Weyco (WEYS) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
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		9,750,389
Amendment Flag	false
Document Fiscal Year Focus	2021
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, 2021	Dec. 31, 2020
ASSETS:
Cash and cash equivalents	$ 18,852	$ 32,476
Investments, at fair value	15,162	0
Marketable securities, at amortized cost	751	2,215
Accounts receivable, net	43,307	34,631
Income tax receivable	1,328	1,374
Inventories	52,941	59,025
Prepaid expenses and other current assets	3,862	4,610
Total current assets	136,203	134,331
Marketable securities, at amortized cost	10,638	12,800
Deferred income tax benefits	1,153	1,235
Property, plant and equipment, net	29,582	30,759
Operating lease right-of-use assets	7,484	9,613
Goodwill	12,219	11,112
Trademarks	34,768	32,868
Other assets	24,371	24,001
Total assets	256,418	256,719
LIABILITIES AND EQUITY:
Accounts payable	7,100	8,444
Operating lease liabilities	2,018	4,245
Accrued liabilities	12,402	11,656
Total current liabilities	21,520	24,345
Deferred income tax liabilities	2,881	2,914
Long-term pension liability	32,506	33,534
Operating lease liabilities	7,102	7,734
Other long-term liabilities	1,626	267
Total liabilities	65,635	68,794
Common stock	9,750	9,797
Capital in excess of par value	68,352	67,178
Reinvested earnings	140,706	138,955
Accumulated other comprehensive loss	(28,025)	(28,005)
Total equity	190,783	187,925
Total liabilities and equity	$ 256,418	$ 256,719

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (UNAUDITED)
Net sales	$ 61,798	$ 53,178	$ 166,262	$ 133,408
Cost of sales	37,054	32,841	99,543	82,403
Gross earnings	24,744	20,337	66,719	51,005
Selling and administrative expenses	17,998	24,177	53,797	66,517
Earnings (loss) from operations	6,746	(3,840)	12,922	(15,512)
Interest income	186	121	505	408
Interest expense		(6)	(81)	(59)
Other income (expense), net	76	(8)	403	147
Earnings (loss) before provision (benefit) for income taxes	7,008	(3,733)	13,749	(15,016)
Provision (benefit) for income taxes	1,939	2,136	3,535	(1,426)
Net earnings (loss)	$ 5,069	$ (5,869)	$ 10,214	$ (13,590)
Basic weighted average shares outstanding (in shares)	9,655	9,756	9,663	9,760
Diluted weighted average shares outstanding (in shares)	9,702	9,756	9,691	9,760
Basic earnings (loss) per share (in dollars per share)	$ 0.53	$ (0.60)	$ 1.06	$ (1.39)
Diluted earnings (loss) per share (in dollars per share)	0.52	(0.60)	1.05	(1.39)
Cash dividends declared (per share)	$ 0.24	$ 0.24	$ 0.72	$ 0.72
Comprehensive income (loss)	$ 4,651	$ (4,976)	$ 10,194	$ (13,383)

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings (loss)	$ 10,214	$ (13,590)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities -
Depreciation	1,876	2,256
Amortization	234	234
Bad debt expense	52	5,102
Deferred income taxes	(144)	1,854
Net foreign currency transaction (gains) losses	(121)	37
Share-based compensation expense	1,210	1,063
Pension expense		345
Impairment of long-lived assets		3,055
Increase in cash surrender value of life insurance	(339)	(250)
Changes in operating assets and liabilities - net of effects from acquisition
Accounts receivable	(8,648)	6,908
Inventories	6,826	10,528
Prepaid expenses and other assets	598	2,963
Accounts payable	(1,368)	(6,187)
Accrued liabilities and other	(745)	(3,494)
Accrued income taxes	39	(3,985)
Net cash provided by operating activities	9,684	6,839
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquistion of business	(2,612)	0
Proceeds from maturities of marketable securities	3,615	6,045
Purchases of investment securities	(35,000)	0
Proceeds from sale of investment securities	19,838	0
Life insurance premiums paid	(111)	(155)
Purchases of property, plant and equipment	(673)	(3,151)
Net cash (used for) provided by investing activities	(14,943)	2,739
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(6,904)	(9,361)
Shares purchased and retired	(1,535)	(1,304)
Proceeds from bank borrowings		32,855
Repayments of bank borrowings		(34,724)
Net cash used for financing activities	(8,439)	(12,534)
Effect of exchange rate changes on cash and cash equivalents	74	15
Net decrease in cash and cash equivalents	(13,624)	(2,941)
CASH AND CASH EQUIVALENTS at beginning of period	32,476	9,799
CASH AND CASH EQUIVALENTS at end of period	18,852	6,858
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	3,693	638
Interest paid	$ 81	$ 52

Financial Statements

Financial Statements	9 Months Ended
	Sep. 30, 2021
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, 2021, 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 that affect the reported 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.

Forsake Acquisition

Forsake Acquisition	9 Months Ended
	Sep. 30, 2021
Forsake Acquisition
Forsake Acquisition	2. Forsake Acquisition On June 7, 2021, the Company acquired substantially all of the operating assets and certain liabilities of Forsake, Inc. (“Forsake”), a distributor of outdoor footwear, under the brand name “Forsake.” The principal assets acquired were inventory, accounts receivable, and intellectual property, including the Forsake brand name. The aggregate purchase price was approximately $ 2.6 million, plus contingent payments to be paid annually over a period of five years , depending on Forsake achieving certain performance measures. The Company’s estimate of the discounted fair value of the contingent payments is approximately $ 1.4 million in total. The $ 2.6 million purchase price, which was funded with the Company’s available cash , was subject to working capital adjustments through a specified date in November 2021. Working capital adjustments, principally related to the collectability of accounts receivable, are not expected to be material. The establishment of the contingent consideration liability as of the acquisition date is considered a non-cash investing activity. There were no adjustments to the contingent consideration liability from the acquisition date through September 30, 2021. Transaction costs incurred in connection with the acquisition were not material to the Company’s financial statements. The Company recorded its preliminary purchase price allocation during the second quarter of 2021 based upon its estimates of the fair value of the acquired assets and assumed liabilities at that time. The fair values assigned to the assets acquired and liabilities assumed as of the acquisition date are as follows: ​ ​ ​ ​ ​ Accounts receivable, net $ 157 Inventories ​ 755 Prepaid expenses and other current assets ​ ​ 68 Property, plant and equipment, net ​ 17 Goodwill ​ 1,107 Trademark ​ 1,900 Accrued liabilities ​ (35) ​ ​ $ 3,969 ​ The Company recorded $ 3.0 million of intangible assets, including $ 1.1 million of goodwill, which has been allocated to the wholesale and retail segments, as of the acquisition date. Goodwill reflects the excess purchase price over the fair value of net assets. All of this goodwill is deductible for tax purposes. Fair value of the trademark was determined using a discounted cash flow methodology. The trademark will not be amortized, but instead tested for impairment on an annual basis. The fair values above are preliminary for up to one year from the date of acquisition as they are subject to measurement period adjustments as new information is obtained about facts and circumstances that existed as of the acquisition date. The Company does not expect any material changes to the preliminary purchase price allocation summarized above, although it can make no assurances. ​ The accompanying consolidated condensed financial statements include the results of Forsake from the date of acquisition through September 30, 2021. During this period, Forsake’s total sales were approximately $524,000, of which $281,000 was recognized in the wholesale segment and $243,000 was recognized in the retail segment. Pro forma financial information is not presented as the effects of this acquisition are not material to the Company’s results of operations or financial position.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
New Accounting Pronouncements
New Accounting Pronouncements	3. New Accounting Pronouncements Recently Adopted On January 1, 2021, the Company adopted Accounting Standards Update (“ASU”) 2019-12 Simplifying the Accounting for Income Taxes In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurements of Credit Losses on Financial Instruments

