Steven Madden (NASDAQ: SHOO) reported Q3 EPS of $0.65, $0.04 better than the analyst estimate of $0.61. Revenue for the quarter came in at $458.5 million versus the consensus estimate of $472.97 million.

• Net sales increased 3.9% to $458.5 million compared to $441.2 million in the same period of 2017.
• Gross margin was 38.2% compared to 37.6% in the same period last year, an increase of 60 basis points.
• Operating expenses as a percentage of sales were 24.0% compared to 23.8% of sales in the same period of 2017. Adjusted operating expenses as a percentage of sales were 23.9% compared to 23.7% in the same period of 2017.
• Income from operations totaled $70.2 million, or 15.3% of net sales, compared to $65.4 million, or 14.8% of net sales, in the same period of 2017. Adjusted income from operations was $70.6 million, or 15.4% of net sales, compared to Adjusted income from operations of $65.9 million, or 14.9% of net sales, in the same period of 2017.
• Net income attributable to Steven Madden, Ltd. was $55.6 million, or $0.64 per diluted share, compared to $44.2 million, or $0.51 per diluted share, in the prior year's third quarter. Adjusted net income attributable to Steven Madden, Ltd. was $55.9 million, or $0.65 per diluted share, compared to $44.5 million, or $0.51 per diluted share, in the prior year's third quarter.

Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We are pleased with our performance in the third quarter, which included strong financial results as well as progress on a number of our key strategic initiatives. In addition to robust growth in our core Steve Madden Women’s wholesale business, we saw strong gains in international markets, outstanding performance in Blondo and a significant acceleration in our e-commerce business. The momentum in these areas – combined with the power of our brands and the strength of our business model – bolsters our confidence that we can continue to deliver long-term growth and value creation going forward.”

GUIDANCE:

Steven Madden sees FY2018 EPS of $1.76-$1.78, versus the consensus of $1.80.

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