedule of Company's stock option activity	The following table summarizes the Company’s stock option activity for the nine-month period ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ ​ ​ Exercise ​ Contractual ​ Intrinsic ​ Shares Price Term (Years) Value* Outstanding at December 31, 2019 1,176,770 ​ $ 27.14 ​ Granted 188,600 ​ $ 18.00 ​ Exercised — ​ $ — ​ Forfeited or expired (238,047) ​ $ 27.08 ​ Outstanding at September 30, 2020 1,127,323 ​ $ 25.62 5.7 ​ $ — Exercisable at September 30, 2020 641,952 ​ $ 26.77 3.3 ​ $ — * The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company's stock on September 30, 2020, the last trading day of the quarter, of $16.17 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options. The respective exercise prices of all of the Company's outstanding stock options were higher than the closing price of the Company's common stock as of September 30, 2020; therefore, the aggregate intrinsic value of the Company's stock options is zero.
Schedule of Company's stock option exercise activity	The following table summarizes the Company’s stock option exercise activity for the three and nine-month periods ended September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands) Total intrinsic value of stock options exercised ​ $ — ​ $ — ​ $ — ​ $ 88 Net proceeds from stock option exercises ​ $ — ​ $ — ​ $ — ​ $ 161 Income tax benefit from the exercise of stock options ​ $ — ​ $ — ​ $ — ​ $ 23
Schedule of Company's restricted stock award	The following table summarizes the Company’s restricted stock award activity for the nine-month period ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ Shares of ​ Average ​ Remaining ​ Aggregate ​ ​ Restricted ​ Grant Date ​ Contractual ​ Intrinsic ​ Stock Fair Value Term (Years) Value* Non-vested at December 31, 2019 68,735 ​ $ 28.04 ​ Issued 30,800 ​ ​ 18.00 ​ Vested (27,045) ​ 18.39 ​ Non-vested at September 30, 2020 72,490 ​ $ 23.77 3.0 ​ $ 1,172,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on September 30, 2020 ($16.17) multiplied by the number of non-vested restricted shares outstanding.

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2020
Comprehensive Income (Loss)
Schedule of co0mprehensive income (loss)	Comprehensive income (loss) for the three and nine months ended September 30, 2020 and 2019, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands) Net earnings ​ $ (5,869) ​ $ 6,585 ​ $ (13,590) ​ $ 12,067 Foreign currency translation adjustments ​ 751 ​ (711) ​ (217) ​ (481) Pension liability, net of tax of $49, $40, $149 and $122, respectively ​ 142 ​ 116 ​ 424 ​ 347 Total comprehensive income (loss) ​ $ (4,976) ​ $ 5,990 ​ $ (13,383) ​ $ 11,933 ​
Schedule of accumulated other comprehensive loss	The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 ​ ​ (Dollars in thousands) Foreign currency translation adjustments ​ $ (7,250) ​ $ (7,033) Pension liability, net of tax ​ (17,079) ​ (17,503) Total accumulated other comprehensive loss ​ $ (24,329) ​ $ (24,536)
Schedule of changes in accumulated other comprehensive loss	The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the nine months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ ​ ​ ​ Translation ​ Defined Benefit ​ ​ ​ ​ ​ Adjustments ​ Pension Items ​ Total Beginning balance, December 31, 2019 ​ $ (7,033) ​ $ (17,503) ​ $ (24,536) Other comprehensive loss before reclassifications ​ (217) ​ — ​ (217) Amounts reclassified from accumulated other comprehensive loss ​ — ​ 424 ​ 424 Net current period other comprehensive (loss) income ​ (217) ​ 424 ​ 207 Ending balance, September 30, 2020 ​ $ (7,250) ​ $ (17,079) ​ $ (24,329)
Schedule of reclassification adjustments out of accumulated other comprehensive loss	The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the nine months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified ​ ​ ​ from accumulated other ​ ​ ​ ​ comprehensive loss for the ​ Affected line item in the ​ ​ nine months ended September 30, ​ statement where net income ​ 2020 is presented ​ ​ ​ ​ ​ ​ Amortization of defined benefit pension items ​ Prior service cost ​ $ (47) (1) Other income (expense), net Actuarial losses ​ 620 (1) Other income (expense), net Total before tax ​ 573 Tax benefit ​ (149) Net of tax ​ $ 424 (1) These amounts were included in net periodic pension cost. See Note 8 for additional details .

