Steven Madden reported second-quarter revenue of $665.9 million, beating analyst estimates of $635.5 million and growing 19.1% year on year. Adjusted earnings per share came in at $0.44, 34.3% above the consensus estimate of $0.33. The company's operating margin improved to 5.9% from negative 7.2% a year ago, driven by higher average selling prices, reduced promotions, and a shift away from lower-margin private label sales. CEO Edward Rosenfeld attributed the strong performance to momentum in the Steve Madden brand, a rebound in handbags, and growth in the Kurt Geiger and Dolce Vita brands. Looking ahead, management expects continued direct-to-consumer momentum but flagged cost pressures from higher freight and marketing investments in the second half.
Steven Madden LtdQ2 revenue and EPS beat estimates with margin expansion