Weyco Group reported sales of $83.1 million for the third quarter of 2013, an increase of 5 percent from 2012, driven by higher sales of the Nunn Bush brand. Weyco's brands also include Florsheim, Stacy Adams, Bogs, Rafters and Umi. Earnings from operations increased by 6 percent to $8.6 million compared with the third quarter of 2012. Net earnings attributable to the company were $5.4 million, up 4 percent from 2012. Earnings for last year's third quarter included around $460,000, or $270,000 after tax, of income resulting from a reduction in the estimated liability for future payments related to the acquisition of The Combs Company, in 2011. Without this adjustment, earnings from operations and net earnings attributable to the company would have been up 12 percent and 10 percent, respectively, for the quarter.
Sales for the company's North American wholesale segment, which includes wholesale and licensing revenues, were $64.8 million, compared with $61.0 million in the third quarter of 2012. Wholesale product sales were $63.9 million, up from $60.2 million in 2012. This increase was primarily due to higher wholesale sales of the Nunn Bush brand, up 39 percent to $5.4 million, thanks to higher sales volumes at department stores and national shoe chains driven by increased sales of new casual products. Licensing revenues remained flat at around $800,000 in the third quarter of 2013 and 2012. Earnings from operations for the wholesale segment were $7.1 million, up 8 percent from $6.6 million in the third quarter of 2012. Last year's third quarter earnings from operations included around $460,000 of income resulting from the adjustment referred to above. Excluding this adjustment, earnings from operations for the wholesale segment would have been up 16 percent for the quarter.
Net sales in North America retail, which include sales from the company's Florsheim retail stores and its internet business in the U.S., were $5.2 million in the quarter, down from $5.5 million in 2012. Same-store sales increased by 7 percent. There were eight fewer domestic retail stores as of Sept. 30, 2013 than at Sept. 30, 2012. Earnings from operations for the retail segment increased by around $190,000 for the quarter.
Other net sales, which include the wholesale and retail sales of Florsheim Australia and Florsheim Europe, were $13.1 million in the third quarter of this year, up from $12.9 million in the same period of 2012. Earnings from operations of these businesses decreased to $1.0 million, from $1.2 million in the same quarter last year. This decrease was primarily due to a $700,000 decline in the operating earnings of Florsheim Australia's wholesale business, which was offset by a $450,000 increase in the operating earnings of its retail business.
The company said that it expects the new casual products of its Nunn Bush brand to provide solid growth as it moves into the fourth quarter.