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- Steven Madden Ltd SHOO reported third-quarter FY21 total revenue growth of 52.4% year-on-year, to $528.74 million, beating the analyst consensus of $522.08 million.
- Revenue for the wholesale business increased 41.6% to $402 million, and Retail revenue rose 108.6% to $123.1 million.
- The gross profit margin expanded 130 basis points Y/Y to 41.6%.
- The operating margin was 16.7%, and operating income for the quarter was $88.4 million.
- EPS of $0.82 beat the analyst consensus of $0.76.
- Steven Madden held $259.9 million in cash and equivalents as of September 30, 2021. Cash provided by operating activities for the nine months totaled $96.2 million.
- Outlook: Steven Madden sees FY21 adjusted EPS of $2.30 - $2.35 (prior view $2.00 - $2.10) versus the consensus of $2.13.
- The company expects an FY21 revenue increase of 50% - 52% (prior 43% - 47%) over fiscal 2020.
- Price Action: SHOO shares closed higher by 8.52% at $48.65 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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