Steven Madden, Ltd. Files Q2 2024 10-Q

TL;DR

SHOO Q2 10-Q is in. Check financials.

AI Summary

Steven Madden, Ltd. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year. Key financial data and disclosures related to its operations and financial position are detailed in this filing.

Why It Matters

This filing provides investors with the latest financial performance and condition of Steven Madden, Ltd., crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024 Q2 — Reporting Period (Second quarter financial results)
• 2024-06-30 — Fiscal Period End (End of the reporting quarter)
• 1231 — Fiscal Year End (Company's annual fiscal year end)

Key Players & Entities

• STEVEN MADDEN, LTD. (company) — Filer
• 20240630 (date) — Period of Report
• 20240801 (date) — Filed as of Date
• 7184461800 (phone_number) — Business Phone

FAQ

Filing Documents

• shoo-20240630.htm (10-Q) — 1652KB
• shoo-ex311x20240630.htm (EX-31.1) — 10KB
• shoo-ex312x20240630.htm (EX-31.2) — 10KB
• shoo-ex321x20240630.htm (EX-32.1) — 4KB
• shoo-ex322x20240630.htm (EX-32.2) — 4KB
• 0001628280-24-034229.txt ( ) — 7769KB
• shoo-20240630.xsd (EX-101.SCH) — 51KB
• shoo-20240630_cal.xml (EX-101.CAL) — 79KB
• shoo-20240630_def.xml (EX-101.DEF) — 347KB
• shoo-20240630_lab.xml (EX-101.LAB) — 658KB
• shoo-20240630_pre.xml (EX-101.PRE) — 544KB
• shoo-20240630_htm.xml (XML) — 837KB

– 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 in Stockholder' Equity 4 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements - Unaudited 7 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 26 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 ITEM 4.

Controls and Procedures

Controls and Procedures 38

– OTHER INFORMATION

PART II – OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 39 ITEM 1A.

Risk Factors

Risk Factors 39 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 ITEM 5 . Other Information 40 ITEM 6. Exhibits 41

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements STEVEN MADDEN, LTD. AND SUBSIDIARIES Condensed Consolidated Balance Sheets June 30, 2024 December 31, 2023 June 30, 2023 (in thousands, except par value) (unaudited) (unaudited) ASSETS Current assets: Cash and cash equivalents $ 180,457 $ 204,640 $ 258,056 Short-term investments 11,761 15,173 16,358 Accounts receivable, net of allowances of $ 3,204 , $ 4,828 and $ 6,057 36,624 40,246 41,332 Factor accounts receivable 341,967 320,723 256,627 Inventories 241,643 228,990 207,839 Prepaid expenses and other current assets 28,448 29,009 24,282 Income tax receivable and prepaid income taxes 19,208 16,051 23,405 Total current assets 860,108 854,832 827,899 Note receivable – related party — — 201 Property and equipment, net 49,056 47,199 42,267 Operating lease right-of-use asset 143,480 122,783 116,871 Deposits and other 15,553 16,250 10,858 Deferred tax assets 609 609 2,135 Goodwill 183,374 180,003 168,967 Intangibles, net 122,884 126,267 101,047 Total Assets $ 1,375,064 $ 1,347,943 $ 1,270,245 LIABILITIES Current liabilities: Accounts payable $ 189,772 $ 161,140 $ 130,417 Accrued expenses 143,127 154,751 134,469 Operating leases – current portion 44,961 40,342 36,593 Income taxes payable 7,204 5,998 7,773 Contingent payment liability – current portion 11,957 3,325 1,153 Accrued incentive compensation 8,909 12,068 7,237 Total current liabilities 405,930 377,624 317,642 Contingent payment liability – long-term portion 9,543 9,975 — Operating leases – long-term portion 112,988 98,536 96,277 Deferred tax liabilities 9,078 8,606 3,923 Other liabilities 5,169 5,170 10,686 Total Liabilities 542,708 499,911 428,528 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, 245,000

View Full Filing

View this 10-Q filing on SEC EDGAR