The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Steven Madden (SHOO) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out. Steven Madden is one of 280 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in o ...

A month has gone by since the last earnings report for Steven Madden (SHOO) . Shares have added about 2.4% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Steven Madden due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Steven Madden Q2 Earnings & Revenues Beat Es ...

Steven Madden, Ltd. (SHOO) has experienced a remarkable jump in its stock price over the past year. The stock has gained 31.1% against the Zacks Shoes and Retail Apparel industry's sharp 11.9% decline. The company focuses on driving growth across its direct-to-consumer business, leveraging digital capabilities, expanding categories beyond footwear such as handbags and apparel and enhancing its international market presence. This strategic approach, along with its market expansion and product diversification ...

NEW YORK, Aug. 19, 2024 /PRNewswire/ -- Today, Unified Commerce Group (UCG) announces the expansion of its portfolio with the acquisition of substantially all assets of GREATS Inc., a digitally-native footwear brand specializing in premium sneakers for men and women, as well as a strategic investment in Utahbased womenswear retailer Böhme. Unified Commerce Group was founded in 2019 as a platform to enable purpose-driven lifestyle brands to scale through shared services, anchored by data-driven customer insi ...

Steven Madden, Ltd.'s (SHOO) strategic initiatives, including its focus on diversification, digital growth and international expansion, have laid a strong foundation for continued success. The company's solid financial performance in second-quarter 2024 highlights its ability to navigate challenges and seize growth opportunities, positioning it well for long-term value creation for stakeholders. The stock has outpaced the Zacks Shoes and Retail Apparel industry in the past year. Shares of this Zacks Rank #2 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to _____________________ Commission File Number: 0-23702 STEVEN MADDEN, LTD. (Exact name of registrant as specified in its charter) Delaware 13-35882 ...

Financial Data and Key Metrics Changes - The company reported consolidated revenue of $523.6 million, a 17.6% increase compared to Q2 2023, with adjusted diluted EPS rising 23% [4][12] - Consolidated gross margin was 41.5%, down from 42.6% in the same period last year, while direct-to-consumer gross margin increased to 64.3%, up 60 basis points year-over-year [14][15] - Operating income for the quarter was $54.5 million, or 10.4% of revenue, up from $44.5 million or 10% of revenue in the prior year [15] Business Line Data and Key Metrics Changes - Accessories and apparel revenue rose 74%, or 27% excluding the newly acquired Almost Famous business, with handbag revenue increasing more than 30% [7][12] - Direct-to-consumer revenue grew 6%, including a 4% increase on a comparable basis, with brick-and-mortar comp growth at 7% and digital at 1% [8][13] - Wholesale revenue was $385.3 million, up 22.5% compared to Q2 2023, with wholesale accessories and apparel revenue up 86% [12] Market Data and Key Metrics Changes - International revenue grew 13% in Q2, with the EMEA region expected to see over 20% growth in 2024 [5][6] - The Americas region saw a rebound in Canada and continued strong momentum in Mexico, with expectations for double-digit revenue growth [6] Company Strategy and Development Direction - The company aims to expand its international business, grow outside of footwear, and strengthen its direct-to-consumer channels [5][9] - The strategy includes diversifying revenue sources, reducing reliance on U.S. wholesale footwear, which is expected to account for less than 40% of overall business in 2024 [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting financial goals for 2024 despite a challenging operating environment, with expectations for revenue growth of 11% to 13% [10][16] - The company is prepared to adapt to potential tariff increases by diversifying sourcing away from China [38][39] Other Important Information - The company has no debt and ended the quarter with $192.2 million in cash and equivalents [16] - A quarterly cash dividend of $0.21 per share was approved, payable on September 23, 2024 [16] Q&A Session Summary Question: Changes to revenue growth guidance composition - Management confirmed no changes to the revenue growth guidance composition, maintaining expectations for low-to-mid singles in wholesale and high singles in direct-to-consumer [18] Question: Organic growth rate in accessories and apparel - Management indicated a slowdown in growth for accessories and apparel in the back half of the year due to tougher comparisons [19] Question: Breakdown of direct-to-consumer revenue growth - Management clarified that brick-and-mortar comp growth was 7%, while digital was 1%, with overall DTC revenue growth at 6.4% [22][23] Question: Inventory levels in the wholesale channel - Management noted that inventory levels in the channel are reasonably controlled, with cautious sales forecasts from major wholesale customers [28] Question: Freight costs and impact on margins - Management stated that freight costs are expected to impact gross margins by about 40 basis points, with a heavier impact anticipated in the fall [32] Question: Performance of Almost Famous acquisition - Management reported that Almost Famous is tracking well, with revenue and profitability exceeding initial expectations [46] Question: Growth drivers in EMEA - Management highlighted strong growth in Continental Europe and the Middle East, with fashion sneakers and handbags being key products [48] Question: Boot business outlook for Q4 - Management expressed caution regarding the boot category, with conservative planning from wholesale customers [52] Question: Anticipated improvement in branded footwear - Management expects the branded wholesale footwear business to improve in the back half of the year, particularly in Q4 [56]

Core Viewpoint - Steven Madden, Ltd. (SHOO) reported better-than-expected second-quarter 2024 results, with revenues and earnings surpassing estimates and increasing year over year [1][4]. Financial Performance - Adjusted quarterly earnings were 57 cents per share, beating the Zacks Consensus Estimate of 51 cents, and increased 21.3% from 47 cents in the prior-year period [4]. - Total revenues rose 17.6% year over year to $523.6 million, with net revenues of $521.7 million increasing 17.8%, surpassing the consensus estimate of $507 million [4]. - Adjusted gross profit increased 14.4% year over year to $217.3 million, while the adjusted gross margin contracted 110 basis points to 41.5% [5]. - Adjusted operating expenses rose 12% year over year to $162.8 million, but as a percentage of revenues, they declined 150 basis points to 31.1% [6]. Segment Performance - Wholesale business revenues improved 22.5% year over year to $385.3 million, with wholesale accessories/apparel revenues growing 86% [7]. - Direct-to-consumer (DTC) revenues increased 6.4% year over year to $136.4 million [8]. Cash and Shareholder Returns - The company ended the quarter with cash and cash equivalents of $180.5 million and stockholders' equity of $808.3 million [9]. - SHOO repurchased $38.2 million of its common stock and declared a quarterly cash dividend of 21 cents per share [10]. Outlook - For 2024, the company anticipates an 11-13% increase in revenues from 2023, with adjusted earnings projected at $2.55-$2.65 per share, compared to $2.30 per share in 2023 [11].

