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Steven Madden Q4 profit surges on robust sales
02 Mar '06
3 min read
The net sales for the full year increased 11.1 percent to $375.8 million from $338.1 million last year. Net income increased 56.4 percent to $19.2 million from $12.3 million reported for 2004. It opened 12 stores and closed five stores during the year, ending with 98 retail locations, including the Internet store.
Karson continued, "2005 was an outstanding year for the company and this is due to several factors, notably the return of our founder, Steve Madden, to the company. Steve's creative talents have re-energized the company and the brand and our annual results clearly reflect his ability to inspire the team to consistently deliver fresh and trend-right product to our customers.”
With respect to the outlook for 2006, the company is optimistic about its prospects for the year. The company plans to further improve gross margin by continuing the strategies put in place in 2005, including a sharper focus on inventory management. It expects to open 8-10 retail locations during the year.
"We are optimistic as we move forward and believe we are better positioned than ever before," concluded Karson.
Steven Madden Ltd designs and markets fashion-forward footwear and accessories for women, men and children.
Karson continued, "2005 was an outstanding year for the company and this is due to several factors, notably the return of our founder, Steve Madden, to the company. Steve's creative talents have re-energized the company and the brand and our annual results clearly reflect his ability to inspire the team to consistently deliver fresh and trend-right product to our customers.”
With respect to the outlook for 2006, the company is optimistic about its prospects for the year. The company plans to further improve gross margin by continuing the strategies put in place in 2005, including a sharper focus on inventory management. It expects to open 8-10 retail locations during the year.
"We are optimistic as we move forward and believe we are better positioned than ever before," concluded Karson.
Steven Madden Ltd designs and markets fashion-forward footwear and accessories for women, men and children.
Steven Madden Ltd
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