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2021
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, ​ 2021 2020 2021 2020 ​ ​ (In thousands, except per share amounts) Numerator: ​ ​ ​ ​ ​ Net earnings (loss) ​ $ 5,069 ​ $ (5,869) ​ $ 10,214 ​ $ (13,590) ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ 9,655 ​ 9,756 ​ 9,663 ​ 9,760 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ Employee share-based awards ​ 47 ​ — ​ 28 ​ — Diluted weighted average shares outstanding ​ 9,702 ​ 9,756 ​ 9,691 ​ 9,760 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per share ​ $ 0.53 ​ $ (0.60) ​ $ 1.06 ​ $ (1.39) ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings (loss) per share ​ $ 0.52 ​ $ (0.60) ​ $ 1.05 ​ $ (1.39) ​ Diluted weighted average shares outstanding for the three months ended September 30, 2021 excludes anti-dilutive share-based awards totaling 1,127,000 shares of common stock at a weighted average price of $26.14. Diluted weighted average shares outstanding for the nine months ended September 30, 2021 excludes anti-dilutive share-based awards totaling 1,074,000 shares of common stock at a weighted average price of $25.95. Results for the three and nine month periods ended September 30, 2020 were net losses; 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.

Investments

Investments	9 Months Ended
	Sep. 30, 2021
Investments
Investments	5. Investments Investments, at fair value During the first nine months of 2021, the Company invested $15.2 million of cash in highly liquid fixed income funds. The Company classifies these investments as trading securities and reports them at fair value. There were no significant unrealized gains or losses on these investments in the first nine months of 2021. The fair value measurements of these investments are based on quoted market prices in active markets, and thus represent a level 1 valuation as defined by ASC 820. Marketable securities, at amortized cost The Company also invests in marketable securities. As noted in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, all of the Company’s marketable securities are classified as held-to-maturity securities and reported at amortized cost pursuant to ASC Topic 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, 2021, and December 31, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ Amortized ​ Market ​ Amortized ​ Market ​ Cost Value Cost Value ​ ​ (Dollars in thousands) Municipal bonds: ​ ​ ​ ​ Current ​ $ 751 ​ $ 755 ​ $ 2,215 ​ $ 2,249 Due from one through five years ​ 6,705 ​ 7,050 ​ 7,420 ​ 7,830 Due from six through ten years ​ 2,734 ​ 3,188 ​ 3,057 ​ 3,608 Due from eleven through twenty years ​ 1,199 ​ 1,300 ​ 2,323 ​ 2,547 Total ​ $ 11,389 ​ $ 12,293 ​ $ 15,015 ​ $ 16,234 ​ The unrealized gains and losses on marketable securities at September 30, 2021, and at December 31, 2020, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ Unrealized Unrealized Unrealized Unrealized ​ Gains Losses Gains Losses ​ ​ (Dollars in thousands) Municipal bonds ​ $ 904 ​ $ — ​ $ 1,219 ​ $ — ​ 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, 2021
Intangible Assets
Intangible Assets	6. Intangible Assets ​ The Company’s indefinite-lived intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 ​ ​ (Dollars in thousands) Indefinite-lived intangibles: ​ ​ Goodwill ​ $ 12,219 ​ $ 11,112 Trademarks ​ 34,768 ​ 32,868 Total ​ $ 46,987 ​ $ 43,980 ​ The additional goodwill and trademarks in 2021 resulted from the Forsake acquisition. Goodwill resulting from the Forsake acquisition has been allocated to the Company’s wholesale and retail segments as of the acquisition date. Changes in the carrying amount of the Company’s goodwill by reportable segment for the nine months ended September 30, 2021, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Wholesale Retail Total ​ (Dollars in thousands) Balance, December 31, 2020 ​ $ 11,112 ​ $ — ​ $ 11,112 Acquisition of business ​ 332 ​ 775 ​ 1,107 Balance, September 30, 2021 ​ $ 11,444 ​ $ 775 ​ $ 12,219 ​ 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, 2021 ​ December 31, 2020 ​ ​ 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 ​ $ (2,469) ​ $ 1,031 ​ $ 3,500 ​ $ (2,294) ​ $ 1,206 Total amortizable intangible assets ​ ​ ​ ​ $ 3,500 ​ $ (2,469) ​ $ 1,031 ​ $ 3,500 ​ $ (2,294) ​ $ 1,206 ​ Amortization expense related to the intangible assets was approximately $58,000 in both the third quarters of 2021 and 2020. For the nine months ended September 30, amortization expense related to the intangible assets was approximately $175,000 in both 2021 and 2020.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
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 months ended September 30, 2021 and 2020, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, Wholesale Retail Other Total ​ ​ (Dollars in thousands) 2021 ​ ​ ​ ​ ​ Product sales ​ $ 49,823 ​ $ 6,307 ​ $ 5,325 ​ $ 61,455 Licensing revenues ​ 343 ​ — ​ — ​ 343 Net sales ​ $ 50,166 ​ $ 6,307 ​ $ 5,325 ​ $ 61,798 Earnings (loss) from operations ​ $ 6,027 ​ $ 1,401 ​ $ (682) ​ $ 6,746 ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) (1) Included the write-off of a $1.1 million receivable related to Tailored Brands, Inc. 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) Included $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) Included $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. ​ Summarized segment data for the nine months ended September 30, 2021 and 2020, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, Wholesale Retail Other Total ​ ​ (Dollars in thousands) 2021 ​ ​ ​ ​ Product sales ​ $ 124,417 ​ $ 18,127 ​ $ 22,682 ​ $ 165,226 Licensing revenues ​ 1,036 ​ — ​ — ​ 1,036 Net sales ​ $ 125,453 ​ $ 18,127 ​ $ 22,682 ​ $ 166,262 Earnings (loss) from operations ​ $ 10,041 ​ $ 3,326 ​ $ (445) ​ $ 12,922 ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) (4) Included the write-off of $4.4 million in receivables due to two bankruptcies of large customers (J.C. Penny Company, Inc. and Tailored Brands, Inc.) 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) Included $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) Included $2.1 million for the impairment of retail 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, 2021
Employee Retirement Plans
Employee Retirement Plans	8. Employee Retirement Plans The components of the Company’s pension expense were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2021 2020 2021 2020 ​ ​ (Dollars in thousands) Service cost ​ $ 102 ​ $ 115 ​ $ 306 ​ $ 345 Interest cost ​ 371 ​ 502 ​ 1,113 ​ 1,508 Expected return on plan assets ​ (720) ​ (693) ​ (2,160) ​ (2,081) Net amortization and deferral ​ 247 ​ ​ 191 ​ 741 ​ 573 Pension expense ​ $ — ​ $ 115 ​ $ — ​ $ 345 ​ The components of pension expense other than the service cost component were included in other income (expense), net in the Consolidated Condensed Statements of Earnings and Comprehensive Income (Unaudited).

