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Weyco Group, Inc..

WEYS.US | Manufacture of footwear

Weyco Group, Inc. designs and markets footwear for men, women, and children. The company operates through two segments: North American Wholesale Footwear and Retail, and Foreign Wholesale Footwear. It offers branded footwear under the Florsheim, Nunn Bush, Stacy Adams, BOGS, and Rafters brands, as w...Show More

Ethical Profile

Mixed.

Weyco Group, Inc. maintains a mixed ethical profile. The company faced a material weakness in internal controls over financial reporting in 2023, remediated by June 2024, and is reportedly non-compliant with Nasdaq's independent board standards. Employee reviews suggest concerns about "below average" pay and "expensive" family benefits. Conversely, Weyco Group's Supplier Code of Conduct outlines ethical sourcing, complying with the California Transparency in Supply Chains Act and holding affiliations like the Ethical Trading Initiative. Environmental efforts include over 90% waste diversion at its Milwaukee facility, 10% solar energy, and phasing out PFAS/PFC-based water repellents, incorporating over 22% bio-based alternatives. Critics point to its reliance on leather, with over 75% from LWG approved tanneries, which allegedly does not guarantee animal welfare.

Value Scores

Better Health for All-20
-100100
Fair Money & Economic Opportunity0
-100100
Fair Pay & Worker Respect0
-100100
Fair Trade & Ethical Sourcing0
-100100
Honest & Fair Business-40
-100100
Kind to Animals0
-100100
No War, No Weapons0
-100100
Planet-Friendly Business-20
-100100
Respect for Cultures & Communities0
-100100
Safe & Smart Tech-30
-100100
Zero Waste & Sustainable Products0
-100100

Better Health for All

-20

Weyco Group's core business of footwear has no significant positive or negative health impact. The company does not offer health-related products or services requiring accessibility considerations, nor do its products carry health risks requiring disclosure. There is no evidence of revenue from products with well-established negative health outcomes, nor specific user safety records. The company's R&D and operations are not primarily focused on health-related outcomes or externalities. Weyco Group has limited health equity programs, supporting the United Way's Shoe Box project with hygiene products and flip flops, and donating over $19,000 worth of winter boots to Project Homeless Connect events.

1
The company provides basic support for its healthcare workforce, offering direct financial support for continuing education, accommodating schedules for further education, and providing summer employment for local students who make up 10% of the workforce.
2
Preventative health measures are substantial for employees, including wellness and fitness programs, a fitness center, and a basketball court at its facility.
3
Mental health initiatives are basic, with the company offering Employee Assistance Programs and launching a Culture of Belonging Survey.
4
Healthcare education efforts are limited, including support for Cristo Rey Jesuit High School's work-study program, offering internships, and providing education classes in financial and retirement planning.
5

Fair Money & Economic Opportunity

0

Weyco Group, Inc. is a footwear company, and its primary business is the design, sourcing, and wholesale distribution of footwear.

1
The provided articles, including the 2024 Annual Report and various ESG documents, consistently state that there is no data available regarding financial products, lending practices, or any metrics related to financial inclusion.
2
Therefore, all KPIs under the 'Fair Money & Economic Opportunity' value are scored 0, as the company does not offer lending or deposit services, consumer credit products, generate customer finance data, or operate as a financial institution.
3

Fair Pay & Worker Respect

0

Weyco Group is not a party to any collective bargaining or labor union contracts with its employees, indicating 0% coverage.

1
The company states it is in compliance with all applicable labor and employment laws and is not engaged in any unfair labor practice, with no pending claims under workers' compensation or for wrongful termination, discrimination, or harassment in the past three years.
2
However, the company does not maintain a welfare benefit plan for continuing health benefits after employment termination, except as required by COBRA, and 65-75% of employees are covered by employer health plans.
3

Fair Trade & Ethical Sourcing

0

The company has a formal third-party certified social audit program in place for over a decade.

1
This code requires suppliers to comply with minimum employment age limits (national law or ILO Convention 138, whichever is higher) and prohibits subcontracting without prior written consent and agreement to the Code.
2
The company also states that any violations of the Code will be reported to the supplier for follow-up and corrective action.
3
Over 75% of leather is sourced from Leather Working Group (LWG) approved tanneries, and 85-90% of packaging uses Forest Stewardship Council (FSC)-certified recycled paperboard.
4
The company complies with Bill S-211 (Canadian supply chains) and the California Transparency in Supply Chains Act of 2010.
5

Honest & Fair Business

-40

As of April 4, 2025, three of the six board members are independent, meaning 50% are independent.

