From GlobeNewswire: 2025-02-26 06:59:00

Steve Madden, a leading designer and marketer of fashion-forward footwear, accessories, and apparel, announced its financial results for the fourth quarter and full year of 2024. Revenue increased by 15.2% to $2,282.9 million in 2024 compared to $1,981.6 million in 2023. The company also provided its 2025 outlook, expecting revenue to increase by 17-19% and diluted EPS to be in the range of $2.30 to $2.40. Additionally, Steve Madden expects to close the acquisition of Kurt Geiger in the second quarter of 2025, adding a new growth engine to the company’s portfolio.

In the fourth quarter of 2024, revenue for Steve Madden’s wholesale business increased by 13.6% to $402.9 million, with a 1.0% increase in wholesale footwear revenue and a 35.4% increase in wholesale accessories/apparel revenue. The company also saw an 8.4% increase in direct-to-consumer revenue, driven by growth in both brick-and-mortar and e-commerce businesses. Steve Madden ended the year with 291 brick-and-mortar retail stores, five e-commerce websites, and 42 concessions in international markets.

The company’s balance sheet as of December 31, 2024, shows cash, cash equivalents, and short-term investments totaling $203.4 million, with inventory totaling $257.6 million. During 2024, Steve Madden spent approximately $98.4 million on repurchases of its common stock. The company’s Board of Directors approved a quarterly cash dividend of $0.21 per share, payable on March 21, 2025. Interested stockholders can listen to the conference call discussing the financial results and 2025 outlook on February 26, 2025, at 8:30 a.m. Eastern Time.



Read more at GlobeNewswire: Steve Madden Announces Fourth Quarter and Full Year 2024