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Dec 31, 2022
Steve Madden Q4 2022 Earnings Report
Steve Madden's earnings aligned with expectations for Q4 and FY 2022, reporting double-digit percentage growth in both revenue and earnings for the full year.
Key Takeaways
Steve Madden reported Q4 2022 earnings in line with expectations, with wholesale revenue decreasing by 24.8% and direct-to-consumer revenue decreasing by 3.2%. The company ended the quarter with a strong cash position of $289.8 million and repurchased $36.8 million of common stock during the quarter. They are cautious on the near-term outlook due to the challenging operating environment and conservative initial Spring orders from wholesale customers.
Wholesale revenue decreased by 24.8% compared to Q4 2021.
Direct-to-consumer revenue decreased by 3.2% compared to Q4 2021.
Gross profit margin for wholesale declined to 30.5% due to increased closeouts.
Gross profit margin for direct-to-consumer increased to 64.0% due to reduced air freight expense.
Revenue by Segment
Forward Guidance
For 2023, the Company expects revenue will decrease 6.5% to 8.0% compared to 2022. The Company expects diluted EPS will be in the range of $2.40 to $2.50.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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