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Steven Madden (SHOO)

Steve Madden designs, sources and markets fashion-forward footwear, accessories and apparel for women, men and children. In addition to marketing products under its own brands including Steve Madden®, Dolce Vita®, Betsey Johnson®, Blondo®, GREATS®, BB Dakota® and Mad Love®, Steve Madden is a licensee of various brands, including Anne Klein® and Superga®. Steve Madden also designs and sources products under private label brand names for various retailers. Steve Madden's wholesale distribution includes department stores, specialty stores, luxury retailers, national chains, mass merchants and online retailers. Steve Madden also operates retail stores and e-commerce websites. Steve Madden licenses certain of its brands to third parties for the marketing and sale of certain products, including ready-to-wear, outerwear, eyewear, hosiery, jewelry, fragrance, luggage and bedding and bath products

Company profile

Ticker
SHOO
Exchange
CEO
Edward Rosenfeld
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
MADDEN STEVEN LTD
SEC CIK
Subsidiaries
Adesso-Madden, Inc. • The Asean Corporation Limited • BA Brand Holdings LLC • BA Brand Management LLC • BAI Holding, LLC • B.B. Dakota, Inc. • BJ Acquisition LLC • Cejon Accessories Inc • Comercial Diecesiette S.A. de C.V. • Daniel M. Friedman & Associates, Inc. ...
IRS number
133588231

SHOO stock data

Calendar

29 Jul 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 150.93M 150.93M 150.93M 150.93M 150.93M 150.93M
Cash burn (monthly) 6.47M 9.27M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 9.36M 13.41M n/a n/a n/a n/a
Cash remaining 141.57M 137.52M n/a n/a n/a n/a
Runway (months of cash) 21.9 14.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 Aug 22 Zine Mazouzi Common Stock, par value $0.0001 per share Payment of exercise Dispose F No No 32.58 361 11.76K 48,735
8 Jun 22 Smith Robert Garrett Common Stock, par value $0.0001 per share Sell Dispose S No No 38.961 2,222 86.57K 8,500
25 May 22 Peter Allan Davis Common Stock, par value $0.0001 per share Grant Acquire A No No 0 3,333 0 3,333
25 May 22 Ferrara Al Common Stock, par value $0.0001 per share Grant Acquire A No No 0 3,333 0 11,467
25 May 22 Maria Teresa Kumar Common Stock, par value $0.0001 per share Grant Acquire A No No 0 3,333 0 6,222
92.8% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 247 258 -4.3%
Opened positions 33 54 -38.9%
Closed positions 44 26 +69.2%
Increased positions 96 78 +23.1%
Reduced positions 91 94 -3.2%
13F shares Current Prev Q Change
Total value 2.84B 3.49B -18.7%
Total shares 73.31M 75.1M -2.4%
Total puts 22.6K 25.5K -11.4%
Total calls 213.9K 38.1K +461.4%
Total put/call ratio 0.1 0.7 -84.2%
Largest owners Shares Value Change
BLK Blackrock 11.9M $460M -0.8%
Vanguard 8.51M $328.92M +1.2%
Wellington Management 7.53M $290.94M +9.4%
MCQEF Macquarie 4.2M $162.4M +6.3%
STT State Street 2.62M $101.42M +3.2%
TROW T. Rowe Price 2.26M $87.46M +0.2%
Dimensional Fund Advisors 1.78M $68.9M +0.2%
Cramer Rosenthal MCGLYNN 1.53M $59.16M -13.3%
Nuveen Asset Management 1.45M $58.15M +0.2%
Geode Capital Management 1.38M $53.34M +2.5%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -740.06K EXIT
Victory Capital Management 986.32K -735.51K -42.7%
Wellington Management 7.53M +648.82K +9.4%
JHG Janus Henderson 16.85K -635.24K -97.4%
Assenagon Asset Management 352.32K +328.66K +1389.5%
RY Royal Bank Of Canada 50.35K -304.5K -85.8%
MCQEF Macquarie 4.2M +250.6K +6.3%
Leeward Investments, LLC - MA 239.24K +239.24K NEW
First Trust Advisors 321.68K +238.61K +287.2%
Cramer Rosenthal MCGLYNN 1.53M -234.37K -13.3%

