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Steven Madden Ltd. (symbol: SHOO) is a globally recognized leader in the fashion industry. Founded in 1990, the company has established a substantial presence with offices and stores throughout the United States. Known for its dynamic and fast-paced work environment, Steven Madden Ltd. employs hundreds of individuals across various areas of expertise.
The company's core business spans retail, wholesale, licensee, and international operations, constantly seeking new ideas and versatility. Steven Madden Ltd. markets products under its owned brands, including Steve Madden, Steven by Steve Madden, Madden Girl, Freebird by Steven, Stevies, Betsey Johnson, Dolce Vita, DV by Dolce Vita, Brian Atwood, B Brian Atwood, Report Signature, Report, Big Buddha, Wild Pair, Cejon, and Mad Love. Additionally, the company is a licensee for brands such as Olsenboye for footwear, handbags, and belts, and Superga and L.E.I. for footwear.
Steven Madden Ltd. designs and sells both brand-name and private-label footwear and accessories, catering to fashion-conscious adults and children. Its products are available through department stores, other retailers, and its own stores and websites. The company’s revenue is generated from various operating segments: Wholesale Footwear, Wholesale Accessories or Apparel, Direct-to-Consumer, and Licensing.
The Wholesale Footwear segment is the largest revenue contributor, followed by Wholesale Accessories or Apparel. Meanwhile, the Direct-to-Consumer segment includes sales made through the company’s retail stores and e-commerce platforms, while the Licensing segment involves revenue from licensing agreements.
Steven Madden Ltd. continues to innovate and expand its product offerings, maintaining a strong financial position and strategic partnerships. Recent achievements and projects highlight the company’s commitment to growth and leadership in the fashion sector.
Steven Madden, Ltd. (Nasdaq: SHOO) reported a substantial revenue increase of 178.6% for Q2 2021, reaching $397.9 million, compared to $142.8 million in Q2 2020. Gross margin improved to 42.7%, and net income was $36.9 million or $0.45 per diluted share, recovering from a net loss of $(16.6) million in the previous year. The company also plans to increase revenues by 43% to 47% over 2020. A quarterly cash dividend of $0.15 per share was approved, payable on September 27, 2021.
Steven Madden, Ltd. (NASDAQ: SHOO) announced plans to release its Q2 2021 earnings results on July 28, 2021. A conference call will take place at 8:30 a.m. ET for management to discuss the financial outcomes. Analysts can join via North American dial-in at (877) 552-1336 or international at (805) 905-2996, using conference ID 5251407. The call will be accessible to employees and the public through a live internet stream as well as a replay available for 12 months after the event.
Steven Madden, Ltd. (Nasdaq: SHOO) reported a 0.5% revenue increase in Q1 2021, totaling $361.0 million. Gross margin improved to 38.5% from 37.2% year-over-year. Operating expenses fell to 30.6% of revenue, leading to an operating income of $28.0 million, a significant recovery from a loss in Q1 2020. Net income reached $21.2 million, or $0.26 per diluted share. The company declared a quarterly cash dividend of $0.15 per share. Looking ahead, Q2 revenue is projected between $360 million and $365 million amid ongoing COVID-19 challenges.
On April 14, 2021, Steven Madden, Ltd. (NASDAQ: SHOO) announced the completion of its acquisition of the remaining 49.9% stake in its European joint venture, enhancing its presence in the European market where it distributes Steve Madden-branded products. Since its establishment in June 2016, the joint venture has seen robust growth, including a 21% revenue increase in 2020 despite COVID-19 challenges. Edward Rosenfeld, CEO, expressed optimism about future growth, leveraging the company's strong digital-first approach.
Steven Madden, Ltd. (NASDAQ: SHOO) has announced that it will release its first quarter 2021 earnings results on April 28, 2021. A conference call is scheduled for 8:30 a.m. Eastern Time to discuss the results. Financial analysts can join via specified dial-in numbers, and the public can listen online at the provided link. A replay of the call will be available for 12 months. The company is a leading designer of fashion footwear and accessories, with a diverse range of brands and distribution channels worldwide.
Steve Madden (Nasdaq: SHOO) reported a 15.9% decrease in fourth-quarter revenue to $353.0 million and a 32.8% drop in annual revenue to $1.2 billion for 2020. Despite pandemic challenges, adjusted gross margin improved slightly to 38.2%. The company reinstated its quarterly cash dividend of $0.15 per share, payable on March 26, 2021. Net income for Q4 was $22.6 million or $0.28 per diluted share, up from $17.8 million or $0.21 per diluted share in Q4 2019. The company's outlook remains cautious due to ongoing COVID-19 impacts.
Steven Madden, Ltd. (NASDAQ: SHOO) announced the release date for its fourth quarter and fiscal year end 2020 earnings results on February 25, 2021. A conference call will be held at 8:30 a.m. Eastern Time to discuss these results. Financial analysts can access the call using specific dial-in numbers, and the public can also listen online. The company offers a range of fashion-forward footwear, accessories, and apparel, distributing products through various retail channels and licensing agreements. A replay of the call will be available for 12 months after the live event.
Steve Madden (Nasdaq: SHOO) has appointed María Teresa Kumar to its Board of Directors, raising the total number of directors to ten, with eight being independent. Kumar, the President and CEO of Voto Latino, brings extensive experience in digital communications and engagement with young audiences, enhancing the company's strategic direction. Her role on the Corporate Social Responsibility Committee aims to strengthen efforts in creating positive societal impact. Edward Rosenfeld, CEO, emphasized her unique qualifications to boost stakeholder value.
Steve Madden (Nasdaq: SHOO) announced Zine Mazouzi as the new Chief Financial Officer, effective January 1, 2021, succeeding Arvind Dharia, who will remain as an advisor through 2021. Mazouzi, with over 20 years in the footwear industry and prior leadership roles at Sears Holdings and Nine West Group, is expected to enhance the company's financial strategies. CEO Edward Rosenfeld praised Dharia's 28 years of service, while Mazouzi expressed enthusiasm for driving growth and maintaining a strong financial position. The leadership change reflects the company’s commitment to profitable growth and value creation for shareholders.
Steve Madden (Nasdaq: SHOO) reported a 30.9% revenue decline to $346.9 million for Q3 2020, down from $502.1 million in Q3 2019. Despite this, gross margins improved by 130 basis points to 40.3%. The company recorded a net loss of $6.9 million or ($0.09) per diluted share, compared to a profit of $52.5 million or $0.63 per diluted share in the prior year. Operating expenses increased as a percentage of revenue to 31.7%. Amid ongoing COVID-19 challenges, the firm emphasized its focus on digital commerce and expense management.
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