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases
Leases	9. Leases The Company leases retail shoe stores, as well as several offices and distribution facilities worldwide. The leases have original lease periods expiring between the remainder of 2021 and 2027. 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. The components of the Company’s operating lease costs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ 2021 2020 2021 2020 ​ ​ (Dollars in thousands) Operating lease costs $ 1,151 ​ $ 1,652 $ 3,717 ​ $ 5,237 Variable lease costs (1) ​ ​ 67 ​ ​ — ​ ​ 124 ​ ​ 12 Total lease costs $ 1,218 ​ $ 1,652 $ 3,841 ​ $ 5,249 (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, 2021: ​ ​ ​ ​ ​ ​ Operating Leases ​ ​ (Dollars in thousands) 2021, excluding the nine months ended September 30, 2021 $ 978 2022 3,462 2023 2,617 2024 1,865 2025 1,215 Thereafter 1,442 Total lease payments 11,579 Less imputed interest (2,459) Present value of lease liabilities $ 9,120 ​ The operating lease liabilities are classified in the consolidated condensed balance sheets (unaudited) as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 ​ ​ (Dollars in thousands) Operating lease liabilities - current ​ $ 2,018 ​ $ 4,245 Operating lease liabilities - non-current ​ ​ 7,102 ​ ​ 7,734 Total ​ $ 9,120 ​ $ 11,979 ​ The Company determined the present value of its lease liabilities using a weighted-average discount rate of 4.25%. As of September 30, 2021, the Company’s leases have a weighted-average remaining lease term of 2.92 years. Supplemental cash flow information related to the Company’s operating leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2021 2020 2021 2020 ​ ​ ​ (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 1,024 ​ $ 2,174 ​ $ 3,629 ​ $ 5,424 Right-of-use assets obtained in exchange for new lease liabilities (noncash) ​ $ 244 ​ $ 72 ​ $ 2,266 ​ $ 216 ​

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
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, 2021 and 2020 are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 ​ ​ ​ (Dollars in thousands) ​ Earnings (loss) before provision (benefit) for income taxes ​ $ 7,008 ​ $ (3,733) ​ $ 13,749 ​ $ (15,016) ​ Provision (benefit) for income taxes ​ $ 1,939 ​ $ 2,136 ​ $ 3,535 ​ $ (1,426) ​ Effective tax rate ​ ​ 27.7 % ​ (57.2) % ​ 25.7 % ​ 9.5 % ​ Last year’s third quarter and year-to-date income tax provisions included $2.0 million of tax expense related to deferred tax assets of the Company’s foreign subsidiaries. The 2020 effective tax rates were also impacted because the Company did not record an income tax benefit on foreign subsidiary losses, and, in the U.S., the Company had the ability to carry back 2020 losses to a tax year when the U.S. federal statutory tax rate was 35%, which is 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, 2021
Share-Based Compensation Plans
Share-Based Compensation Plans	11. Share-Based Compensation Plans During the three and nine months ended September 30, 2021, the Company recognized $338,000 and $1,210,000 respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2017 through 2021. 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 first quarter of 2021, the Company’s Board of Directors approved extending the expiration date of stock options granted in years 2015 and 2016. The original expiration date of the stock options granted in 2015 was August 25, 2021, and was extended by two years to August 25, 2023. The original expiration date of the stock options granted in 2016 was August 25, 2022, and was extended by one year to August 25, 2023. The Company recorded an additional $232,000 of compensation expense in the first quarter of 2021 due to the extension of the exercise periods. The following table summarizes the Company’s stock option activity for the nine-month period ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ ​ ​ Exercise ​ Contractual ​ Intrinsic ​ Shares Price Term (Years) Value* Outstanding at December 31, 2020 1,125,383 ​ $ 25.62 ​ Granted 186,900 ​ $ 24.00 ​ Exercised (1,200) ​ $ 18.00 ​ Forfeited or expired (27,015) ​ $ 24.22 ​ Outstanding at September 30, 2021 1,284,068 ​ $ 25.43 5.4 ​ $ 829,000 Exercisable at September 30, 2021 769,857 ​ $ 26.58 4.1 ​ $ 171,000 * 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, 2021 of $22.66 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options. The following table summarizes the Company’s stock option exercise activity for the three and nine-month periods ended September 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 ​ (Dollars in thousands) Total intrinsic value of stock options exercised ​ $ 8 ​ $ — ​ $ 8 ​ $ — Net proceeds from stock option exercises ​ $ — ​ $ — ​ $ — ​ $ — Income tax benefit from the exercise of stock options ​ $ 2 ​ $ — ​ $ 2 ​ $ — ​ The following table summarizes the Company’s restricted stock award activity for the nine-month period ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ Shares of ​ Average ​ Remaining ​ Aggregate ​ ​ Restricted ​ Grant Date ​ Contractual ​ Intrinsic ​ Stock Fair Value Term (Years) Value* Non-vested at December 31, 2020 72,490 ​ $ 23.77 ​ Issued 36,325 ​ ​ 24.00 ​ Vested (30,345) ​ 24.41 ​ Non-vested at September 30, 2021 78,470 ​ $ 23.11 3.0 ​ $ 1,778,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company’s stock on September 30, 2021 of $22.66 multiplied by the number of non-vested restricted shares outstanding.

Short-Term Borrowings

Short-Term Borrowings	9 Months Ended
	Sep. 30, 2021
Short-Term Borrowings
Short-Term Borrowings	12. Short-Term Borrowings At September 30, 2021, the Company had a $30 million revolving line of credit with a bank that is secured by a lien against the Company’s general corporate assets. The line of credit bears interest at LIBOR plus 1.35%. The related credit agreement contains customary representations, warranties, and covenants (including a minimum tangible net worth financial covenant) for a facility of this type. At September 30, 2021, and during the nine-months then ended, there were no amounts outstanding under the line of credit. On November 4, 2021, the Company renewed the line of credit agreement , with an increased borrowing limit of $40 million. The new agreement expires on November 4, 2022. The other principal terms of the new agreement are substantially unchanged.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2021
Financial Instruments
Financial Instruments	13. Financial Instruments At September 30, 2021, the Company had one foreign exchange contract outstanding to sell $3.0 million Canadian dollars at a price of approximately $2.4 million U.S. dollars. This contract expires in the fourth quarter of 2021. The Company’s wholly-owned subsidiary, Florsheim Australia, had foreign exchange contracts outstanding to buy $3.5 million U.S. dollars at a price of approximately $4.5 million Australian dollars. Florsheim Australia’s contracts expire on or before June 30, 2022. 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, 2021
Comprehensive Income (Loss)
Comprehensive Income (Loss)	14. Comprehensive Income (Loss) Comprehensive income (loss) for the three and nine months ended September 30, 2021 and 2020, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2021 2020 2021 2020 ​ ​ (Dollars in thousands) Net earnings (loss) ​ $ 5,069 ​ $ (5,869) ​ $ 10,214 ​ $ (13,590) Foreign currency translation adjustments ​ (601) ​ 751 ​ (568) ​ (217) Pension liability, net of tax of $64, $49, $193 and $149, respectively ​ 183 ​ 142 ​ 548 ​ 424 Total comprehensive income (loss) ​ $ 4,651 ​ $ (4,976) ​ $ 10,194 ​ $ (13,383) ​ The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 ​ ​ (Dollars in thousands) Foreign currency translation adjustments ​ $ (6,618) ​ $ (6,050) Pension liability, net of tax ​ (21,407) ​ (21,955) Total accumulated other comprehensive loss ​ $ (28,025) ​ $ (28,005) ​ The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ Defined ​ ​ ​ ​ Currency Benefit ​ ​ ​ ​ Translation ​ Pension ​ ​ ​ ​ ​ Adjustments ​ Items ​ Total Beginning balance, December 31, 2020 ​ $ (6,050) ​ $ (21,955) ​ $ (28,005) Other comprehensive loss before reclassifications ​ (568) ​ — ​ (568) Amounts reclassified from accumulated other comprehensive loss ​ — ​ 548 ​ 548 Net current period other comprehensive (loss) income ​ (568) ​ 548 ​ (20) Ending balance, September 30, 2021 ​ $ (6,618) ​ $ (21,407) ​ $ (28,025) ​ The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified from ​ ​ ​ ​ accumulated other ​ ​ ​ ​ comprehensive loss for ​ Affected line item in the ​ ​ the nine months ended ​ statement where net income is ​ September 30, 2021 presented Amortization of defined benefit pension items ​ Prior service cost ​ $ (47) (1) Other income (expense), net Actuarial losses ​ 788 (1) Other income (expense), net Total before tax ​ 741 ​ Tax benefit ​ (193) ​ Net of tax ​ $ 548 ​ (1) These amounts were included in pension expense. See Note 8 for additional details.

