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

4 Nov 19
10 Dec 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 497.31M 444.97M 410.94M 410.36M
Net income 52.46M 36.57M 34.53M 12.49M
Diluted EPS 0.63 0.44 0.41 0.15
Net profit margin 10.55% 8.22% 8.40% 3.04%
Operating income 68.04M 44.63M 44.66M 25.04M
Net change in cash -45.17M 52.41M -39.78M 27.49M
Cash on hand 167.49M 212.66M 160.26M 200.03M
Cost of revenue 306.28M 279.63M 253.94M 258.05M
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 September 30, 2019 increased 8.5% to $497,308 compared to $458,482 in the same period of last year, with growth in the Wholesale Footwear, Wholesale Accessories/Apparel and Retail segments. Gross margin increased to 38.4% from 38.2% in the prior year period. The increase of 20 basis points in gross margin in the current period was driven by increases in gross margin primarily in our Retail and Wholesale Footwear segments, as well as higher margins in our BB Dakota and GREATS acquisitions. Operating expenses increased in the third quarter of this year to $125,147 from $110,007 in the third quarter of last year. In the third quarter of 2019 and 2018 operating expenses included charges of $4,209 and $406, respectively. (See "Non-GAAP Financial Measures" above for a description of the charges.) Excluding these items, operating expenses as a percentage of sales were 24.3% for the third quarter of 2019 compared to 23.9% in the third quarter of 2018. Excluding these items, the increase in operating expenses primarily comprised (i) higher payroll and related expenses, (ii) higher advertising and promotions, and (iii) higher warehouse and distribution expenses, as well as expenses related in the addition of BB Dakota and GREATS. Commission and licensing fee income for the third quarter of 2019 decreased to $2,157 compared to $4,994 in the third quarter of 2018. The effective tax rate for the third quarter of 2019 increased to 23.0% compared to 20.8% in the third quarter of last year. The increase in effective tax rate is primarily due to a decrease in the amount of stock compensation benefit taken in 2019, an increase in 2019 pre-tax income in jurisdictions with higher tax rates, and a partially offsetting decrease in the state taxes incurred. Net income attributable to Steven Madden, Ltd. for the third quarter of 2019 decreased to $52,463 compared to net income for the third quarter of 2018 of $55,563. Net income attributable to Steven Madden, Ltd. for the third quarter of 2019 and 2018 included after-tax charges of $3,536 and $304, respectively. In 2019, these charges included a (i) $2,345 after-tax expense related to early lease termination charges and impairment of lease right-of-use assets, (ii) $808 after-tax expense in connection with the acquisitions of GREATS and BB Dakota brands, and (iii) $383 after-tax expense in connection with deferred tax adjustments and in 2018, the charge included a $304 after-tax expense in connection with the integration of the Schwartz & Benjamin acquisition and the related restructuring. Excluding these charges, net income attributable to Steven Madden, Ltd. for the third quarter of 2019 and 2018 was $55,999 and $55,867, respectively.
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