Steve Madden surprises with strong growth in the fourth quarter

US fashion retailer Steve Madden exceeded market expectations in the fourth quarter of the 2023 financial year. On Wednesday, the parent company Steven Madden Ltd. reported surprisingly significant growth in sales and earnings.

During the period from October to December, turnover reached 519.7 million dollars, exceeding the level of the same quarter in the previous year by 10.4 percent.

Despite significantly higher one-off expenses, the operating profit of 39.9 million dollars was just above the previous year's figure (+0.4 percent). Adjusted for special effects, it rose by 25.4 percent to 53.0 million dollars. Net profit for the quarter attributable to shareholders increased by 12.9 percent to 35.9 million dollars.

Despite the strong final quarter, the company closed the entire 2023 financial year with losses in turnover and earnings. Turnover shrank by 6.6 percent to 1.98 billion dollars, while the net profit attributable to shareholders fell by 20.6 percent to 171.6 million dollars.