SHOO - What's Going On With Steven Madden Shares After Q4 Results? | Benzinga
Steven Madden, Ltd. (NASDAQ:SHOO) shares are trading lower on Wednesday.
The company reported fourth-quarter adjusted earnings per share of 61 cents, beating the Wall Street View of 57 cents.
Quarterly revenues of $519.714 million surpassed the analyst consensus of $511.968 million. Revenue increased 10.4% year over year.
Direct-to-consumer revenue was $162.3 million, a 1.9% increase year over year, driven by an increase in the brick-and-mortar business. Revenue for the wholesale business was $354.8 million, a 14.9% increase year over year.
Gross profit as a percentage of revenue was 41.3% compared to 42.2% in the same period of 2022. Adjusted operating expenses as a percentage of revenue were 31.5% compared to ...