Equity

Equity	9 Months Ended
	Sep. 30, 2021
Equity
Equity	15. Equity The following table reconciles the Company’s equity for the nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ Other ​ ​ Common ​ Excess of ​ Reinvested ​ Comprehensive ​ Stock Par Value Earnings Loss ​ ​ (Dollars in thousands) Balance, December 31, 2020 ​ $ 9,797 ​ $ 67,178 ​ $ 138,955 ​ $ (28,005) Net earnings ​ — ​ — ​ 1,325 ​ — Foreign currency translation adjustments ​ — ​ — ​ — ​ (143) Pension liability adjustment, net of tax ​ — ​ — ​ — ​ 183 Cash dividends declared ​ — ​ — ​ (2,336) ​ — Share-based compensation expense ​ ​ — ​ ​ 545 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (62) ​ ​ — ​ ​ (1,017) ​ ​ — Balance, March 31, 2021 ​ $ 9,735 ​ $ 67,723 ​ $ 136,927 ​ $ (27,965) Net earnings ​ ​ — ​ ​ — ​ ​ 3,820 ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ 176 Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 182 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,334) ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 327 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (21) ​ ​ — ​ ​ (435) ​ ​ — Balance, June 30, 2021 ​ $ 9,714 ​ $ 68,050 ​ $ 137,978 ​ $ (27,607) Net earnings ​ ​ — ​ ​ — ​ ​ 5,069 ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ (601) Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 183 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,341) ​ ​ — Issuance of restricted stock ​ ​ 36 ​ ​ (36) ​ ​ — ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 338 ​ ​ — ​ ​ — Balance, September 30, 2021 ​ $ 9,750 ​ $ 68,352 ​ $ 140,706 ​ $ (28,025) ​ 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) ​

Financial Statements (Policies)

Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2021
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 that affect the reported 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.

Forsake Acquisition (Tables)

Forsake Acquisition (Tables)	9 Months Ended
	Sep. 30, 2021
Forsake Acquisition
Summary of fair values assigned to the assets acquired and liabilities assumed as of the acquisition date	​ ​ ​ ​ ​ Accounts receivable, net $ 157 Inventories ​ 755 Prepaid expenses and other current assets ​ ​ 68 Property, plant and equipment, net ​ 17 Goodwill ​ 1,107 Trademark ​ 1,900 Accrued liabilities ​ (35) ​ ​ $ 3,969

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings (Loss) Per Share
Schedule of computation 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, ​ 2021 2020 2021 2020 ​ ​ (In thousands, except per share amounts) Numerator: ​ ​ ​ ​ ​ Net earnings (loss) ​ $ 5,069 ​ $ (5,869) ​ $ 10,214 ​ $ (13,590) ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ 9,655 ​ 9,756 ​ 9,663 ​ 9,760 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ Employee share-based awards ​ 47 ​ — ​ 28 ​ — Diluted weighted average shares outstanding ​ 9,702 ​ 9,756 ​ 9,691 ​ 9,760 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per share ​ $ 0.53 ​ $ (0.60) ​ $ 1.06 ​ $ (1.39) ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings (loss) per share ​ $ 0.52 ​ $ (0.60) ​ $ 1.05 ​ $ (1.39)

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021, and December 31, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ Amortized ​ Market ​ Amortized ​ Market ​ Cost Value Cost Value ​ ​ (Dollars in thousands) Municipal bonds: ​ ​ ​ ​ Current ​ $ 751 ​ $ 755 ​ $ 2,215 ​ $ 2,249 Due from one through five years ​ 6,705 ​ 7,050 ​ 7,420 ​ 7,830 Due from six through ten years ​ 2,734 ​ 3,188 ​ 3,057 ​ 3,608 Due from eleven through twenty years ​ 1,199 ​ 1,300 ​ 2,323 ​ 2,547 Total ​ $ 11,389 ​ $ 12,293 ​ $ 15,015 ​ $ 16,234
Schedule of Unrealized gains and losses on marketable securities	The unrealized gains and losses on marketable securities at September 30, 2021, and at December 31, 2020, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ Unrealized Unrealized Unrealized Unrealized ​ Gains Losses Gains Losses ​ ​ (Dollars in thousands) Municipal bonds ​ $ 904 ​ $ — ​ $ 1,219 ​ $ — ​

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Intangible Assets
Schedule of indefinite-lived intangible assets	The Company’s indefinite-lived intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 ​ ​ (Dollars in thousands) Indefinite-lived intangibles: ​ ​ Goodwill ​ $ 12,219 ​ $ 11,112 Trademarks ​ 34,768 ​ 32,868 Total ​ $ 46,987 ​ $ 43,980
Schedule of Changes in the carrying amount of the Company's goodwill by reportable segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Wholesale Retail Total ​ (Dollars in thousands) Balance, December 31, 2020 ​ $ 11,112 ​ $ — ​ $ 11,112 Acquisition of business ​ 332 ​ 775 ​ 1,107 Balance, September 30, 2021 ​ $ 11,444 ​ $ 775 ​ $ 12,219
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, 2021 ​ December 31, 2020 ​ ​ 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 ​ $ (2,469) ​ $ 1,031 ​ $ 3,500 ​ $ (2,294) ​ $ 1,206 Total amortizable intangible assets ​ ​ ​ ​ $ 3,500 ​ $ (2,469) ​ $ 1,031 ​ $ 3,500 ​ $ (2,294) ​ $ 1,206

