WEYS · CIK 106532
What Weyco Group, Inc. told the SEC could break it.
Weyco's dominant risk is tariffs landing on its China-centered supply chain. It sources from more than 80 suppliers, but its two largest are both in China and each over 10% of inventory purchases, and 2025 U.S. tariffs on Chinese goods cost it about $16 million in incremental duties — compressing margins despite a 10% July price increase and at times making China trade commercially prohibitive (it is litigating for refunds under IEEPA). Around that, its footwear depends on leather and rubber raw materials whose price or availability could pinch, and its credit is somewhat concentrated, with one customer accounting for 15% of year-end accounts receivable.
4 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Regulatory & policy
- U.S. tariffs on China-sourced footwear ($16M incremental paid in 2025)high
New 2025 U.S. tariffs on Chinese goods compressed Weyco's gross margins (despite a 10% July price increase) and at times made China trade commercially prohibitive; the company paid ~$16M of incremental tariffs in 2025 and is litigating for refunds under IEEPA.
“We paid approximately $16 million of incremental tariffs in 2025.”
Commodity & input dependence
- Dependence on leather and rubber raw materialsmedium
Weyco's footwear production depends on the availability of raw materials, especially leather and rubber; shortages or price spikes in these inputs could unfavorably affect its business.
“Our products depend on the availability of raw materials, especially leather and rubber.”
SEC filing →As of 2026
Customer concentration
- Accounts-receivable concentration in a single customer (15%)medium
One customer accounted for 15% of gross accounts receivable at year-end 2025 (18% in 2024), concentrating credit exposure even though no single customer exceeded 10% of total sales.
“one customer accounted for 15 % of our gross accounts receivable balance.”
SEC filing →As of 2026
Supplier concentration
- Two largest suppliers, both in China, each >10% of inventory purchasesmedium
Although Weyco sources from 80+ suppliers, its two largest — both in China — each accounted for more than 10% of total inventory purchases in 2025, concentrating supply in one country and a few vendors with no long-term contracts.
“While we source from more than 80 suppliers, our two largest suppliers, located in China, each accounted for more than 10% of our total inventory purchases in 2025.”
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