Company Performance - Steven Madden reported quarterly earnings of $0.57 per share, exceeding the Zacks Consensus Estimate of $0.51 per share, and up from $0.47 per share a year ago [3] - The company has surpassed consensus EPS estimates in all of the last four quarters [4] - The latest quarterly report showed an earnings surprise of 11.76%, with a previous quarter surprise of 16.07% [8] Revenue Insights - For the quarter ended June 2024, Steven Madden posted revenues of $523.55 million, surpassing the Zacks Consensus Estimate by 3.30%, compared to $442.84 million in the same quarter last year [15] - The upcoming quarterly earnings are expected to be $1.21 per share, reflecting a year-over-year change of +23.5% [7] - The current consensus EPS estimate for the next quarter is $0.92 on revenues of $608.14 million, and for the current fiscal year, it is $2.62 on revenues of $2.22 billion [11] Industry Context - The Shoes and Retail Apparel industry, where Steven Madden operates, is currently ranked in the top 41% of over 250 Zacks industries, indicating a favorable outlook [6] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [13]

Revenue and Growth - Revenue for the second quarter of 2024 increased 17.6% to $523.6 million, compared to $445.3 million in the same period of 2023[9] - Direct-to-consumer revenue was $136.4 million, a 6.4% increase compared to the second quarter of 2023[11] - The company expects revenue to increase by 11% to 13% for fiscal 2024 compared to 2023[14] - Total revenue for the three months ended June 30, 2024, was $523,553, up from $445,302 in the same period of 2023, reflecting a 17.6% growth[34] - The company’s net sales for the six months ended June 30, 2024, reached $1,072,276, compared to $904,574 for the same period in 2023, reflecting an 18.5% increase[34] Profitability - Gross profit as a percentage of revenue was 41.5%, down from 42.6% in the same period of 2023[9] - Net income attributable to Steven Madden, Ltd. was $35.4 million, or $0.49 per diluted share, compared to $34.5 million, or $0.46 per diluted share, in the same period of 2023[9] - Adjusted net income attributable to Steven Madden, Ltd. was $41.2 million, or $0.57 per diluted share, compared to $34.9 million, or $0.47 per diluted share, in the same period of 2023[9] - GAAP net income attributable to Steven Madden, Ltd. for the three months ended June 30, 2024, was $35,376, compared to $34,529 for the same period in 2023, representing a 2.5% increase[27] - Adjusted net income attributable to Steven Madden, Ltd. for the six months ended June 30, 2024, was $88,241, compared to $72,541 for the same period in 2023, showing a 21.5% increase[27] - GAAP diluted net income per share for the three months ended June 30, 2024, was $0.49, compared to $0.46 for the same period in 2023, a 6.5% increase[27] - Adjusted diluted net income per share for the six months ended June 30, 2024, was $1.22, up from $0.96 for the same period in 2023, representing a 27.1% increase[27] - The company expects GAAP diluted net income per share for 2024 to be between $2.43 and $2.53[27] Expenses and Costs - Operating expenses as a percentage of revenue were 31.3%, down from 32.7% in the same period of 2023[9] - GAAP operating expenses for the three months ended June 30, 2024, were $163,709, an increase from $145,830 in the same period of 2023, which is a 12.2% rise[24] - The company spent $38.2 million on repurchases of its common stock during the second quarter[12] Assets and Liabilities - Cash, cash equivalents, and short-term investments totaled $192.2 million as of June 30, 2024[5] - Total current assets increased to $860,108 thousand as of June 30, 2024, compared to $827,899 thousand a year ago, reflecting a growth of 3.9%[36] - Cash and cash equivalents decreased to $180,457 thousand from $258,056 thousand year-over-year, representing a decline of 30.1%[36] - Total liabilities rose to $542,708 thousand, up from $428,528 thousand a year ago, indicating an increase of 26.7%[36] - Accounts payable increased significantly to $189,772 thousand, compared to $130,417 thousand in the same period last year, marking a rise of 45.5%[36] - Total stockholders' equity decreased to $832,356 thousand from $841,717 thousand year-over-year, a decline of 1.4%[36] Tax and Valuation - The company reported a GAAP provision for income taxes of $11,276 thousand for the three months ended June 30, 2024, compared to $10,923 thousand for the same period in 2023, an increase of 3.2%[41] - Adjusted provision for income taxes was $13,075 thousand for the three months ended June 30, 2024, up from $11,039 thousand in the prior year, reflecting a growth of 18.5%[41] Other Financial Metrics - Goodwill increased to $183,374 thousand as of June 30, 2024, compared to $168,967 thousand a year ago, showing an increase of 8.5%[36] - Operating lease right-of-use asset rose to $143,480 thousand from $116,871 thousand year-over-year, an increase of 22.8%[36] - The company incurred $6.6 million pre-tax expense related to the change in valuation of a contingent consideration from the acquisition of Almost Famous[44]