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Information
Schedule of Segment Reporting Information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, Wholesale Retail Other Total ​ ​ (Dollars in thousands) 2021 ​ ​ ​ ​ ​ Product sales ​ $ 49,823 ​ $ 6,307 ​ $ 5,325 ​ $ 61,455 Licensing revenues ​ 343 ​ — ​ — ​ 343 Net sales ​ $ 50,166 ​ $ 6,307 ​ $ 5,325 ​ $ 61,798 Earnings (loss) from operations ​ $ 6,027 ​ $ 1,401 ​ $ (682) ​ $ 6,746 ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) (1) Included the write-off of a $1.1 million receivable related to Tailored Brands, Inc. 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) Included $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) Included $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. ​ Summarized segment data for the nine months ended September 30, 2021 and 2020, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, Wholesale Retail Other Total ​ ​ (Dollars in thousands) 2021 ​ ​ ​ ​ Product sales ​ $ 124,417 ​ $ 18,127 ​ $ 22,682 ​ $ 165,226 Licensing revenues ​ 1,036 ​ — ​ — ​ 1,036 Net sales ​ $ 125,453 ​ $ 18,127 ​ $ 22,682 ​ $ 166,262 Earnings (loss) from operations ​ $ 10,041 ​ $ 3,326 ​ $ (445) ​ $ 12,922 ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) (4) Included the write-off of $4.4 million in receivables due to two bankruptcies of large customers (J.C. Penny Company, Inc. and Tailored Brands, Inc.) 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) Included $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) Included $2.1 million for the impairment of retail 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, 2021
Employee Retirement Plans
Schedule of Company's pension expense	The components of the Company’s pension expense were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2021 2020 2021 2020 ​ ​ (Dollars in thousands) Service cost ​ $ 102 ​ $ 115 ​ $ 306 ​ $ 345 Interest cost ​ 371 ​ 502 ​ 1,113 ​ 1,508 Expected return on plan assets ​ (720) ​ (693) ​ (2,160) ​ (2,081) Net amortization and deferral ​ 247 ​ ​ 191 ​ 741 ​ 573 Pension expense ​ $ — ​ $ 115 ​ $ — ​ $ 345

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases
Schedule of operating lease costs	The components of the Company’s operating lease costs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ 2021 2020 2021 2020 ​ ​ (Dollars in thousands) Operating lease costs $ 1,151 ​ $ 1,652 $ 3,717 ​ $ 5,237 Variable lease costs (1) ​ ​ 67 ​ ​ — ​ ​ 124 ​ ​ 12 Total lease costs $ 1,218 ​ $ 1,652 $ 3,841 ​ $ 5,249 (1)
Schedule of maturities of operating lease liabilities	The following is a schedule of maturities of operating lease liabilities as of September 30, 2021: ​ ​ ​ ​ ​ ​ Operating Leases ​ ​ (Dollars in thousands) 2021, excluding the nine months ended September 30, 2021 $ 978 2022 3,462 2023 2,617 2024 1,865 2025 1,215 Thereafter 1,442 Total lease payments 11,579 Less imputed interest (2,459) Present value of lease liabilities $ 9,120 ​ The operating lease liabilities are classified in the consolidated condensed balance sheets (unaudited) as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 ​ ​ (Dollars in thousands) Operating lease liabilities - current ​ $ 2,018 ​ $ 4,245 Operating lease liabilities - non-current ​ ​ 7,102 ​ ​ 7,734 Total ​ $ 9,120 ​ $ 11,979
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, ​ 2021 2020 2021 2020 ​ ​ ​ (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 1,024 ​ $ 2,174 ​ $ 3,629 ​ $ 5,424 Right-of-use assets obtained in exchange for new lease liabilities (noncash) ​ $ 244 ​ $ 72 ​ $ 2,266 ​ $ 216

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2021
Income Taxes
Schedule of effective tax rate	The Company’s provision (benefit) for income taxes and effective tax rates for the three and nine months ended September 30, 2021 and 2020 are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 ​ ​ ​ (Dollars in thousands) ​ Earnings (loss) before provision (benefit) for income taxes ​ $ 7,008 ​ $ (3,733) ​ $ 13,749 ​ $ (15,016) ​ Provision (benefit) for income taxes ​ $ 1,939 ​ $ 2,136 ​ $ 3,535 ​ $ (1,426) ​ Effective tax rate ​ ​ 27.7 % ​ (57.2) % ​ 25.7 % ​ 9.5 %

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2021
Share-Based Compensation Plans
Schedule of Company's stock option activity	During the first quarter of 2021, the Company’s Board of Directors approved extending the expiration date of stock options granted in years 2015 and 2016. The original expiration date of the stock options granted in 2015 was August 25, 2021, and was extended by two years to August 25, 2023. The original expiration date of the stock options granted in 2016 was August 25, 2022, and was extended by one year to August 25, 2023. The Company recorded an additional $232,000 of compensation expense in the first quarter of 2021 due to the extension of the exercise periods. The following table summarizes the Company’s stock option activity for the nine-month period ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ ​ ​ Exercise ​ Contractual ​ Intrinsic ​ Shares Price Term (Years) Value* Outstanding at December 31, 2020 1,125,383 ​ $ 25.62 ​ Granted 186,900 ​ $ 24.00 ​ Exercised (1,200) ​ $ 18.00 ​ Forfeited or expired (27,015) ​ $ 24.22 ​ Outstanding at September 30, 2021 1,284,068 ​ $ 25.43 5.4 ​ $ 829,000 Exercisable at September 30, 2021 769,857 ​ $ 26.58 4.1 ​ $ 171,000 * 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, 2021 of $22.66 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.
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, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, Nine Months Ended September 30, ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 ​ (Dollars in thousands) Total intrinsic value of stock options exercised ​ $ 8 ​ $ — ​ $ 8 ​ $ — Net proceeds from stock option exercises ​ $ — ​ $ — ​ $ — ​ $ — Income tax benefit from the exercise of stock options ​ $ 2 ​ $ — ​ $ 2 ​ $ —
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, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ Shares of ​ Average ​ Remaining ​ Aggregate ​ ​ Restricted ​ Grant Date ​ Contractual ​ Intrinsic ​ Stock Fair Value Term (Years) Value* Non-vested at December 31, 2020 72,490 ​ $ 23.77 ​ Issued 36,325 ​ ​ 24.00 ​ Vested (30,345) ​ 24.41 ​ Non-vested at September 30, 2021 78,470 ​ $ 23.11 3.0 ​ $ 1,778,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company’s stock on September 30, 2021 of $22.66 multiplied by the number of non-vested restricted shares outstanding.

