Steven Madden, Ltd. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Steven Madden, Ltd. has filed its Q1 2024 10-Q report, detailing financial performance and operational information.</b>

AI Summary

STEVEN MADDEN, LTD. (SHOO) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Steven Madden, Ltd. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at 52-16 Barnett Ave, Long Island City, NY. Steven Madden, Ltd. is incorporated in Delaware. The company's fiscal year ends on December 31st.

Why It Matters

For investors and stakeholders tracking STEVEN MADDEN, LTD., this filing contains several important signals. This filing provides investors with the latest financial data and operational updates for Steven Madden, Ltd. for the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: low — STEVEN MADDEN, LTD. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance drivers and outlook.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-02 — Filing Date (FILED AS OF DATE)
• 2024 — Fiscal Year (2024 Q1)
• 1231 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• STEVEN MADDEN, LTD. (company) — FILER
• SHOO (company) — ticker symbol
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-02 (date) — FILED AS OF DATE
• 52-16 BARNETT AVE (address) — BUSINESS ADDRESS
• LONG ISLAND CITY (location) — BUSINESS ADDRESS CITY
• DE (location) — STATE OF INCORPORATION
• 1231 (date) — FISCAL YEAR END

FAQ

Industry Context

Steven Madden, Ltd. operates within the footwear industry, designing, marketing, and sourcing fashion-forward footwear and accessories.

Regulatory Implications

As a publicly traded company, Steven Madden, Ltd. is subject to SEC regulations and reporting requirements, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the revenue and net income figures for Q1 2024 compared to prior periods.
2. Examine any disclosed changes in debt levels or equity structure.
3. Review management's discussion and analysis for insights into business performance and outlook.

Year-Over-Year Comparison

This filing represents the standard quarterly report for the period ending March 31, 2024, following previous filings for the company.

Filing Documents

• shoo-20240331.htm (10-Q) — 1241KB
• shoo-20240331xex101.htm (EX-10.1) — 42KB
• shoo-20240331xex102.htm (EX-10.2) — 41KB
• shoo-ex311x20240331.htm (EX-31.1) — 10KB
• shoo-ex312x20240331.htm (EX-31.2) — 10KB
• shoo-ex321x20240331.htm (EX-32.1) — 4KB
• shoo-ex322x20240331.htm (EX-32.2) — 4KB
• 0001628280-24-019938.txt (&nbsp;) — 7794KB
• shoo-20240331.xsd (EX-101.SCH) — 49KB
• shoo-20240331_cal.xml (EX-101.CAL) — 74KB
• shoo-20240331_def.xml (EX-101.DEF) — 335KB
• shoo-20240331_lab.xml (EX-101.LAB) — 661KB
• shoo-20240331_pre.xml (EX-101.PRE) — 532KB
• shoo-20240331_htm.xml (XML) — 1033KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION ITEM 1. Condensed Consolidated Financial Statements (Unaudited): Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Income 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Statements of Changes i n Stockholder' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements - Unaudited 6 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 ITEM 4.

Controls and Procedures

Controls and Procedures 32

– OTHER INFORMATION

PART II – OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 33 ITEM 1A.

Risk Factors

Risk Factors 33 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 ITEM 5 . Other Information 34 ITEM 6. Exhibits 35

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements STEVEN MADDEN, LTD. AND SUBSIDIARIES Condensed Consolidated Balance Sheets March 31, 2024 December 31, 2023 March 31, 2023 (in thousands, except par value) (unaudited) (unaudited) ASSETS Current assets: Cash and cash equivalents $ 131,501 $ 204,640 $ 209,979 Short-term investments 11,556 15,173 13,740 Accounts receivable, net of allowances of $ 4,874 , $ 4,828 and $ 7,208 44,457 40,246 46,138 Factor accounts receivable 380,613 320,723 283,893 Inventories 201,960 228,990 179,937 Prepaid expenses and other current assets 28,324 29,009 22,267 Income tax receivable and prepaid income taxes 8,883 16,051 12,079 Total current assets 807,294 854,832 768,033 Note receivable – related party — — 301 Property and equipment, net 47,490 47,199 41,519 Operating lease right-of-use asset 127,464 122,783 112,501 Deposits and other 15,991 16,250 11,750 Deferred tax assets 609 609 1,963 Goodwill 180,869 180,003 168,228 Intangibles, net 124,436 126,267 100,826 Total Assets $ 1,304,153 $ 1,347,943 $ 1,205,121 LIABILITIES Current liabilities: Accounts payable $ 170,154 $ 161,140 $ 101,678 Accrued expenses 109,173 154,751 112,395 Operating leases – current portion 40,020 40,342 33,977 Income taxes payable 4,474 5,998 3,934 Contingent payment liability – current portion 3,738 3,325 1,153 Accrued incentive compensation 4,953 12,068 4,105 Total current liabilities 332,512 377,624 257,242 Contingent payment liability – long-term portion 11,212 9,975 — Operating leases – long-term portion 102,637 98,536 95,797 Deferred tax liabilities 9,016 8,606 3,923 Other liabilities 5,169 5,170 10,461 Total Liabilities 460,546 499,911 367,423 Commitments, contingencies and other (Note M) STOCKHOLDERS' EQUITY Preferred stock – $ 0.0001 par value, 5,000 shares authorized; none issued; Series A Junior Participating preferred stock – $ 0.0001 par value, 60 shares authorized; none issued — — — Common stock – $ 0.0001 par value, 245,00

View Full Filing

View this 10-Q filing on SEC EDGAR