Steve Madden achieves record third quarter

Worldwide
Published:  04 November, 2021
Credit: Steve Madden

The high-end footwear brand saw its best ever quarterly sales with revenues of US$528.7 million in the third quarter of 2021, an increase of 52.4% year-on-year.

Gross profit as a percentage of revenue increased to 41.6% compared to 40.3% in the same period of 2020.

Operating expenses as a percentage of revenue decreased to 24.9% compared to 29.7% in the same period of 2020. Adjusted operating expenses as a percentage of revenue were 27% in third quarter 2020.

Retail revenue was US$123.1 million, a 108.6% increase on the same period in 2020, and the company ended the quarter with 216 company-operated retail stores, including six e-commerce websites, as well as 17 company-operated concessions in international markets.

Based on these exceptional results, Steve Madden now expects revenue will increase 50-52% for the total financial year.