From Nasdaq, Inc.:

Steven Madden, Ltd. SHOO gains on innovation and international growth, showing resilience and strategic vision. The company’s adaptability to changing market dynamics and diversified approach make it a key player. The third quarter of 2023 witnessed a staggering 27% increase in overall accessories and apparel revenues, with the Steve Madden handbag business leading with a 52% revenue growth.

Steven Madden recently acquired Almost Famous for $52 million in cash, given the brand’s $163 million revenues in the 12 months ending Sep 30, 2023. This aligns seamlessly with SHOO’s forward-looking growth strategy, with impacts expected this financial year.

Amid positive strides, SHOO acknowledges softening industry trends starting in September due to the Middle East crisis. Nevertheless, it commits to advancing digital commerce initiatives, extending its global footprint, and optimizing expense management.

Three promising stocks to watch are The Gap, Abercrombie & Fitch, and Deckers, all with favorable Zacks Ranks and strong performance figures. Additionally, Zacks Investment Research recommends an outstanding semiconductor stock with exceptional growth potential in the global market.



Read more: Steven Madden (SHOO) Gains on Innovation, International Growth