Steven Madden Ltd (FRA:SJM)
€ 41.8 1.2 (2.96%) Market Cap: 3.00 Bil Enterprise Value: 3.01 Bil PE Ratio: 18.99 PB Ratio: 3.89 GF Score: 93/100

Q2 2024 Steven Madden Ltd Earnings Call Transcript

Jul 31, 2024 / 12:30PM GMT
Release Date Price: €40.8 (+0.99%)

Key Points

Positve
  • Revenue increased by 18% and adjusted diluted EPS rose by 23% compared to the same period in 2023.
  • Exceptional growth in accessories and apparel categories, with overall accessories and apparel revenue rising 74%.
  • Strong international market performance, with revenue in international markets growing 13% in the second quarter.
  • Direct-to-consumer (DTC) revenue grew 6%, including a 4% increase on a comp basis.
  • Successful integration and performance of the Almost Famous acquisition, contributing $45 million in revenue.
Negative
  • US wholesale footwear business saw only a 2% revenue increase, with branded business experiencing a decline.
  • Consolidated gross margin decreased to 41.5% from 42.6% in the comparable period of 2023.
  • Licensing royalty income dropped to $1.8 million from $2.5 million in the second quarter of 2023.
  • Inventory levels increased by 16.3% compared to the prior year, potentially indicating slower inventory turnover.
  • The company faces significant headwinds in the back half of the year, including a $0.09 impact from freight costs and an $0.08 impact from tax changes.
Operator

Good day. And thank you for standing by. Welcome to the Q2 2024 Steven Madden Limited earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Danielle McCoy, Vice President of Corporate Development and Investor Relations. Please go ahead.

Danielle McCoy
Steven Madden Ltd - Vice President of Corporate Development and Investor Relations

Thanks, Tanya. And good morning, everyone. Thank you for joining our second-quarter 2024 earnings call and webcast.

Before we begin, I'd like to remind you that our remarks that follow, including answers to your questions, contain statements that we believe to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks that could cause actual results to materially differ from those expressed or implied by such forward-looking statements. These risks include, among others, matters that we have

Already have an account? Log in
Get the full story
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot