Fashion Accessory Company Steve Madden Takes A Cautious View On Its Near-Term Outlook: Read Why

Grand News Network | November 8, 2023

Steven Madden Ltd (NASDAQ: SHOO) reported a slight sales decline of 0.7% year-on-year to $552.73 million for the third quarter of FY23, beating the consensus of $549.32 million.

Revenue for the wholesale business decreased 0.3% Y/Y to $433.5 million, and Direct-to-consumer revenue fell 1.8% to $116.4 million.

Gross profit margin was 42.1% compared to 41.2% in the same period of 2022. The operating margin was 15.1%, up 81 bps, and operating income for the quarter was $82.74 million (+5.1% Y/Y).

Adjusted EPS improved to $0.88 from $0.79 in 3Q22, 

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