1
The company is not compliant with Nasdaq's majority independent board requirement but has a cure period.
2
Weyco Group has a Code of Business Ethics applicable to employees and non-employee directors.
3
The company also has a Supplier Code of Conduct that addresses human trafficking and slavery, requiring suppliers to comply with applicable laws and submit to announced or unannounced audits by Weyco or third-party auditors.
4
They provide compliance training to suppliers on their Social and Environmental Compliance Program and Supplier Code of Conduct.
5

Kind to Animals

0

No specific, concrete data points were found in the provided articles to assess Weyco Group, Inc. against the 'Kind to Animals' ethical value. The articles primarily focus on general ESG initiatives, environmental aspects of leather sourcing (Leather Working Group certifications for tanneries), and packaging materials.

1
There is no evidence regarding cruelty-free certifications, animal testing policies or volumes, humane certifications for animal operations, wildlife conservation impact, replacement of animal-derived ingredients with ethical alternatives, animal welfare audits for suppliers, cage-free sourcing, R&D investment in animal-free technologies, animal agriculture ethics, animal-free R&D collaboration, or public policy engagement related to animal welfare.
2

No War, No Weapons

0

No evidence available to assess Weyco Group, Inc. on No War, No Weapons.

Planet-Friendly Business

-20

Weyco Group's Milwaukee facility sources 10% of its total energy from solar panels and purchases renewable energy certificates for 100% of its electrical usage.

1
The Milwaukee distribution center and corporate offices achieve over 90% waste diversion from landfill.
2
The company utilizes UPS’s Carbon Neutral Program to offset shipping emissions from its Milwaukee distribution center.
3
For packaging, Weyco sources 85-90% Forest Stewardship Council-certified recycled paperboard, has achieved a 50% reduction in cardboard waste, and a 30% reduction in shipping volume.
4
The company aims for at least 25% of all products to meet environmentally-preferred material standards by 2025, including recycled, organic, or bio-based components, and sources over 75% of its leather from Leather Working Group-certified suppliers.
5
Weyco is working to measure Scope 1, 2, and 3 greenhouse gas emissions and establish reduction targets.
6

Respect for Cultures & Communities

0

The provided articles do not contain specific, quantitative data points required to assess Weyco Group, Inc. against the defined KPIs for 'Respect for Cultures & Communities'. While the company demonstrates general community involvement through charitable giving to organizations like the United Way and United Performing Arts Foundation, and offers employee volunteer hours and matching gift programs, these activities are not tied to the specific metrics of the rubric.

1
There is no information on formal partnerships with indigenous or local community groups, percentage of revenue reinvested locally, cultural appropriation incidents, cultural impact assessment protocols, local employment ratios, community-specific grievance mechanisms, FPIC participation rates, community governance inclusion, cultural preservation investment, local procurement share, indigenous supplier engagement, cultural site protection, social license to operate, charitable giving specifically to cultural heritage organizations, community fund allocation, language inclusivity, cultural incident response, or cultural sensitivity training completion rates.
2

Safe & Smart Tech

-30

Weyco Group reported no material cybersecurity incidents in fiscal years 2023 and 2024.

1
The company has implemented processes and systems to identify, assess, and manage cybersecurity risks, and to prevent, detect, and respond to incidents.
2
It has a comprehensive cybersecurity strategy, policy, and program aligned with the NIST Cybersecurity Framework, and engages third-party IT security vendors for ongoing assessments and monitoring.
3
The company uses encryption and authentication technology to safeguard data and systems.
4
All employees receive regular cybersecurity awareness training, including seminars and presentations, but specific completion rates or effectiveness metrics are not provided.
5
The company's privacy policy indicates that it collects various categories of personal information and retains most of it for as long as needed for any business or legal purpose, or as long as an account is maintained, suggesting lengthy retention periods.
6
While the company honors privacy rights for residents of 16 US states, it uses third-party tracking technologies for targeted advertising and data analytics, and users must actively opt-out.
7
The company reported a material weakness in internal control over financial reporting related to the ineffective design and maintenance of information technology general controls in user access and program change management, which was remediated as of June 30, 2024.
8
The company states it complies with various laws and standards, including PCI DSS and NIST, but specific regulatory compliance details or certifications for its privacy program are not provided.
9
The company's privacy policy also states that it has Shared Personal Information with third parties for targeted advertising and data analytics in the last 12 months.
10

Zero Waste & Sustainable Products

0

No specific, concrete data points regarding Weyco Group, Inc.'s performance on waste diversion, product recyclability, packaging sustainability, recycled content, single-use plastic reduction, take-back programs, circular design, waste reduction initiatives, hazardous waste management, product durability, repairability, waste audit frequency, zero waste certification, waste disposal violations, material efficiency, packaging-to-product ratio, waste reduction targets, supplier waste requirements, or customer waste education were found in the provided articles.

1

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AI-generated analysis based on publicly available data. Not financial advice. Ratings are expressions of opinion derived from automated models and may contain inaccuracies. See our Risk Disclosure for full details.