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2021
Equity
Schedule of comprehensive income (loss)	Comprehensive income (loss) for the three and nine months ended September 30, 2021 and 2020, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2021 2020 2021 2020 ​ ​ (Dollars in thousands) Net earnings (loss) ​ $ 5,069 ​ $ (5,869) ​ $ 10,214 ​ $ (13,590) Foreign currency translation adjustments ​ (601) ​ 751 ​ (568) ​ (217) Pension liability, net of tax of $64, $49, $193 and $149, respectively ​ 183 ​ 142 ​ 548 ​ 424 Total comprehensive income (loss) ​ $ 4,651 ​ $ (4,976) ​ $ 10,194 ​ $ (13,383)
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, ​ ​ 2021 ​ 2020 ​ ​ (Dollars in thousands) Foreign currency translation adjustments ​ $ (6,618) ​ $ (6,050) Pension liability, net of tax ​ (21,407) ​ (21,955) Total accumulated other comprehensive loss ​ $ (28,025) ​ $ (28,005)
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, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ Defined ​ ​ ​ ​ Currency Benefit ​ ​ ​ ​ Translation ​ Pension ​ ​ ​ ​ ​ Adjustments ​ Items ​ Total Beginning balance, December 31, 2020 ​ $ (6,050) ​ $ (21,955) ​ $ (28,005) Other comprehensive loss before reclassifications ​ (568) ​ — ​ (568) Amounts reclassified from accumulated other comprehensive loss ​ — ​ 548 ​ 548 Net current period other comprehensive (loss) income ​ (568) ​ 548 ​ (20) Ending balance, September 30, 2021 ​ $ (6,618) ​ $ (21,407) ​ $ (28,025)
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, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified from ​ ​ ​ ​ accumulated other ​ ​ ​ ​ comprehensive loss for ​ Affected line item in the ​ ​ the nine months ended ​ statement where net income is ​ September 30, 2021 presented Amortization of defined benefit pension items ​ Prior service cost ​ $ (47) (1) Other income (expense), net Actuarial losses ​ 788 (1) Other income (expense), net Total before tax ​ 741 ​ Tax benefit ​ (193) ​ Net of tax ​ $ 548 ​ (1) These amounts were included in pension expense. See Note 8 for additional details.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity
Schedule of reconciliation of company's equity	The following table reconciles the Company’s equity for the nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ Other ​ ​ Common ​ Excess of ​ Reinvested ​ Comprehensive ​ Stock Par Value Earnings Loss ​ ​ (Dollars in thousands) Balance, December 31, 2020 ​ $ 9,797 ​ $ 67,178 ​ $ 138,955 ​ $ (28,005) Net earnings ​ — ​ — ​ 1,325 ​ — Foreign currency translation adjustments ​ — ​ — ​ — ​ (143) Pension liability adjustment, net of tax ​ — ​ — ​ — ​ 183 Cash dividends declared ​ — ​ — ​ (2,336) ​ — Share-based compensation expense ​ ​ — ​ ​ 545 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (62) ​ ​ — ​ ​ (1,017) ​ ​ — Balance, March 31, 2021 ​ $ 9,735 ​ $ 67,723 ​ $ 136,927 ​ $ (27,965) Net earnings ​ ​ — ​ ​ — ​ ​ 3,820 ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ 176 Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 182 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,334) ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 327 ​ ​ — ​ ​ — Shares purchased and retired ​ ​ (21) ​ ​ — ​ ​ (435) ​ ​ — Balance, June 30, 2021 ​ $ 9,714 ​ $ 68,050 ​ $ 137,978 ​ $ (27,607) Net earnings ​ ​ — ​ ​ — ​ ​ 5,069 ​ ​ — Foreign currency translation adjustments ​ ​ — ​ ​ — ​ ​ — ​ ​ (601) Pension liability adjustment, net of tax ​ ​ — ​ ​ — ​ ​ — ​ ​ 183 Cash dividends declared ​ ​ — ​ ​ — ​ ​ (2,341) ​ ​ — Issuance of restricted stock ​ ​ 36 ​ ​ (36) ​ ​ — ​ ​ — Share-based compensation expense ​ ​ — ​ ​ 338 ​ ​ — ​ ​ — Balance, September 30, 2021 ​ $ 9,750 ​ $ 68,352 ​ $ 140,706 ​ $ (28,025) ​ 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)

Forsake Acquisition (Details)

Forsake Acquisition (Details) - USD ($)	Jun. 07, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 12,219,000		$ 12,219,000	$ 12,219,000		$ 11,112,000
Revenues		61,798,000	$ 53,178,000		166,262,000	$ 133,408,000
Wholesale
Business Acquisition [Line Items]
Goodwill		11,444,000		11,444,000	11,444,000		11,112,000
Revenues		50,166,000	44,012,000		125,453,000	106,019,000
Retail
Business Acquisition [Line Items]
Goodwill		775,000		775,000	775,000		$ 0
Revenues		$ 6,307,000	$ 4,367,000		$ 18,127,000	$ 12,768,000
Forsake
Business Acquisition [Line Items]
Aggregate purchase price	$ 2,600,000
Period for payments of contingent consideration	5 years
Preliminary estimate of the discounted fair value of the contingent payments	$ 1,400,000
Recorded intangible assets	3,000,000
Goodwill	$ 1,107,000
Revenues				524,000
Forsake | Wholesale
Business Acquisition [Line Items]
Revenues				281,000
Forsake | Retail
Business Acquisition [Line Items]
Revenues				$ 243,000

Forsake Acquisition - Accrued l

Forsake Acquisition - Accrued liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 07, 2021	Dec. 31, 2020
Fair values assigned to the assets acquired and liabilities assumed as of the acquisition date
Goodwill	$ 12,219		$ 11,112
Forsake
Fair values assigned to the assets acquired and liabilities assumed as of the acquisition date
Accounts receivable, net		$ 157
Inventories		755
Prepaid expenses and other current assets		68
Property, plant and equipment, net		17
Goodwill		1,107
Trademark		1,900
Accrued liabilities		(35)
Total		$ 3,969

Earnings (Loss) Per Share - Ear

Earnings (Loss) Per Share - Earnings per share basic and diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net earnings (loss)	$ 5,069	$ (5,869)	$ 10,214	$ (13,590)
Denominator:
Basic weighted average shares outstanding (in shares)	9,655	9,756	9,663	9,760
Effect of dilutive securities:
Employee share-based awards (in shares)	47		28
Diluted weighted average shares outstanding (in shares)	9,702	9,756	9,691	9,760
Basic earnings (loss) per share (in dollars per share)	$ 0.53	$ (0.60)	$ 1.06	$ (1.39)
Diluted earnings (loss) per share (in dollars per share)	$ 0.52	$ (0.60)	$ 1.05	$ (1.39)

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings (Loss) Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1,127,000	1,169,000	1,074,000	1,181,000
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 26.14	$ 24.71	$ 25.95	$ 26.06

Investments - Investments, at f

Investments - Investments, at fair value (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Investments
Investment Owned, at Fair Value	$ 15,162	$ 0
Unrealized Gain (Loss) on Investments	$ 0

Investments - Marketable Securi

Investments - Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 751	$ 2,215
Municipal bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	751	2,215
Amortized Cost, Due from one through five years	6,705	7,420
Amortized Cost, Due from six through ten years	2,734	3,057
Amortized Cost, Due from eleven through twenty years	1,199	2,323
Amortized Cost, Total	11,389	15,015
Market Value, Current	755	2,249
Market Value, Due from one through five years	7,050	7,830
Market Value, Due from six through ten years	3,188	3,608
Market Value, Due from eleven through twenty years	1,300	2,547
Market Value, Total	$ 12,293	$ 16,234

Investments - Unrealized gains

Investments - Unrealized gains and losses (Details) - Municipal bonds - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Net Investment Income [Line Items]
Unrealized Gains	$ 904	$ 1,219
Unrealized Losses	$ 0	$ 0

