Home / Knowledge / News / Fashion / Steven Madden provides outlook for 2008
Steven Madden provides outlook for 2008
Feb '08
Steven Madden Ltd, a leading designer, wholesaler and marketer of fashion footwear and accessories for women, men and children, announced financial results for the fourth quarter and fiscal year ended December 31, 2007.

Fourth quarter net sales were $102.7 million compared to $114.1 million reported in the comparable period of 2006, reflecting the weak economic environment as well as the absence of any major footwear trends. Gross margin declined to 37.9% from 40.8%, reflecting margin declines in both the wholesale and retail divisions.

Operating expenses as a percent of sales were 34.0% versus 29.6% in the same period of the prior year, due primarily to reduced leverage on lower sales versus the prior year period as well as expenses associated with new store openings.

Operating income for fourth quarter decreased to $7.0 million, or 6.8% of sales, compared with operating income of $16.7 million, or 14.6% of sales, in the same period of 2006. Net income decreased 53.2% to $4.7 million, or $0.23 per diluted share, compared to $10.0 million, or $0.45 per diluted share, in the prior year's fourth quarter.

Revenues from the wholesale business were $63.5 million compared to $76.6 million in the fourth quarter of 2006 due to a challenging selling environment with a lack of strong direction in footwear fashion trends as well as the weak macroeconomic environment.

Gross margin in the wholesale business declined to 26.8% from 31.5% in theprior year's fourth quarter, due primarily to higher markdown allowances relative to the year ago period.

Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Divvya and Nidhhi Gambhir

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search