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Equity
Schedule of reconciliation of company's equity	The following table reconciles the Company’s equity for the nine months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ Other ​ ​ Common ​ Excess of ​ Reinvested ​ Comprehensive ​ Stock Par Value Earnings Loss ​ ​ (Dollars in thousands) Balance, December 31, 2019 ​ $ 9,873 ​ $ 65,832 ​ $ 158,825 ​ $ (24,536) Net earnings ​ — ​ — ​ 1,162 ​ — Foreign currency translation adjustments ​ — ​ — ​ — ​ (2,558) Pension liability adjustment, net of tax ​ — ​ — ​ — ​ 138 Cash dividends declared ​ — ​ — ​ (2,357) ​ — Share-based compensation expense ​ ​ — ​ ​ 351 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (60) ​ ​ — ​ ​ (1,244) ​ ​ — Balance, March 31,2020 ​ $ 9,813 ​ $ 66,183 ​ $ 156,386 ​ $ (26,956) Net earnings (loss) ​ ​ — ​ ​ — ​ ​ (8,883) ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,590 Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 144 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,355) ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 350 ​ ​ — ​ ​ — Balance, June 30,2020 ​ $ 9,813 ​ $ 66,533 ​ $ 145,148 ​ $ (25,222) Net earnings (loss) ​ ​ — ​ ​ — ​ ​ (5,869) ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ 751 Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 142 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,363) ​ ​ — Issuance of restricted stock ​ ​ 31 ​ ​ (31) ​ ​ — ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 362 ​ ​ — ​ ​ — Balance, September 30,2020 ​ $ 9,844 ​ $ 66,864 ​ $ 136,916 ​ $ (24,329) ​ The following table reconciles the Company’s equity for the nine months ended September 30, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ Other ​ ​ Common ​ Excess of ​ Reinvested ​ Comprehensive ​ Stock Par Value Earnings Loss ​ (Dollars in thousands) Balance, December 31, 2018 ​ $ 10,057 ​ $ 64,263 ​ $ 152,835 ​ $ (21,572) Net earnings ​ — ​ — ​ 3,968 ​ — Foreign currency translation adjustments ​ — ​ — ​ — ​ 130 Pension liability adjustment, net of tax ​ — ​ — ​ — ​ 108 Cash dividends declared ​ — ​ — ​ (2,299) ​ — Common stock issued under equity incentive plans, net of shares withheld for emloyee taxes and strike price ​ ​ 1 ​ ​ 6 ​ ​ — ​ ​ — Issuance of restricted stock ​ ​ 1 ​ ​ (1) ​ ​ — ​ ​ — Share-based compensation expense ​ — ​ ​ 366 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (64) ​ ​ — ​ ​ (1,764) ​ ​ — Balance, March 31, 2019 ​ $ 9,995 ​ $ 64,634 ​ $ 152,740 ​ $ (21,334) Net earnings ​ ​ — ​ ​ — ​ ​ 1,514 ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ 100 Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 123 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,401) ​ ​ — Common stock issued under equity incentive plans, net of shares withheld for emloyee taxes and strike price ​ ​ 7 ​ ​ 142 ​ ​ — ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 365 ​ ​ — ​ ​ — Balance, June 30,2019 ​ $ 10,002 ​ $ 65,141 ​ $ 151,853 ​ $ (21,111) Net earnings ​ ​ — ​ ​ — ​ ​ 6,585 ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ (711) Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 116 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,395) ​ ​ — Issuance of restricted stock ​ ​ 30 ​ ​ (30) ​ ​ — ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 371 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (91) ​ ​ — ​ ​ (2,110) ​ ​ — Balance, September 30, 2019 ​ $ 9,941 ​ $ 65,482 ​ $ 153,933 ​ $ (21,706)

Accounts Receivable (Details)

Accounts Receivable (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)customer	Aug. 31, 2020USD ($)	Jun. 30, 2020USD ($)	May 31, 2020USD ($)	Dec. 31, 2019USD ($)
Accounts Receivable
Accounts receivable, net	$ 39,463				$ 51,532
J.C. Penney Company, Inc
Accounts Receivable
Number of customers files for bankruptcy | customer	2
Accounts receivable, net				$ 3,300
Wrote-off of receivable			$ 3,300
Tailored Brands, Inc [Member]
Accounts Receivable
Accounts receivable, net		$ 1,100
Wrote-off of receivable	$ 1,100