Intangible Assets - Company's i

Intangible Assets - Company's indefinite-lived intangible assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Indefinite-lived intangibles:
Goodwill	$ 12,219	$ 11,112
Trademarks	34,768	32,868
Total	$ 46,987	$ 43,980

Intangible Assets - Company's g

Intangible Assets - Company's goodwill by reportable segment (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Balance	$ 11,112
Acquisition of business	1,107
Balance	12,219
Wholesale
Balance	11,112
Acquisition of business	332
Balance	11,444
Retail
Balance	0
Acquisition of business	775
Balance	$ 775

Intangible Assets - Company's a

Intangible Assets - Company's amortizable intangible assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Amortizable intangible assets:
Gross Carrying Amount	$ 3,500	$ 3,500
Accumulated Amortization	(2,469)	(2,294)
Net	$ 1,031	1,206
Customer relationships
Amortizable intangible assets:
Weighted Average Life (Years)	15 years
Gross Carrying Amount	$ 3,500	3,500
Accumulated Amortization	(2,469)	(2,294)
Net	$ 1,031	$ 1,206

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Intangible Assets
Amortization of Intangible Assets	$ 58,000	$ 58,000	$ 175,000	$ 175,000

Segment Information - Schedule

Segment Information - Schedule of segment data (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment			2
Net sales	$ 61,798	$ 53,178	$ 166,262	$ 133,408
Earnings (loss) from operations	6,746	(3,840)	12,922	(15,512)
Product sales
Segment Reporting Information [Line Items]
Net sales	61,455	52,954	165,226	132,582
Licensing revenues
Segment Reporting Information [Line Items]
Net sales	343	224	1,036	826
Wholesale
Segment Reporting Information [Line Items]
Net sales	50,166	44,012	125,453	106,019
Earnings (loss) from operations	6,027	2,752	10,041	(4,664)
Write-Off from large customer receivable, due to bankruptcies				4,400
Partially offset of income from government wage subsidies		300		1,600
Employee costs		500		1,900
Reserves for obsolete and slow moving inventory		500		500
Other related charges		200		200
Wholesale | Tailored Brands, Inc
Segment Reporting Information [Line Items]
Write-Off from large customer receivable, due to bankruptcies		1,100
Wholesale | Product sales
Segment Reporting Information [Line Items]
Net sales	49,823	43,788	124,417	105,193
Wholesale | Licensing revenues
Segment Reporting Information [Line Items]
Net sales	343	224	1,036	826
Retail
Segment Reporting Information [Line Items]
Net sales	6,307	4,367	18,127	12,768
Earnings (loss) from operations	1,401	(2,796)	3,326	(3,741)
Employee costs		100		100
Early lease termination charges		1,500		1,500
Impairment of retail store fixed assets				1,000
Retail | Product sales
Segment Reporting Information [Line Items]
Net sales	6,307	4,367	18,127	12,768
Retail | Licensing revenues
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Other Segment
Segment Reporting Information [Line Items]
Net sales	5,325	4,799	22,682	14,621
Earnings (loss) from operations	(682)	(3,796)	(445)	(7,107)
Income from government wage subsidies		1,100
Partially offset of income from government wage subsidies				2,500
Employee costs		1,100
Other related charges		200
Impairment of retail store fixed assets		2,100
Other Segment | Product sales
Segment Reporting Information [Line Items]
Net sales	5,325	4,799	22,682	14,621
Other Segment | Licensing revenues
Segment Reporting Information [Line Items]
Net sales	$ 0	0	$ 0	0
Retail store fixed assets and operating lease right-of-use assets
Segment Reporting Information [Line Items]
Employee costs				2,000
Reserves for obsolete and slow moving inventory		$ 500		1,600
Other related charges				600
Impairment of retail store fixed assets				$ 2,100

Employee Retirement Plans (Deta

Employee Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Employee Retirement Plans
Service cost	$ 102	$ 115	$ 306	$ 345
Interest cost	371	502	1,113	1,508
Expected return on plan assets	(720)	(693)	(2,160)	(2,081)
Net amortization and deferral	$ 247	191	$ 741	573
Pension expense		$ 115		$ 345

Leases - Operating lease costs

Leases - Operating lease costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases
Operating lease costs	$ 1,151	$ 1,652	$ 3,717	$ 5,237
Variable lease costs	67		124	12
Total lease costs	$ 1,218	$ 1,652	$ 3,841	$ 5,249

Leases - Maturities of operatin

Leases - Maturities of operating lease liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Leases
2021, excluding the nine months ended September 30, 2021	$ 978
2022	3,462
2023	2,617
2024	1,865
2025	1,215
Thereafter	1,442
Total lease payments	11,579
Less imputed interest	(2,459)
Present value of lease liabilities	$ 9,120	$ 11,979

Leases - Operating lease liabil

Leases - Operating lease liabilities classification (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Leases
Operating lease liabilities - current	$ 2,018	$ 4,245
Operating lease liabilities - non-current	7,102	7,734
Total	$ 9,120	$ 11,979

Leases - Supplemental cash flow

Leases - Supplemental cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases
Cash paid for amounts included in the measurement of lease liabilities	$ 1,024	$ 2,174	$ 3,629	$ 5,424
Right-of-use assets obtained in exchange for new lease liabilities (noncash)	$ 244	$ 72	$ 2,266	$ 216

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 30, 2021
Leases
Operating Lease, Weighted Average Discount Rate, Percent	4.25%
Operating Lease, Weighted Average Remaining Lease Term	2 years 11 months 1 day

Income Taxes - Schedule of effe

Income Taxes - Schedule of effective tax rate (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Taxes
Earnings (loss) before provision (benefit) for income taxes	$ 7,008	$ (3,733)	$ 13,749	$ (15,016)
Provision (benefit) for income taxes	$ 1,939	$ 2,136	$ 3,535	$ (1,426)
Effective tax rate	27.70%	(57.20%)	25.70%	9.50%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Income Taxes
Tax expense related to deferred tax assets		$ 2
Statutory federal tax rate	35.00%

Share-Based Compensation Plan_2

Share-Based Compensation Plans - Additional information (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 338,000		$ 362,000	$ 1,210,000	$ 1,063,000
Additional share based compensation expense		$ 232,000
Incentive Plan 2015 [Member] | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Extension of expiration period of stock options				2 years
Incentive Plan 2016 [Member] | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Extension of expiration period of stock options				1 year

Share-Based Compensation Plan_3

Share-Based Compensation Plans - Company's stock option activity (Details) - Employee Stock Option	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at beginning of period | shares	1,125,383
Shares, Granted | shares	186,900
Shares, Exercised | shares	(1,200)
Shares, Forfeited or expired | shares	(27,015)
Shares, Outstanding at end of period | shares	1,284,068
Shares, Exercisable at end of period | shares	769,857
Weighted Average Exercise Price, Outstanding at beginning of period (in dollars per share) | $ / shares	$ 25.62
Weighted Average Exercise Price, Granted (in dollars per share) | $ / shares	24
Weighted Average Exercise Price, Exercised (in dollars per share) | $ / shares	18
Weighted Average Exercise Price, Forfeited or expired (in dollars per share) | $ / shares	24.22
Weighted Average Exercise Price, Outstanding at end of period (in dollars per share) | $ / shares	25.43
Weighted Average Exercise Price, Exercisable at end of period (in dollars per share) | $ / shares	$ 26.58
Weighted Average Remaining Contractual Term (Years), Outstanding - September 30, 2021	5 years 4 months 24 days
Weighted Average Remaining Contractual Term (Years), Exercisable, Outstanding - September 30, 2021	4 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding at September 30, 2021 | $	$ 829,000
Aggregate Intrinsic Value, Exercisable at September 30, 2021 | $	$ 171,000

