Apparel Online Bangladesh Magazine April Issue 2019 | Page 69

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Steve Madden witnesses a surge of 13 per cent in
Q4 net sales
Steve Madden has witnessed an
increase of nearly 13 per cent in
its net sales for the fourth quarter,
touching US $ 410.4 million.
The gross margin for Q4 was
37.1 per cent compared to 38.4
per cent in the previous year with
the adjusted gross margin being
38.1 per cent.
He also added that despite the
insolvency of Payless ShoeSource,
the company is confident that its
diversified business model positions
them for long-term growth and value
creation going forward.
The wholesale business too saw a
rise of 14.1 per cent in net sales to
touch US $ 317.4 million, mainly
owing to strong growth in wholesale
footwear and wholesale accessories.
The gross margin in the wholesale
business slumped to 30.1 per cent
compared to 31 per cent in Q4 of last
year. Steve Madden also recorded
good performance in e-commerce
and saw same-store-sales increase
of 4 per cent in Q4, while the retail
net sales increased by 7.9 per cent
to reach US $ 93 million.
The company expects that fiscal
year 2019 will see net sales increase
by 4 to 6 per cent over net sales
achieved in 2018.
The net income attributable to Steve
Madden Ltd. was US $ 12.5 million
compared to US $ 24.6 million for
the Q4 of previous year.
The adjusted net income was US
$ 35.7 million compared to US $ 27.5
million for the Q4 of previous year.
“We are pleased to have delivered a
strong Q4, with net sales increasing
by 13 per cent and adjusted diluted
EPS rising by 31 per cent compared
to what it was during the same
period last year,” said Edward
Rosenfeld, Chairman and CEO,
Steve Madden.
Forever 21 launches ‘Jenner collection', curated
by Kendall and Kylie, in India
India’s most preferred
international fast-fashion brand,
Forever 21 is launching an
exclusive collection curated by the
fashion moguls – Kendall Jenner
and Kylie Jenner.
The Kendall and Kylie collection
is everything from streetwear chic
to ramp-drama ready. Inspired by
the distinct and celebrated fashion
tastes of the duo, the collection
consists of an array of apparels
which promise to live up to its
expectations.
Available in exaggerated cuts and
lengths, the apparels from this
segment offer shoppers infinite
opportunities to experiment
with their ensemble and give it a
personal touch.
The collection comprises A-lined
bell sleeved dresses known for
their drama, denim jackets with
patches of fuzzy fleece, fitted
bodysuits and much more.
The Kendall and Kylie collection
takes LBDs to the next level with
embellishments, glitter and much
more. With apparels that redefine
the hybrid between the classic
avant-garde era and modern
fashion, one can definitely count on
standing out in any crowd with the
recent Forever 21 collection.
www.apparelresources.com | APRIL 2019 | Apparel Online Bangladesh
69