Steve Madden Q3 Earnings Top Estimates As Revenue Jumps 13%, Lifts 2024 Outlook

Steven Madden, Ltd. (NASDAQ:SHOO) shares are trading lower on Thursday. The company reported third-quarter adjusted EPS of 91 cents, beating the Wall Street View of 89 cents.

Quarterly revenues of $624.7 million surpassed the analyst consensus of $607.9 million. Revenue increased 13.0% year over year.

Direct-to-consumer revenue was $125.5 million, a 7.8% increase year over year. Revenue for the wholesale business was $495.7 million, a 14.4% increase year over year.

Gross profit as a percentage of revenue was 41.5% compared to 42.1% in the same period of 2022. Adjusted operating expenses as a percentage of revenue were 27.9% compared to 27.0% in the same period of 2022.

The company ended the quarter with 282 company-operated brick-and-mortar retail stores and five ...