Consolidated revenues in the year were $2.1 billion, up 13.7% from 2021. On its last earnings call, management highlighted that 2022 marked a record year with respect to revenues and earnings. One of the company’s major growth opportunities is expanding its international business. The buyout of BB Dakota, a California-based women's apparel company, through which SHOO is steadily expanding its apparel category, appears encouraging. This transaction distributes the company’s branded footwear and accessories across the majority of countries in Europe. Management concluded the acquisition of the European joint venture. full-price retail outlets and introduced advanced delivery and return options.Īdditionally, management remains optimistic about its strategic agreements to enrich its presence.
It has added high-level talent to the organization, ramped up digital marketing spending, improved data science capabilities, launched a try-before-you-buy payment facility, rolled out buy online, pick-up in store across its entire U.S. The company has also been significantly accelerating its digital commerce initiatives with respect to distribution. Gains from increased investment in digital marketing and robust consumer capabilities such as “try before you buy” have been strengths. Steven Madden remains committed to boosting its e-commerce wing via prudent investments in digital marketing as well as efforts to optimize the features and functionality of the website. This reflects analysts’ optimism about the company.
These estimates suggest growth of 3.8% and 8.4%, respectively, from the year-ago period’s corresponding figures. For 2024, the Zacks Consensus Estimate for Steven Madden’s sales and earnings per share is currently pegged at $2.05 billion and $2.68 each. Markedly, shares of this renowned footwear dealer have risen 10.6% in the past three months, outperforming the industry’s 3.6% gain. Solid gains from product assortments and direct-to-consumer channels also remain tailwinds. SHOO is witnessing strength in the e-commerce business against a tough operating backdrop. SHOO is well-poised for growth, thanks to its sturdy digital efforts and other robust strategies, including international business expansion and brand strength.
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