Steve Madden impresses in the second quarter of 2024 with robust results and international growth.

During a recent conference call, the American footwear manufacturer Steve Madden presented its impressive financial results for the second quarter of 2024. Represented by Danielle McCoy, Edward Rosenfeld, and Zine Mazouzi, the company reported an 18% increase in revenue and a 23% increase in adjusted diluted earnings per share compared to the previous year. The strong results were driven by exceptional growth in the accessories and apparel segments, as well as in international markets and direct-to-consumer channels. Particularly, the EMEA region contributed significantly to the success with a revenue increase of over 20%. The company also gained market share in Europe and expanded through new joint ventures in Southeastern Europe and the Middle East. In the Americas region, Steve Madden saw significant growth in Canada and continued dynamic growth in Mexico. Another key growth driver was the accessories and apparel business, which increased by an impressive 74% in the second quarter, or 27% excluding the acquisition of Almost Famous. Steve Madden's handbag and apparel segments, in particular, showed outstanding performance. The recently acquired Almost Famous contributed $45 million in revenue, supporting the successful entry into new market segments such as Madden Girl Apparel. In direct-to-consumer sales, revenue grew by 6%, with profit margins in this area rising again due to disciplined inventory management and strong product lines. Despite a slight decline in the U.S. wholesale business, Steve Madden achieved impressive overall results due to its strategic diversification and international expansion. For the rest of the year, management continues to expect double-digit revenue growth rates and confirmed the full-year forecast of a revenue increase of 11% to 13% and earnings per share of $2.55 to $2.65. This confidence is based on the solid strategy and disciplined execution by the team, which aims for sustainable, profitable growth and long-term value creation.