Steve Madden Just Had Its Biggest Quarter Ever, Thanks to Marketing Plays, Handbags and DTC Growth

Forget recovery. Steven Madden Ltd. posted earnings and revenue results that surpassed its pre-pandemic performance. The New York-based footwear company on Wednesday delivered its highest-ever quarterly sales and earnings in the firm’s history. For the third quarter, revenue increased 52.4% to $528.7 year-over-year and increased 5% compared with 2019. Net income was $66.6 million, or $0.82 per diluted share, up 22% from 2019. Shares of Steve Madden jumped Wednesday following the results and were as high as 9% by late afternoon. Even amid global supply chain headwinds, Steve Madden managed to pull off a quarter of record growth. According to analysts, its success will likely be even greater once delays and congestion are cleared. “When supply chain headwinds subside, [the company’s] industry-leading speed to market, combined with Steve Madden’s chameleon-like ability to deliver trend-right product and develop a loyal following, will result in profitable revenue growth and further share gain,” wrote Williams Trading analyst Sam Poser in a note. Here are three factors setting up Steve Madden for long-term growth: Expanding outside of footwear Steve Madden is focused on expanding its business beyond footwear into other high-growth categories such as handbags and apparel. In a call with investors, chairman and CEO Edward Rosenfeld said that the company’s handbag

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