Free Research Report as Steven Madden’s Revenues Up by 8.03%; Beats Expectations
Stock Monitor: Caleres Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 08, 2017 / Active-Investors free earnings report on Steven Madden, Ltd (NASDAQ: SHOO) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=SHOO. Steven Madden posted its third quarter fiscal 2017 results (Q3 FY17) on October 31, 2017. The leading designer of fashion footwear diluted EPS was up by 4.05% y-o-y, which was in-line with market estimates. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is currently working on the research report for Caleres, Inc. (NYSE: CAL), which also belongs to the Consumer Goods sector as the Company Steven Madden. Do not miss out and become a member today for free to access this upcoming report at:
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Earnings Highlights and Summary
Steven Madden posted net sales of $441.19 million in the current quarter compared to $408.38 million in Q3 FY16, increasing by 8.03% on a y-o-y basis. The current quarter's revenue numbers exceeded analysts' forecasts of $438.70 million.
The Company's cost of sales was $275.30 million in Q3 FY17 compared to $253.88 million in Q3 FY16, up by 8.44% y-o-y. Steven Madden's gross margin was 37.60% in the current quarter compared to 37.80% in Q3 FY16. The Company reported income from operations of $65.44 million in Q3 FY17 compared to $63.77 million in Q3 FY16, increasing by 2.63% on a y-o-y basis.
The net income of Steven Madden was $44.83 million in the current quarter compared to $43.70 million in Q3 FY16, increasing by 2.57% on a y-o-y basis. Diluted EPS was $0.77 in Q3 FY17 compared to $0.74 in Q3 FY16, increasing by 4.05% y-o-y. The current quarter's diluted EPS met analysts' estimates of $0.77.
Steven Madden's Segment Details
Steven Madden has two business segments: Wholesale Business and Retail Business.
Net sales of its Wholesale Business increased by 8.70% y-o-y to $376.90 million in the current quarter, due to increase in the wholesale footwear business which was lowered as a result of a decline in wholesale accessories. The business segment's gross margin was 33.90% in the current quarter, which was the same as the figure reported in Q3 FY16.
The Company reported Retail segment's net sales of $64.30 million in the current quarter compared to $61.80 million in Q3 FY16, increasing by 4.04% y-o-y. The Retail segment's gross margin declined to 59.30% in the current quarter compared to 59.90% in Q3 FY16. The segment's gross margin declined to 59.30% in Q3 FY17 compared to 59.90% in Q3 FY16.
Balance Sheet
Steven Madden had inventories of $124.12 million in the current quarter compared to $111.95 million in Q3 FY16. The long-term liabilities of the Company were $35.96 million in the current quarter compared to $40.98 million in Q3 FY16.
Steven Madden had cash and cash equivalents of $92.08 million on September 30, 2017, compared to $62.72 million on September 30, 2016. The Company repurchased 228,562 shares of Steve Madden's common stock for approximately $9.30 million, during the current quarter.
Store Update
During the current quarter, Steven Madden opened one full price store and three outlet stores in the US and five full price stores in international markets. At the end of Q3 FY17, Steven Madden had 202 company-operated retail and internet stores, along with 15 concession stores in Asia and 32 company-operated concession stores in international market.
Outlook
Steven Madden anticipates adjusted diluted EPS for fiscal 2017 to be in the range of $2.18 to $2.24, while diluted EPS is projected to be in the range of $2.03 to $2.09. It also expects net sales for fiscal 2017 to increase 9% to 11% over net sales of fiscal 2017.
Stock Performance Snapshot
December 07, 2017 - At Thursday's closing bell, Steven Madden's stock was slightly up 0.68%, ending the trading session at $44.15.
Volume traded for the day: 580.77 thousand shares, which was above the 3-month average volume of 538.19 thousand shares.
Stock performance in the last month – up 16.95%; previous three-month period – up 5.24%; past twelve-month period – up 14.53%; and year-to-date – up 23.50%
After yesterday's close, Steven Madden's market cap was at $2.63 billion.
Price to Earnings (P/E) ratio was at 21.00.
The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Footwear & Accessories industry.
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