The US fashion retailer Steve Madden exceeded market expectations in the fourth quarter of the 2023 financial year. On Wednesday, parent company Steven Madden Ltd. reported. surprisingly significant increases in sales and earnings.
In the period from October to December, sales reached 519.7 million US dollars (480.0 million euros), exceeding the level of the previous year’s quarter by 10.4 percent.
Despite significantly higher one-time charges, the operating profit of US$39.9 million was just above the previous year’s figure (+0.4 percent). Adjusted for special effects, it rose by 25.4 percent to $53.0 million. The quarterly profit attributable to shareholders increased by 12.9 percent and amounted to 35.9 million US dollars (33.1 million euros).
Despite the strong final quarter, the company closed the entire 2023 financial year with losses in sales and earnings. Sales fell 6.6 percent to $1.98 billion, while net profit attributable to shareholders fell 20.6 percent to $171.6 million.