Steve Madden posts 30.9 percent drop in Q3 sales

Steve Madden revenue decreased 30.9 percent to 346.9 million dollars compared to 502.1 million dollars in the same period of 2019. The company’s gross margin increased 130 basis points to 40.3 percent, while net loss attributable to Steven Madden, Ltd. was 6.9 million dollars or 9 cents per diluted share, compared to net income of 52.5 million dollars or 63 cents per diluted share, in the same period of 2019, while adjusted net income attributable to Steven Madden, Ltd. was 31.8 million dollars or 39 cents per diluted share compared to adjusted net income of 56 million dollars or 67 cents per diluted share, in the same period of 2019.