Steve Madden increases quarterly sales by almost 18 percent

US fashion retailer Steve Madden has also closed the second quarter of the 2024 fiscal year with a significant increase in sales. The company was also able to improve its earnings. This is according to an interim report published by the parent company Steven Madden Ltd. on Wednesday.

In the period from April to June, group sales amounted to 523.6 million US dollars (482.9 million euros). This represented an increase of 17.6 percent compared to the same quarter last year. The company benefited from the sales contributions of the Almost Famous brand, which was acquired last autumn .

In the wholesale business, revenues grew by 22.5 percent to 385.3 million euros. Adjusted for Almost Famous's share, they increased by 8.2 percent. Retail sales increased by 6.4 percent to 136.4 million US dollars.

Despite a lower gross margin, operating profit increased by 6.4 percent to 46.9 million US dollars. Net profit attributable to shareholders reached 35.4 million US dollars (32.6 million euros), which represented an increase of 2.5 percent compared to the same quarter last year. Adjusted for special effects, it grew by 18.1 percent to 41.2 million US dollars.

This article was originally published on FashionUnited.DE, translated and edited to English.