Impairment of Long-Lived Asse_2

Impairment of Long-Lived Assets (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Impairment of Long-Lived Assets
Impairment of retail store fixed assets		$ 1.9
Impairment of operating lease right-of-use assets	$ 1.2	$ 1.2

Earnings (Loss) Per Share - Ear

Earnings (Loss) Per Share - Earning per share basic and diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net earnings (loss)	$ (5,869)	$ 6,585	$ (13,590)	$ 12,067
Denominator:
Basic weighted average shares outstanding (in shares)	9,756	9,912	9,760	9,933
Effect of dilutive securities:
Employee share-based awards (in shares)		17		63
Diluted weighted average shares outstanding (in shares)	9,756	9,929	9,760	9,996
Basic earnings (loss) per share	$ (0.60)	$ 0.66	$ (1.39)	$ 1.21
Diluted earnings (loss) per share	$ (0.60)	$ 0.66	$ (1.39)	$ 1.21

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings (Loss) Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1,169,000	1,382,000	1,181,000	696,000
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 24.71	$ 26.56	$ 26.06	$ 28.51

Investments - Marketable Securi

Investments - Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 1,955	$ 5,904
Municipal Bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	1,955	5,904
Amortized Cost, Due from one through five years	7,031	8,336
Amortized Cost, Due from six through ten years	4,149	4,255
Amortized Cost, Due from eleven through twenty years	2,523	3,223
Amortized Cost, Total	15,658	21,718
Market Value, Current	1,977	5,915
Market Value, Due from one through five years	7,388	8,621
Market Value, Due from six through ten years	4,756	4,618
Market Value, Due from eleven through twenty years	2,741	3,430
Market Value, Total	$ 16,862	$ 22,584

Investments - Unrealized gains

Investments - Unrealized gains and losses (Details) - Municipal Bonds [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Net Investment Income [Line Items]
Unrealized Gains	$ 1,204	$ 866
Unrealized Losses	$ 0	$ 0

Intangible Assets - Company's a

Intangible Assets - Company's amortizable intangible assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Amortizable intangible assets:
Gross Carrying Amount	$ 3,500	$ 3,500
Accumulated Amortization	(2,236)	(2,061)
Net	$ 1,264	1,439
Customer Relationships [Member]
Amortizable intangible assets:
Weighted Average Life (Years)	15 years
Gross Carrying Amount	$ 3,500	3,500
Accumulated Amortization	(2,236)	(2,061)
Net	$ 1,264	$ 1,439

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Intangible Assets
Amortization of Intangible Assets	$ 58,000	$ 58,000	$ 175,000	$ 175,000
Fair value of the Company's wholesale reporting unit exceeded its carrying value, percentage			21.00%
Goodwill impairment			$ 0
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 0

Segment Information - Schedule

Segment Information - Schedule of segment data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 53,178	$ 82,502	$ 133,408	$ 217,106
Earnings (loss) from operations	(3,840)	8,489	(15,512)	15,499
Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	52,954	81,872	132,582	215,133
Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	224	630	826	1,973
Wholesale [Member]
Segment Reporting Information [Line Items]
Net sales	44,012	67,823	106,019	173,356
Earnings (loss) from operations	2,752	9,485	(4,664)	16,903
Wholesale [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	43,788	67,193	105,193	171,383
Wholesale [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	224	630	826	1,973
Retail Segment [Member]
Segment Reporting Information [Line Items]
Net sales	4,367	5,158	12,768	16,124
Earnings (loss) from operations	(2,796)	365	(3,741)	1,249
Retail Segment [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	4,367	5,158	12,768	16,124
Retail Segment [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Other Segment [Member]
Segment Reporting Information [Line Items]
Net sales	4,799	9,521	14,621	27,626
Earnings (loss) from operations	(3,796)	(1,361)	(7,107)	(2,653)
Other Segment [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	4,799	9,521	14,621	27,626
Other Segment [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0

