Steven Madden reports Q3 results
US designer, wholesaler and retailer of fashion footwear for women, men and children Steven Madden, Ltd. has announced positive financial results for the third quarter and nine months ended September 30, 2005.
In line with recently updated expectations, third quarter net sales increased 12.9% to $100.1 million compared with $88.6 million reported in the same period last year.
Revenues from the wholesale division, comprising the company's six primary brands, Steve Madden Women’s, Steve Madden Men’s, Stevies, l.e.i., Steven, and Candie's, increased 9.5% to $71.0 million for the quarter compared with $64.9 million reported in the year-ago period. During the quarter, retail revenues increased 22.3% to $29.1 million versus $23.8 million in the comparable period. Same-store sales were up 12.3%.
For the first nine months of 2005, net sales increased 12.1% to $284.4 million compared with $253.6 million in the same period last year. Net income was $11.8 million versus $11.9 million in the comparable period last year.