Share-Based Compensation Plans-

Share-Based Compensation Plans- Company's stock option exercise activity (Details) - Employee Stock Option - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 8	$ 0	$ 8	$ 0
Net proceeds from stock option exercises	0	0	0	0
Income tax benefit from the exercise of stock options	$ 2	$ 0	$ 2	$ 0

Share-Based Compensation Plan_4

Share-Based Compensation Plans - Company's restricted stock award activities (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Restricted Stock, Non-vested beginning of period | shares	72,490
Shares of Restricted Stock, Issued | shares	36,325
Shares of Restricted Stock, Vested | shares	(30,345)
Shares of Restricted Stock, Non-vested end of period | shares	78,470
Weighted Average Grant Date Fair Value, Non-vested beginning of period (in dollars per share)	$ 23.77
Weighted Average Grant Date Fair Value, Issued (in dollars per share)	24
Weighted Average Grant Date Fair Value, Vested (in dollars per share)	24.41
Weighted Average Grant Date Fair Value, Non-vested end of period (in dollars per share)	$ 23.11
Weighted Average Remaining Contractual Term (Years)	3 years
Aggregate Intrinsic Value | $	$ 1,778,000
Fair market value of options granted (in dollars per share)	$ 22.66

Short-Term Borrowings (Details)

Short-Term Borrowings (Details) - Revolving Credit Facility - USD ($)	Oct. 01, 2021	Sep. 30, 2021	Nov. 04, 2021
Short-term Debt [Line Items]
Line of Credit Facility, Amount, Total		$ 30,000,000	$ 40,000,000
Line of credit current		$ 0
Subsequent event
Short-term Debt [Line Items]
Line of Credit Facility, Expiration Date	Nov. 4, 2022
London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.35%

Financial Instruments (Details)

Financial Instruments (Details) - Sep. 30, 2021 $ in Millions, $ in Millions, $ in Millions	CAD ($)	USD ($)	AUD ($)
Foreign Exchange Contracts, Canadian
Foreign exchange contracts outstanding	$ 3	$ 2.4
Foreign Exchange Contracts Australian
Foreign exchange contracts outstanding		$ 3.5	$ 4.5

Comprehensive Income (Loss) - C

Comprehensive Income (Loss) - Comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Comprehensive Income (Loss)
Net earnings (loss)	$ 5,069	$ (5,869)	$ 10,214	$ (13,590)
Foreign currency translation adjustments	(601)	751	(568)	(217)
Pension liability, net of tax of $64, $49, $193 and $149, respectively	183	142	548	424
Total comprehensive income (loss)	$ 4,651	$ (4,976)	$ 10,194	$ (13,383)

Comprehensive Income (Loss) - A

Comprehensive Income (Loss) - Accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Comprehensive Income (Loss)
Foreign currency translation adjustments	$ (6,618)	$ (6,050)
Pension liability, net of tax	(21,407)	(21,955)
Total accumulated other comprehensive loss	$ (28,025)	$ (28,005)

Comprehensive Income (Loss) -_2

Comprehensive Income (Loss) - Changes in accumulated comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Comprehensive Income (Loss)
Foreign Currency Translation Adjustments, Beginning balance			$ (6,050)
Foreign Currency Translation Adjustments, Other comprehensive loss before reclassifications			(568)
Foreign Currency Translation Adjustments, Amounts reclassified from accumulated other comprehensive loss			0
Foreign Currency Translation Adjustments, Net current period other comprehensive (loss) income			(568)
Foreign Currency Translation Adjustments, Ending balance	$ (6,618)		(6,618)
Defined Benefit Pension Items, Beginning balance			(21,955)
Defined Benefit Pension Items, Other comprehensive loss before reclassifications			0
Defined Benefit Pension Items, Amounts reclassified from accumulated other comprehensive loss	183	$ 142	548	$ 424
Defined Benefit Pension Items, Net current period other comprehensive (loss) income			548
Defined Benefit Pension Items, Ending balance	(21,407)		(21,407)
Beginning balance			(28,005)
Other comprehensive loss before reclassifications			(568)
Amounts reclassified from accumulated other comprehensive loss			548
Net current period other comprehensive (loss) income			(20)
Ending balance	$ (28,025)		$ (28,025)

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Amortization of defined benefit pension items
Prior service cost			$ (47)
Actuarial losses			788
Total before tax			741
Tax benefit			(193)
Net of tax	$ 183	$ 142	$ 548	$ 424

Comprehensive Income (Loss) -_3

Comprehensive Income (Loss) - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Defined Benefit Plan, after Reclassification Adjustment, Tax	$ 64	$ 49	$ 193	$ 149

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Balance			$ 187,925				$ 187,925
Net earnings (loss)	$ 5,069			$ (5,869)			10,214	$ (13,590)
Foreign currency translation adjustments	(601)			751			(568)	(217)
Pension liability adjustment, net of tax							548
Balance	190,783						190,783
Common Stock
Balance	9,714	$ 9,735	9,797	9,813	$ 9,813	$ 9,873	9,797	9,873
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
Issuance of restricted stock	36			31
Share-based compensation expense	0	0	0	0	0	0
Shares purchased and retired		(21)	(62)			(60)
Balance	9,750	9,714	9,735	9,844	9,813	9,813	9,750	9,844
Capital in Excess of Par Value
Balance	68,050	67,723	67,178	66,533	66,183	65,832	67,178	65,832
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
Issuance of restricted stock	(36)			(31)
Share-based compensation expense	338	327	545	362	350	351
Shares purchased and retired		0	0			0
Balance	68,352	68,050	67,723	66,864	66,533	66,183	68,352	66,864
Reinvested Earnings
Balance	137,978	136,927	138,955	145,148	156,386	158,825	138,955	158,825
Net earnings (loss)	5,069	3,820	1,325	(5,869)	(8,883)	1,162
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	(2,341)	(2,334)	(2,336)	(2,363)	(2,355)	(2,357)
Issuance of restricted stock	0			0
Share-based compensation expense	0	0	0	0	0	0
Shares purchased and retired		(435)	(1,017)			(1,244)
Balance	140,706	137,978	136,927	136,916	145,148	156,386	140,706	136,916
Accumulated Other Comprehensive Loss
Balance	(27,607)	(27,965)	(28,005)	(25,222)	(26,956)	(24,536)	(28,005)	(24,536)
Net earnings (loss)	0	0	0	0	0	0
Foreign currency translation adjustments	(601)	176	(143)	751	1,590	(2,558)
Pension liability adjustment, net of tax	183	182	183	142	144	138
Cash dividends declared	0	0	0	0	0	0
Issuance of restricted stock	0			0
Share-based compensation expense	0	0	0	0	0	0
Shares purchased and retired		0	0			0
Balance	$ (28,025)	$ (27,607)	$ (27,965)	$ (24,329)	$ (25,222)	$ (26,956)	$ (28,025)	$ (24,329)