Segment Information - Additiona

Segment Information - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Jun. 30, 2020
Segment Information
Impairment of retail store fixed assets		$ 1.9
Impairment of operating lease right-of-use assets	$ 1.2	1.2
Tailored Brands, Inc [Member]
Segment Information
Wrote-off of receivable	1.1	1.1
J.C. Penney Company, Inc
Segment Information
Wrote-off of receivable			$ 3.3
Wholesale [Member] | Tailored Brands, Inc [Member]
Segment Information
Wrote-off of receivable	1.1	1.1
Employee costs	0.5
Reserves for obsolete and slow moving inventory	0.5
Other related charges	0.2
Income from government wage subsidies	0.3
Wholesale [Member] | J.C. Penney Company, Inc
Segment Information
Wrote-off of receivable	4.4	4.4
Employee costs		1.9
Reserves for obsolete and slow moving inventory		0.5
Other related charges		0.2
Income from government wage subsidies		1.6
Retail Segment [Member]
Segment Information
Employee costs	0.1	0.1
Early lease termination charges	1.5	1.5
Impairment of retail store fixed assets	1	1
Other Segment [Member]
Segment Information
Employee costs	1.1	2
Reserves for obsolete and slow moving inventory	0.5	1.6
Other related charges	0.2	0.6
Income from government wage subsidies	1.1	2.5
Impairment of retail store fixed assets	$ 2.1	$ 2.1

Employee Retirement Plans (Deta

Employee Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Components of the Company's net periodic pension cost
Service cost	$ 115	$ 116	$ 345	$ 347
Interest cost	502	615	1,508	1,845
Expected return on plan assets	(693)	(625)	(2,081)	(1,876)
Net amortization and deferral	191	156	573	469
Net periodic pension cost	$ 115	$ 262	$ 345	$ 785

Leases - Operating lease costs

Leases - Operating lease costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases
Operating lease costs	$ 1,652	$ 2,198	$ 5,237	$ 6,590
Variable lease costs	0	0	12	43
Total lease costs	$ 1,652	$ 2,198	$ 5,249	$ 6,633

Leases - Maturities of operatin

Leases - Maturities of operating lease liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases
2020, excluding the nine months ended September 30, 2020	$ 1,301
2021	4,559
2022	3,309
2023	2,270
2024	1,505
Thereafter	2,830
Total lease payments	15,774
Less imputed interest	(1,344)
Present value of lease liabilities	$ 14,430	$ 20,615

Leases - Operating lease liabil

Leases - Operating lease liabilities classification (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases
Operating lease liabilities - current	$ 4,468	$ 6,505
Operating lease liabilities - non-current	9,962	14,110
Total	$ 14,430	$ 20,615

Leases - Supplemental cash flow

Leases - Supplemental cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases
Cash paid for amounts included in the measurement of lease liabilities	$ 2,174	$ 2,278	$ 5,424	$ 6,803
Right-of-use assets obtained in exchange for new lease liabilities (noncash)	$ 72	$ 0	$ 216	$ 27,002

Leases - Additional information

Leases - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Leases
Operating Lease, Weighted Average Discount Rate, Percent	4.25%	4.25%
Operating Lease, Weighted Average Remaining Lease Term	4 years 7 months 17 days	4 years 7 months 17 days
Impairment of operating lease right-of-use assets	$ 1,200	$ 1,200
impairment of long-lived assets	$ 3,100	$ 3,055	$ 0

Income Taxes - Schedule of effe

Income Taxes - Schedule of effective tax rate (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Taxes
Earnings (loss) before provision (benefit) for income taxes	$ (3,733)	$ 8,614	$ (15,016)	$ 15,758
Income tax provision (benefit)	$ 2,136	$ 2,029	$ (1,426)	$ 3,691
Effective tax rate	(57.20%)	23.60%	9.50%	23.40%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Income Taxes
Tax expense related to deferred tax assets	$ 2
U.S. federal statutory tax rate	35.00%

Share-Based Compensation Plan_2

Share-Based Compensation Plans - Company's stock option activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair market value of options granted (in dollars per share)	$ 16.17
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at beginning of period | shares	1,176,770
Shares, Granted | shares	188,600
Shares, Forfeited or expired | shares	(238,047)
Shares, Outstanding at end of period | shares	1,127,323
Shares, Exercisable at end of period | shares	641,952
Weighted Average Exercise Price, Outstanding at beginning of period (in dollars per share)	$ 27.14
Weighted Average Exercise Price, Granted (in dollars per share)	18
Weighted Average Exercise Price, Forfeited or expired (in dollars per share)	27.08
Weighted Average Exercise Price, Outstanding at end of period (in dollars per share)	25.62
Weighted Average Exercise Price, Exercisable at end of period (in dollars per share)	$ 26.77
Weighted Average Remaining Contractual Life (Years), Outstanding - September 30, 2020	5 years 8 months 12 days
Weighted Average Remaining Contractual Life (Years), Exercisable - September 30, 2020	3 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding at September 30, 2020 | $	$ 0
Aggregate Intrinsic Value, Exercisable at September 30, 2020 | $	$ 0

