The following is a summary of the Steven Madden, Ltd. (SHOO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Steven Madden's Q1 2024 revenue increased by 19% to $552.4 million compared to Q1 2023, driven by growth in both Wholesale and Direct-to-consumer segments.

• Wholesale revenue rose 21% to $438.2 million, with footwear revenue accounting for $295.7 million, a 4.7% increase from Q1 2023. Remarkably, the Wholesale accessories and apparel revenue rose dramatically by 78.6% to $142.6 million.

• The Direct-to-consumer segment boasted revenue growth of 12.8% to $112.3 million compared to the first quarter of 2023.

• Enhanced financial performance is implied with net income rising to $47 million or $0.65 per diluted share from $37.6 million or $0.50 per diluted share in Q1 2023.

• Future projections indicate a promising 11% to 13% year-over-year growth in 2024.

Business Progress:

• Steven Madden's business continues to expand globally with a 15% revenue growth in international markets.

• Further growth was driven by a 73% rise in accessories and apparel revenue, a return to growth in U.S. Wholesale footwear business with a 5% revenue increase, and successful growth in both digital and brick-and-mortar channels by 13%.

• Steven Madden also marked an improved operating margin of up to 11% for the quarter from 10.3% in Q1 of 2023.

• Additionally, a noted 30% growth in their Private label footwear business and a margin growth by 100 basis points - mainly attributed to the expansion in Madden Girl and Madden NYC apparel, highlight profitable business strategies.

• Steven Madden, Ltd. continues to invest in its handbag business, international market penetration, and direct-to-consumer channels in the U.S, aiming for increased brand presence and revenue growth.

More details: Steven Madden IR

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