Intangible Valuation
Value, contrarian, coat tail rider, idiosyncratic research

Weyco Group: Good Brands, Family Management, Growing Business

Weyco Group (NASDAQ:WEYS), incorporated 1906, designs and markets footwear of the mid-priced men's leather dress shoe variety. The company purchases finished shoes from third-party manufacturers, located in China and India, and sells them wholesale, retail and over the Internet. The company has been successfully acquiring brands and growing revenues, all while maintaining a solid balance sheet with no long-term debt (albeit with some short-term debt representing about 15% of total assets).

The company looks well positioned to prosper in the future, and while the market price is not necessarily discounted, the company is attractive for the following reasons:

    Safe capital structure with liabilities less than current assets alone Growing revenue and brands It is still reducing its retail ...
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