Steve Madden meets expectations in second quarter - footwearbiz: Leadi

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Steve Madden meets expectations in second quarter

08/08/2018
Footwear group Steve Madden has reported net sales of $395.8 million in the second quarter of 2018 (ended June 30), an increase of 5.8% compared to the same period of last year.

The company’s wholesale business grew 5.2% to $321.4 million during the three-month period, following gains in both wholesale footwear and wholesale accessories. 

Its retail net sales in the second quarter were $74.3 million, 8.5% higher year on year. 

Speaking about the results, Edward Rosenfeld, chairman and CEO of Steve Madden said: “We are pleased with our second quarter results, which were in line with our expectations. Our flagship Steve Madden brand was the highlight in the quarter, with strong growth in the wholesale channel in both domestic and international markets as well as a return to positive comparable store sales growth in the retail channel.”

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