Share-Based Compensation Plan_3

Share-Based Compensation Plans - Company's stock option exercise activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-Based Compensation Plans
Total intrinsic value of stock options exercised	$ 0	$ 0	$ 0	$ 88
Net proceeds from stock option exercises	0	0	0	161
Income tax benefit from the exercise of stock options	$ 0	$ 0	$ 0	$ 23

Share-Based Compensation Plan_4

Share-Based Compensation Plans - Company's restricted stock award activity (Details) - Restricted Stock [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Restricted Stock, Non-vested beginning of period | shares	68,735
Shares of Restricted Stock, Issued | shares	30,800
Shares of Restricted Stock, Vested | shares	(27,045)
Shares of Restricted Stock, Non-vested end of period | shares	72,490
Weighted Average Grant Date Fair Value, Non-vested beginning of period (in dollars per share) | $ / shares	$ 28.04
Weighted Average Grant Date Fair Value, Issued (in dollars per share) | $ / shares	18
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	18.39
Weighted Average Grant Date Fair Value, Non-vested end of period (in dollars per share) | $ / shares	$ 23.77
Weighted Average Remaining Contractual Term (Years)	3 years
Aggregate Intrinsic Value | $	$ 1,172,000

Share-Based Compensation Plan_5

Share-Based Compensation Plans - Additional information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-Based Compensation Plans
Allocated Share-based Compensation Expense	$ 362,000	$ 371,000	$ 1,063,000	$ 1,102,000

Short-Term Borrowings (Details)

Short-Term Borrowings (Details) - USD ($) $ in Millions	Nov. 04, 2020	Sep. 30, 2020
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Amount Outstanding During Period		$ 8.5
London Interbank Offered Rate (LIBOR) [Member]
Short-term Debt [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.75%
London Interbank Offered Rate (LIBOR) [Member] | Subsequent Event [Member] | Associated Bank, National Association
Short-term Debt [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.35%
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Amount, Total		$ 60
Outstanding borrowings		$ 5.2
Interest rate		0.90%
Revolving Credit Facility [Member] | Subsequent Event [Member] | Associated Bank, National Association
Short-term Debt [Line Items]
Line of Credit Facility, Amount, Total	$ 30

Financial Instruments (Details)

Financial Instruments (Details) - Sep. 30, 2020 $ in Millions, $ in Millions, $ in Millions	CAD ($)	USD ($)	AUD ($)
Foreign Exchange Contracts, Canadian [Member]
Foreign exchange contracts outstanding	$ 3	$ 2.3
Foreign Exchange Contracts Australian [Member]
Foreign exchange contracts outstanding		$ 2.1	$ 2.9

Comprehensive Income (Loss) - C

Comprehensive Income (Loss) - Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Comprehensive Income (Loss)
Net earnings	$ (5,869)	$ 6,585	$ (13,590)	$ 12,067
Foreign currency translation adjustments	751	(711)	(217)	(481)
Pension liability, net of tax of $49, $40, $149 and $122, respectively	142	116	424	347
Comprehensive income (loss)	$ (4,976)	$ 5,990	$ (13,383)	$ 11,933

Comprehensive Income (Loss) - A

Comprehensive Income (Loss) - Accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Comprehensive Income (Loss)
Foreign currency translation adjustments	$ (7,250)	$ (7,033)
Pension liability, net of tax	(17,079)	(17,503)
Total accumulated other comprehensive loss	$ (24,329)	$ (24,536)

