Steve Madden news and archive

Steve Madden acquires Almost Famous for 52 million dollars

Steven Madden, Ltd. has completed the acquisition of privately held Almost Famous, a designer and marketer of women’s apparel. The company said in a statement that the acquisition was completed for 52 million dollars in cash, plus an earn-out provision based on future financial performance. Commenting on the acquisition, Edward Rosenfeld,...

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Steve Madden posts rise in revenue and profit

Steven Madden, Ltd. reported revenue increase of 0.5 percent to 361 million dollars for the first quarter compared to the same period of 2020. The company said, gross margin increased 130 basis points to 38.5 percent. Net income was 21.2 million dollars or 26 cents per diluted share compared to net loss of 17.5 million dollars or 22 cents per...

Business

Steve Madden completes stake acquisition in European JV

Steven Madden, Ltd. has announced that it has completed the acquisition of the 49.9 percent share that it did not already own of its European joint venture. Commenting on the development, Edward Rosenfeld, the company’s chairman and chief executive officer, said: “Since its formation nearly five years ago, our European joint venture has...

Business

Steve Madden's Q4 revenues decline

For the fourth quarter revenue at Steve Madden decreased 15.9 percent to 353 million dollars. Gross margin for the quarter was 38.3 percent compared to 37.7 percent in the same period of 2019, while adjusted gross margin increased 40 basis points to 38.2 percent compared to 37.8 percent in the same period of 2019. Net income attributable to...

Business

María Teresa Kumar joins Steve Madden’s board of directors

Steve Madden has announced that María Teresa Kumar has joined the board of directors. Kumar’s appointment expands the board to ten directors, eight of whom are independent directors. Kumar, the company said, will be a member of the company’s corporate social responsibility committee. Commenting on Kumar’s appointment, Edward Rosenfeld, Chairman...

Business

Steve Madden promotes Zine Mazouzi to Chief Financial Officer

Steve Madden has announced the appointment of Zine Mazouzi, currently chief accounting officer and senior vice president of finance and operations, to succeed Arvind Dharia as Chief Financial Officer, effective January 1, 2021. To ensure a smooth transition, the company said, Dharia will serve in an advisory capacity through 2021. Commenting on...

Business

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...

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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...

Fashion

Steve Madden launches sister brand, Steven New York

Steve Madden has introduced Steven New York - a new sister brand to the contemporary footwear label. Steven New York will be marketed towards women in the 30-to-55 age bracket. The brand will offer fashionable, high-quality footwear styles. Price points will fall between 49.95 and 257.99 dollars per pair. The Steve Madden label will focus on...

Business

Steve Madden revenues decline by 13.6 percent in the first quarter

Revenue at Steve Madden decreased 13.6 percent to 359.2 million dollars compared to the same period of 2019. The company said in a statement that gross margin for the quarter was 37.2 percent compared to 38.9 percent in the same period last year. The company added that net loss attributable to Steven Madden, Ltd. was 17.5 million dollars or 22...

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Steve Madden reports increase in Q4 sales and profit

Steve Madden’s fourth quarter revenue increased 0.7 percent to 419.6 million dollars. The company said in a statement, gross margin was 37.7 percent compared to 38.1 percent in the same period last year, while adjusted gross margin was 37.8 percent in 2019. Net income attributable to Steven Madden, Ltd. was 17.8 million dollars or 21 cents per...

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Steve Madden sales and earning grow in Q3, raise FY19 outlook

For the third quarter of 2019, Steve Madden said, net sales increased 8.5 percent to 497.3 million dollars, while gross margin was 38.4 margin compared to 38.2 percent in the same period last year, an increase of 20 basis points. Net income attributable to Steven Madden, Ltd. was 52.5 million dollars or 63 cents per diluted share compared to...