Steven Madden‘s attributable net income increased amid higher sales in the second quarter.
The company’s net income rose 2.5 per cent year over year to $35.4 million as revenue climbed 17.6 per cent to $523.6 million.
Wholesale footwear revenue rose 0.9 per cent while wholesale accessories and apparel revenue surged 86 per cent.
Direct-to-consumer revenue jumped 6.4 per cent to $136.4 million.
“This performance was driven by exceptional growth in the accessories and apparel categories and robust gains in international markets and direct-to-consumer channels, demonstrating our team’s strong execution of our key strategic initiatives,” said Edward Rosenfeld, Steven Madden chairman and CEO.
“While the near-term operating environment remains choppy, we are confident that our core strengths – our brands, business model and people – will enable us to drive sustainable revenue and earnings growth over the long term.”
For the full fiscal year, the company forecasts revenue to rise 11 per cent to 13 per cent.