Comprehensive Income (Loss) -_2

Comprehensive Income (Loss) - Changes in accumulated comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Comprehensive Income (Loss)
Foreign Currency Translation Adjustments, Beginning balance			$ (7,033)
Foreign Currency Translation Adjustments, Other comprehensive income before reclassifications			(217)
Foreign Currency Translation Adjustments, Amounts reclassified from accumulated other comprehensive loss			0
Foreign Currency Translation Adjustments, Net current period other comprehensive (loss) income			(217)
Foreign Currency Translation Adjustments, Ending balance	$ (7,250)		(7,250)
Defined Benefit Pension Items, Beginning balance			(17,503)
Defined Benefit Pension Items, Other comprehensive loss before reclassifications			0
Defined Benefit Pension Items, Amounts reclassified from accumulated other comprehensive loss	142	$ 116	424	$ 347
Defined Benefit Pension Items, Net current period other comprehensive (loss) income			424
Defined Benefit Pension Items, Ending balance	(17,079)		(17,079)
Beginning balance			(24,536)
Other comprehensive loss before reclassifications			(217)
Amounts reclassified from accumulated other comprehensive loss			424
Net current period other comprehensive (loss) income			207
Ending balance	$ (24,329)		$ (24,329)

Comprehensive Income (Loss) - R

Comprehensive Income (Loss) - Reclassification adjustments out of accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Amortization of defined benefit pension items
Prior service cost			$ (47)
Actuarial losses			620
Total before tax			573
Tax benefit			(149)
Net of tax	$ 142	$ 116	$ 424	$ 347

Comprehensive Income (Loss) -_3

Comprehensive Income (Loss) - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Defined Benefit Plan, after Reclassification Adjustment, Tax	$ 49	$ 40	$ 149	$ 122

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Balance			$ 209,994				$ 209,994
Net earnings (loss)	$ (5,869)			$ 6,585			(13,590)	$ 12,067
Foreign currency translation adjustments	751			(711)			(217)	(481)
Pension liability adjustment, net of tax							(424)
Balance	189,295						189,295
Common Stock
Balance	9,813	$ 9,813	9,873	10,002	$ 9,995	$ 10,057	9,873	10,057
Net earnings (loss)	0	0	0	0	0	0
Foreign currency translation adjustments	0	0	0	0	0	0
Pension liability adjustment, net of tax	0	0	0	0	0	0
Cash dividends declared	0	0	0	0	0	0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price					7	1
Issuance of restricted stock	31			30		1
Share-based compensation expense	0	0	0	0	0	0
Shares purchased and retired			(60)	(91)		(64)
Balance	9,844	9,813	9,813	9,941	10,002	9,995	9,844	9,941
Capital in Excess of Par Value
Balance	66,533	66,183	65,832	65,141	64,634	64,263	65,832	64,263
Net earnings (loss)	0	0	0	0	0	0
Foreign currency translation adjustments	0	0	0	0	0	0
Pension liability adjustment, net of tax	0	0	0	0	0	0
Cash dividends declared	0	0	0	0	0	0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price					142	6
Issuance of restricted stock	(31)			(30)		(1)
Share-based compensation expense	362	350	351	371	365	366
Shares purchased and retired			0	0		0
Balance	66,864	66,533	66,183	65,482	65,141	64,634	66,864	65,482
Reinvested Earnings
Balance	145,148	156,386	158,825	151,853	152,740	152,835	158,825	152,835
Net earnings (loss)	(5,869)	(8,883)	1,162	6,585	1,514	3,968
Foreign currency translation adjustments	0	0	0	0	0	0
Pension liability adjustment, net of tax	0	0	0	0	0	0
Cash dividends declared	(2,363)	(2,355)	(2,357)	(2,395)	(2,401)	(2,299)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price					0	0
Issuance of restricted stock	0			0		0
Share-based compensation expense	0	0	0	0	0	0
Shares purchased and retired			(1,244)	(2,110)		(1,764)
Balance	136,916	145,148	156,386	153,933	151,853	152,740	136,916	153,933
Accumulated Other Comprehensive Loss
Balance	(25,222)	(26,956)	(24,536)	(21,111)	(21,334)	(21,572)	(24,536)	(21,572)
Net earnings (loss)	0	0	0	0	0	0
Foreign currency translation adjustments	751	1,590	(2,558)	(711)	100	130
Pension liability adjustment, net of tax	142	144	138	116	123	108
Cash dividends declared	0	0	0	0	0	0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price					0	0
Issuance of restricted stock	0			0		0
Share-based compensation expense	0	0	0	0	0	0
Shares purchased and retired			0	0		0
Balance	$ (24,329)	$ (25,222)	$ (26,956)	$ (21,706)	$ (21,111)	$ (21,334)	$ (24,329)	$ (21,706)