5.5 % turnover increase for Steve Madden | RetailDetail

5.5 % turnover increase for Steve Madden

5.5 % turnover increase for Steve Madden

American shoe chain Steve Madden's third quarter turnover reached 413.5 million dollars (397.4 million euro), up 5.5 % compared to 2014's third quarter.

Own stores perform well

Particularly sales in its own stores were decent: turnover grew from 48.7 million dollars (44.5 million euro) to 56.4 million dollars (51.5 million euro). On a like-for-like store basis, turnover even skyrocketed 11.2 % to its third straight quarter with double-digit growth. Its gross margin also grew from 58.9 to 60.4 %, even though that was partly because it had fewer advertising campaigns.

 

Its wholesale turnover also grew from 343.3 million dollars (313.6 million euro) to 357 million dollars (326 million euro), while gross margins grew from 31.3 % to 32.1 %. All those factors combined resulted in a 9.3 % net profit increase to 42.9 million dollars (39.2 million euro).

 

Slower private label orders

Madden predicts its full-year results to grow 6 to 7 %, based on lower than expected pre-orders for its private label shoes from several chains.

 

By the end of September, Madden had 165 stores of its own, with 120 classic brick&mortar stores, 37 outlets, 4 internet web shops and 4 South African joint-ventures.

Questions or comments? Please feel free to contact the editors


Carrefour Belgium launches personal shoppers with 90 minutes delivery

19/07/2018

In the intense struggle for the customers' favour, Carrefour Belgium has presented a new service - featuring personal shoppers, delivery within 90 minutes and an app that can be expanded into a market place.

Cultured meat in stores by 2021?

18/07/2018

Commercialization of laboratory cultured meat is coming closer. Pioneer Mosa Meat has raised 7.5 million euros for the construction of a factory that will bring an affordable product to the market within three years.

Discounters' major opportunities for growth in Western Europe

16/07/2018

Despite the multitude of stores in most European markets, discounters plan to open up to ten million square metres of store surface in five years' time. Even in so-called saturated markets they still see a lot of chances for growth, LZ Retailytics says.

Contamination bites huge chunks of Greenyard's value

16/07/2018

Vegetable producer Greenyard is under attack after a listeria contamination in its Hungarian factory. The company says to have taken all necessary measures, but the share price plummets.

Starbucks dumps plastic straws worldwide

12/07/2018

American coffee company Starbucks will ban plastic straws in their stores starting from 2020. A small step for coffee enthusiasts, but a big step for the environment, as the coffee giant uses about a billion straws every year.

AB InBev joins forces with Efes in Russia

12/07/2018

In order to counter the decline of their success on the Russian market, Belgian beer giant AB InBev has placed its activities in Russia in a joint venture with Turkish Anadolu Efes.