Steve Madden (SHOO) Tops Q2 EPS by 18c; Raises Outlook

Steve Madden (NASDAQ: SHOO) reported Q2 EPS of $0.48, $0.18 better than the analyst estimate of $0.30. Revenue for the quarter came in at $397.9 million versus the consensus estimate of $371.69 million.

Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We are excited about the strong and accelerated recovery we are seeing in our business. Our second quarter results significantly exceeded our expectations, with earnings slightly ahead of pre-COVID-19 second quarter 2019. Our retail segment was the standout, as the exceptional performance in our e-commerce business – fueled by the trend-right product assortments created by Steve and our design teams combined with effective digital marketing – drove an increase in retail revenue of 63% compared to pre-COVID-19 second quarter 2019. Looking ahead, while the environment remains volatile, we are confident that the strength of our brands and momentum in our business position us to drive revenue and earnings growth in the back half of 2021 and beyond.”

GUIDANCE:

Steve Madden sees FY2021 EPS of $2.00-$2.10, versus the consensus of $1.71.

For earnings history and earnings-related data on Steve Madden (SHOO) click here.

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