Steven Madden(US:SHOO)2025-11-05 12:00Revenue Performance - Third quarter 2025 revenue increased by 6.9% to $667.9 million compared to $624.7 million in the same period of 2024[7] - Direct-to-consumer revenue surged by 76.6% to $221.5 million compared to the third quarter of 2024, while wholesale revenue decreased by 10.7% to $442.7 million[4][5] - The company expects fourth quarter 2025 revenue to increase by 27% to 30% compared to the same period of 2024, with diluted EPS projected in the range of $0.30 to $0.35[11] Profitability - Net income attributable to Steven Madden, Ltd. was $20.5 million, or $0.29 per diluted share, down from $55.3 million, or $0.77 per diluted share, in the same period of 2024[7] - Adjusted income from operations totaled $46.3 million, or 6.9% of revenue, compared to $85.4 million, or 13.7% of revenue, in the same period of 2024[7] - For the nine months ended September 30, 2025, net income was $24,366,000, a decrease from $138,099,000 in the same period of 2024[20] - The adjusted diluted net income per share for the nine months ended September 30, 2025, was $1.22, compared to $2.12 for the same period in 2024, reflecting a decrease of approximately 42.5%[25] - The company expects GAAP diluted net income per share for Q4 2025 to be between $0.30 and $0.35, with adjusted diluted net income per share projected between $0.41 and $0.46[25] Expenses and Debt - Operating expenses as a percentage of revenue increased to 36.8% from 28.6% in the same period of 2024[7] - GAAP operating expenses for the nine months ended September 30, 2025, were $687,145,000, up from $507,343,000 in 2024, indicating a significant increase of about 35.4%[23] - Total debt outstanding as of September 30, 2025, was $293.8 million, with cash and cash equivalents totaling $108.9 million, resulting in net debt of $185.0 million[8] Cash Flow and Investments - The company reported a net cash provided by operating activities of $67,630,000 for the nine months ended September 30, 2025, down from $94,245,000 in the prior year[20] - Capital expenditures for the nine months ended September 30, 2025, totaled $29,079,000, compared to $16,642,000 in 2024, representing an increase of approximately 74.5%[20] - The company experienced a net cash used in investing activities of $389,419,000 for the nine months ended September 30, 2025, compared to $16,715,000 in the same period of 2024[20] - The company reported a significant acquisition activity with a net cash outflow of $371,554,000 for the acquisition of businesses during the nine months ended September 30, 2025[20] Store Operations - The company ended the quarter with 397 company-operated retail stores, including 99 outlets, and seven e-commerce websites[6] Dividends - A quarterly cash dividend of $0.21 per share was approved, payable on December 26, 2025[10] Gross Profit - Gross profit as a percentage of revenue was 41.5%, unchanged from the same period of 2024, while adjusted gross profit increased to 43.4% from 41.6%[7]