Thank you.
everyone. morning, Good
Group's XXXX Weyco to our discuss Welcome conference quarter earnings. first to call
call are and On Chairman me with this today and Florsheim, and Tom John our President COO. CEO; our Florsheim,
will read Before we begin, a disclaimer. brief I
actual differ Securities may you identifies Weyco that Commission. results may predictions to that refer the During or other materially. as materially projections to results to Company. actual risks XX-K events expectations differ Group's We future We XX-K forward-looking call, could from Form filed future The and Company's the projections. you cause important current or events and our wish make most and recent and the factors such with regarding financial the this just the course Exchange our concerning of that statements we are statements performance caution of
ongoing retail the factors length including With pandemic, of and require duration among the business of respect the resulting by supply actions welfare governments impact and of similar such that taken the the determine of and the on the COVID-XX to the Company, global economic pandemic the and extent the and slowdown, closures, customers the numerous and health extent other chain orders partners, performance health effects Company's the and employees. Company's stay-at-home Company's financial as of store will
measures. non-GAAP refer some to may Additionally, comparisons
use them. contain filings may additional information why about SEC we measures Our non-GAAP these and
our the surrounding retailers XXXX, of COVID-XX experienced business. closing shutdowns significant majority to pandemic. and business in in conditions significantly stores, second which temporarily businesses of Our beginning the resulted of non-essential affected their due operations wholesale the half the unprecedented disruptions March Government-mandated
businesses, of Europe earnings and Overseas, shutdowns and sales retail XX closed government to were locations lockdowns impact similarly closed retail closings by during wholesale closures stay requiring by global in and Asia, and to adversely the quarter on caused all and continue businesses and retail economic at our remain store lower expects consumers resulted across South business to to and first Africa lockdowns Australia, domestic slowdown impacted our Our our and March due home. in These pandemic Company the XXXX. orders.
of XXXX. million this per Net of first quarter $X first to were XXXX quarter million. were share $X.XX per XXXX $X.X earnings Operating were compared $XX.X first down of quarter in the $X.XX XX% quarter of million, net the sales were quarter million first quarter in earnings million $X.X compared $X.X XXXX, $XX.X the in for year. sales earnings last the million with share and versus XXXX. first Net Diluted per share in
and into effect. COVID-XX in of retail had were a retail February quarter sales In XX% result net of quarter and shutdowns were sales $XX.X the X% the the respectively, $XXX,XXX Licensing the January XX%, first $XX.X in partially shutdowns for Bush North which XX% revenues net last net and year. major Nunn as before down wholesale sales segment, offset compared declined year. went related Stacy down across the most Adams, were of for to and strong brand, decreases BOGS American sales increase million, with the Florsheim sales categories million locations. X% the These a last $XXX,XXX by
to in footwear Wholesale the certain on of primarily gross sales net earnings were XX.X% year. due sales compared last XX.X% was first from the China. of gross of to costs margins additional the in decrease the net quarter, imported The tariff
purchased XX% from inventory of As an and were of call, additional impact a the as X.X%. in current assessed X, we at $X.X we it when until the amount Wholesale reduced was lessen sell February year. September XXXX through operating million to expect we on XXXX earnings quarter previous we last discussed rate, XX, tariff tariff inventory. was our our our million limited to higher tariff's the negative margins for $X.X Because
include stores segment, the our million of sales XX% retail our in decreased to store Same-store both sales US which first quarter, websites. down were retail due American late XX% and the with quarter. and sales, last US were North primarily in year's e-commerce compared include Net on down for quarter closings $X.X which sales, $X.X Company's e-commerce million, retail the sales the
quarter, the result, for $XX,XXX with operating $XXX,XXX the retail last had a earnings compared losses totaling year. As of operating segment
the The include Florsheim year. caused to net of Europe Australia net Florsheim home. which Florsheim quarter, for operations, the Collectively, $X.X due and retail of other Europe lower Florsheim million operating stay consumers compared shutdowns operating Australia in largely first million down at businesses government first $X.X losses quarter sales Florsheim from and orders totaling and sales Europe, to Florsheim losses retail the Australia $X.X by first of 'XX. had in and decrease in $XXX,XXX quarter, wholesale was had both Our million last and the at to of
Other in $XXX,XXX unrealized and income the primarily to year year's quarter. due favorable held on gains increase quarter foreign expense last of The compared Florsheim $XXX,XXX XXXX, -- totaled income first first this this or to expense Australia. exchange in was of contracts by of quarter
$XX $XX.X our we outstanding credit. At debt million, revolving XX, XXXX, cash on of marketable March had our and and million line totaled securities no
million stock. to of first funds three of credit used $XX line generated million operations. $X.X cash paid of we $X.X pay We and from repurchased million the million of $X down During Company our our on in months XXXX, dividends,
Additionally, of we had capital expenditures. million $X.X
our On dividend shareholders all cash XXXX, We that of a per between on payable Board expenditures XX. capital June expect declared Directors $X.XX May share XX $X million. on record to X, of will be of and our annual XXXX $X May million
and call turn now the will I to Tom our Chairman Jr., over Florsheim, CEO.
