Not least thanks to a strong final quarter, the US fashion retailer Steve Madden was able to surprisingly increase its sales in the 2021 financial year. After the company slipped into the red last year as a result of the Covid 19 pandemic, it also achieved a high surplus again.
Like parent company Steven Madden Ltd. announced on Thursday that sales last year amounted to 1.87 billion US dollars (1.67 billion euros). It thus exceeded the 2020 level by 55.3 percent. The bottom line was back in the black: Net income attributable to shareholders was $190.7 million (€170.8 million). In the previous year, the company had to show a loss of 18.4 million US dollars because high value adjustments had burdened the result. Adjusted for special effects, net income rose from 51.8 to 203.7 million US dollars.
In the current year, the company intends to continue to grow strongly: Management forecast a sales increase of 10 to 13 percent compared to 2021. Diluted earnings per share should be in the range of 2.66 to 2.76 US dollars. In the past year it had reached a high of 2.34 US dollars.
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