Steven Madden, Ltd. Files Q3 2024 10-Q

TL;DR

SHOO Q3 2024 10-Q is in. Check financials.

AI Summary

Steven Madden, Ltd. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024, detailing financial performance and operational updates. Key financial data and disclosures relevant to investors are presented in this report.

Why It Matters

This filing provides investors with the latest financial performance data for Steven Madden, Ltd., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.

Key Numbers

• 2024 Q3 — Reporting Period (Covers the third quarter of 2024.)
• 12/31 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)
• 0000913241 — Central Index Key (Unique identifier for the filer.)

Key Players & Entities

• STEVEN MADDEN, LTD. (company) — Filer
• 20240930 (date) — Period of Report
• 20241108 (date) — Filed as of Date
• 7184461800 (phone_number) — Business Phone

FAQ

Filing Documents

• shoo-20240930.htm (10-Q) — 1772KB
• shoo-ex311x20240930.htm (EX-31.1) — 10KB
• shoo-ex312x20240930.htm (EX-31.2) — 10KB
• shoo-ex321x20240930.htm (EX-32.1) — 4KB
• shoo-ex322x20240930.htm (EX-32.2) — 4KB
• 0001628280-24-046673.txt ( ) — 9062KB
• shoo-20240930.xsd (EX-101.SCH) — 52KB
• shoo-20240930_cal.xml (EX-101.CAL) — 84KB
• shoo-20240930_def.xml (EX-101.DEF) — 375KB
• shoo-20240930_lab.xml (EX-101.LAB) — 707KB
• shoo-20240930_pre.xml (EX-101.PRE) — 590KB
• shoo-20240930_htm.xml (XML) — 1227KB

– 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 27 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 ITEM 4.

Controls and Procedures

Controls and Procedures 40

– OTHER INFORMATION

PART II – OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 41 ITEM 1A.

Risk Factors

Risk Factors 41 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 ITEM 5 . Other Information 41 ITEM 6. Exhibits 42

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements STEVEN MADDEN, LTD. AND SUBSIDIARIES Condensed Consolidated Balance Sheets September 30, 2024 December 31, 2023 September 30, 2023 (in thousands, except par value) (unaudited) (unaudited) ASSETS Current assets: Cash and cash equivalents $ 139,414 $ 204,640 $ 191,804 Short-term investments 11,064 15,173 14,641 Accounts receivable, net of allowances of $ 4,068 , $ 4,828 and $ 4,513 56,297 40,246 58,538 Factor accounts receivable 426,408 320,723 342,871 Inventories 268,669 228,990 205,693 Prepaid expenses and other current assets 28,041 29,009 24,334 Income tax receivable and prepaid income taxes 14,950 16,051 15,702 Total current assets 944,843 854,832 853,583 Note receivable – related party — — 100 Property and equipment, net 52,906 47,199 44,920 Operating lease right-of-use asset 148,391 122,783 113,058 Deposits and other 20,166 16,250 10,567 Deferred tax assets 609 609 1,570 Goodwill 181,905 180,003 168,612 Intangibles, net 108,308 126,267 99,817 Total Assets $ 1,457,128 $ 1,347,943 $ 1,292,227 LIABILITIES Current liabilities: Accounts payable $ 225,586 $ 161,140 $ 140,623 Accrued expenses 150,067 154,751 129,754 Operating leases – current portion 43,812 40,342 36,521 Income taxes payable 12,435 5,998 13,519 Contingent payment liability – current portion 7,716 3,325 1,153 Accrued incentive compensation 13,347 12,068 10,190 Total current liabilities 452,963 377,624 331,760 Contingent payment liability – long-term portion 11,200 9,975 — Operating leases – long-term portion 118,674 98,536 91,916 Deferred tax liabilities 8,777 8,606 3,923 Other liabilities 5,448 5,170 10,914 Total Liabilities 597,062 499,911 438,513 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 v

View Full Filing

View this 10-Q filing on SEC EDGAR