Company profile

Ticker
SHOO
Exchange
CEO
Edward R. Rosenfeld
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Madden Steven LTD
SEC CIK
IRS number
133588231

SHOO stock data

(
)

Calendar

5 Aug 19
19 Aug 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 444.97M 410.94M 410.36M 458.48M
Net income 36.57M 34.53M 12.49M 55.56M
Diluted EPS 0.44 0.41 0.15 0.64
Net profit margin 8.22% 8.40% 3.04% 12.12%
Operating income 44.63M 44.66M 25.04M 70.2M
Net change in cash 52.41M -39.78M 27.49M -18.45M
Cash on hand 212.66M 160.26M 200.03M 172.54M
Cost of revenue 279.63M 253.94M 258.05M 283.27M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 1.65B 1.55B 1.4B 1.41B
Net income 129.14M 117.95M 120.91M 112.94M
Diluted EPS 1.5 1.36 1.35 1.85
Net profit margin 7.81% 7.63% 8.64% 8.04%
Operating income 173.38M 169.78M 169.18M 171.65M
Net change in cash 18.82M 55.1M 53.7M -9.04M
Cash on hand 200.03M 181.21M 126.12M 72.41M
Cost of revenue 1.04B 968.36M 877.57M 904.75M

Financial data from company earnings reports

Financial report summary

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Management Discussion
  • Net sales for the three months ended June 30, 2019 increased 12.4% to $444,974 compared to $395,753 in the same period of last year, with growth in the Wholesale Footwear, Wholesale Accessories and Retail segments. Gross margin slightly decreased to 37.2% from 37.3% in the prior year period. The decrease of 10 basis points in gross margin in the current period was driven by decreases in gross margin primarily in our Wholesale Accessories and Retail segments. Operating expenses increased in the second quarter of this year to $119,809 from $108,434 in the second quarter of last year. In the second quarter of 2019 and 2018 operating expenses included net charges of $544 and $2,372, respectively. (See "Non-GAAP Financial Measures" above for a description of the net benefit and charges.) Excluding these items, operating expenses as a percentage of sales were 26.8% for the second quarter of 2019 compared to 26.8% in the second quarter of 2018. Excluding these items, the increase in operating expenses primarily comprised of (i) higher payroll and related expenses, (ii) higher warehouse and distribution expenses, (iii) higher advertising and promotions, and (iv) higher legal charges. Commission and licensing fee income for the second quarter of 2019 increased to $3,147 compared to $2,244 in the second quarter of 2018. The second quarter 2019 Commission and licensing fee income included a $143 recovery associated with the Payless ShoeSource bankruptcy. (See "Non-GAAP Financial Measures" above.) The effective tax rate for the second quarter of 2019 decreased to 21.3% compared to 23.9% in the second quarter of last year. The decrease in effective tax rate is primarily due to a decrease in the amount of GILTI tax incurred, a decrease in the state taxes incurred and a partially offsetting increase in 2019 pre-tax income in jurisdictions with high tax rates. Net income attributable to Steven Madden, Ltd. for the second quarter of 2019 increased to $36,572 compared to net income for the second quarter of 2018 of $32,410. Net income attributable to Steven Madden, Ltd. for the second quarter of 2019 increased to $39,536 (excluding (i) $1,727 after-tax benefit, net of bad debt expense associated with the Payless ShoeSource bankruptcy, (ii) $1,156 after-tax expense in connection with a provision for early lease termination charges, (iii) $501 after-tax expense associated with a divisional headquarters relocation, and (iv) $3,033 after-tax impact of an impairment of the Brian Atwood trademark), as compared to $35,185 (excluding (i) $1,028 tax expense related to an impairment to the preferred interest investment in Brian Atwood Italia Holding, LLC, (ii) $833 after-tax expense in connection with the integration of the Schwartz & Benjamin acquisition and the related restructuring, and (iii) $914 after-tax impact of an expense associated with a warehouse consolidation) for the same period last year.
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New words: aggressive, American, Atwood, Brian, decision, discontinue, divisional, elimination, half, Italia, iv, predecessor, preferred, recovery, relationship, relocation, Restated
Removed: worldwide