Financial report summary

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Risks
  • The current COVID-19 coronavirus pandemic and related government, private sector, and individual consumer responsive actions have and could continue to affect our business operations, store traffic, employee availability, supply chain, financial condition, liquidity, and cash flow.
  • The fashion footwear, accessories and apparel industry is subject to rapid changes in consumer preferences. If we do not accurately anticipate fashion trends and promptly respond to consumer demand, we could lose sales, our relationships with customers could be harmed and our brand loyalty could be diminished.
  • We face intense competition from both established companies and newer entrants into the market. Our failure to compete effectively could cause our market share to decline, which could harm our reputation and have a material adverse impact on our financial condition, results of operations and liquidity.
  • If we and the retailers that are our customers are unable to adapt to recent and anticipated changes in the retail industry, the sales of our products may decline, which could have a material adverse effect on our financial condition, results of operations and liquidity.
  • The loss of Steve Madden, our founder and Creative and Design Chief, or members of our executive management team could have a material adverse effect on our business.
  • If we are not successful in implementing our growth strategy or integrating acquired businesses, we may not be able to take advantage of certain market opportunities and may become less competitive.
  • If one or more of our significant customers were to reduce or stop purchases of our products, our sales and profits could decline.
  • Our financial results are subject to quarterly fluctuations.
  • Extreme or unseasonable weather conditions in locations where we or our customers and suppliers are located could adversely affect our business.
  • We extend credit to most of our customers in the United States, and their failure to pay for products shipped to them could adversely affect our financial results.
  • Our stock price may fluctuate substantially if our operating results are inconsistent with our forecasts or those of analysts who follow us.
  • Disruptions to our product delivery systems and failure to effectively manage inventory based on business trends across various distribution channels could have a material adverse effect on our business, financial condition, results of operations and liquidity.
  • Our reliance on foreign manufacturers to provide materials or produce our goods in a timely manner or to meet our quality standards could cause problems if we experience a supply chain disruption and we are unable to secure an alternative source of raw materials or end products.
  • Changes in trade policies and tariffs imposed by the United States government and the governments of other nations could have a material adverse effect on our business and results of operations.
  • If our manufacturers, the manufacturers used by our licensees or our licensees themselves fail to use acceptable labor practices or to otherwise comply with local laws and other standards, our business reputation could suffer.
  • Our global operations expose us to a variety of legal, regulatory, political and economic risks that may adversely impact our results of operations in certain regions.
  • Our business is exposed to foreign exchange rate fluctuations.
  • We may be subject to additional tax liabilities as a result of audits by various taxing authorities.
  • Disruption of our information technology systems and websites could adversely affect our financial results and our business reputation.
  • Our business and reputation could be adversely affected if our computer systems or the systems of our business partners or service providers, become subject to a data security or privacy breach or other disruption from a third party.
  • Failure to adequately protect our trademarks and intellectual property rights, to prevent counterfeiting of our products or to defend claims against us related to our trademarks and intellectual property rights could reduce sales and adversely affect the value of our brands.
  • A portion of our revenue is dependent on licensing our trademarks. The actions of our licensees or the loss of a significant licensee could diminish our brand integrity and adversely affect our revenue and results of operations.
  • Changes in economic conditions may adversely affect our financial condition, results of operations and liquidity.
  • Litigation or other legal proceedings could divert management resources and result in costs that adversely affect our operating results from quarter to quarter.
  • Changes in tax laws could have an adverse effect upon our financial results.
  • SEC rules relating to “conflict minerals” require us to incur additional expenses and could adversely affect our business.
  • Any failure to maintain effective internal control over our financial reporting could materially adversely affect us.
Management Discussion
  • Total revenue for the three months ended June 30, 2022 increased 34.5% to $534,989 compared to $397,894 in the same period of last year, primarily due to increases in the Wholesale Footwear, Wholesale Accessories/Apparel and Direct-to-Consumer segments. Gross profit was $217,765, or 40.7% of total revenue, as compared to $170,055, or 42.7% of total revenue, in the prior-year period. The decrease in gross profit as a percentage of total revenue was driven by a shift in revenue mix from the higher-margin Direct-to-Consumer business to the lower-margin wholesale business. Operating expenses in the second quarter of 2022 were $152,526, or 28.5% of total revenue, as compared to $121,860, or 30.6% of total revenue, in the second quarter of the prior year. The decrease in operating expenses as a percentage of total revenue was primarily attributable to greater leverage from higher revenue, and a benefit from the change in valuation of our contingent considerations, partially offset by the accelerated amortization of a trademark. For the three months ended June 30, 2021, impairment charges of $477 related to fixed assets and lease right-of-use assets were recorded. No similar impairment charges were recorded during the three months ended June 30, 2022. Income from operations for the three months ended June 30, 2022 increased to $65,239, or 12.2% of total revenue, as compared to $47,718, or 12.0% of total revenue, in the prior-year period. The effective tax rate in the second quarter of 2022 was 23.5% compared to 20.5% in the second quarter of last year. The difference in effective tax rate was primarily due to the decreased discrete benefit from the exercising and vesting of share-based awards and the jurisdictional mix of profit and losses from each period. Net income attributable to Steven Madden, Ltd. for the second quarter of 2022 was $48,460 compared to $36,852 in the second quarter of 2021.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: add, age, aging, allocated, anti, applied, assist, behavior, Blondo, channel, chargeback, commercial, correlated, cybersecurity, damaged, data, detail, discipline, disposition, doubtful, employ, enhance, eventual, external, factory, finite, flat, floor, foreseeable, frequently, gather, hand, incorporating, indefinite, influenced, insurance, intelligence, judgment, life, likelihood, maximize, misinterpretation, misunderstanding, navigate, order, paper, party, Proprietary, put, quantitative, realizable, recessionary, regular, reimburse, relevant, reserve, seasonal, support, traditional, uncollectible, variation, vary
Removed: favorable, penetration, Superga