Q3 2024 Steven Madden Ltd Earnings Call Transcript
Key Points
- Steven Madden Ltd (SHOO) delivered strong Q3 2024 results with revenue and earnings exceeding expectations.
- The accessories and apparel categories, particularly Steve Madden handbags, showed exceptional performance.
- International revenue grew 11% in Q3, with significant growth in the EMEA region and new joint ventures in the Middle East and Latin America.
- Direct-to-consumer revenue increased by 8% in Q3, with e-commerce revenue growing by 10%.
- The company raised its 2024 revenue and earnings guidance, reflecting confidence in continued growth.
- Wholesale footwear revenue declined by 4% in Q3, with branded business facing challenges.
- Gross margin decreased to 41.6% from 42.1% due to the impact of the Almost Famous acquisition.
- Operating expenses increased to 27.9% of revenue, driven by higher marketing investments and incentive compensation.
- Inventory levels rose to $268.7 million, primarily due to increased transit times.
- The company faces potential risks from tariffs on Chinese imports, with a significant portion of goods currently sourced from China.
Good day and thank you for standing by. Welcome to the Q3 2024 Steven Madden Limited earnings conference call. At this time, all participants are in a listen-only mode. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today Danielle McCoy, VP of Corporate Development and Investor Relations. Please go ahead.
Thanks, [Rica] and Good morning, everyone. Thank you for joining our third 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
| 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... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
