Steve Madden posts 68.2 percent drop in Q2 revenues

Revenue at Steve Madden decreased 68.2 percent to 142.8 million dollars compared to 449.6 million dollars in the same period of 2019. The company said in a statement that gross margin was 39.1 percent compared to 37.8 percent in the same period last year, while loss from operations totalled 23.7 million dollars or 16.6 percent of revenue compared to income from operations of 44.6 million dollars or 9.9 percent of revenue, in the same period of 2019. Adjusted loss from operations was 21 million dollars or 14.7 percent of revenue compared to adjusted income from operations of 49.1 million dollars or 10.9 percent of revenue, in the same period of 2019.