Us Shoe Company Group Steven Net Profit Increased 7.6% To US $29 Million.

< p > USA < a target= "_blank" href= "//www.sjfzxm.com/" > shoes < /a > group Steven Madden Ltd. as of the two quarter of June 30th, net sales increased 3.1% to 297 million 600 thousand US dollars; same store sales increased 2.5%; gross margin increased 110 basis points to 37.2%; net profit increased 7.6% to 29 million dollars or earnings per share 0.65 U. S. dollars.

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Edward Rosenfeld, chairman and chief executive officer of P Steven Madden Ltd., said that the sales and profit growth in the two quarter was very successful in the difficult retail environment. He also indicated that through strict inventory management, gross profit margins were improved in the two quarter, regardless of wholesale or retail channels, while the increase in gross margin and control of management fees increased the operating profit margin.

In the two quarter, Steven Madden Ltd. operating profit margin reached 15.3%, up 230 basis points from last year, reaching 45 million 600 thousand US dollars.

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In the two quarter, the wholesale sales increased by 1.3% to 251 million 400 thousand US dollars in the P quarter, compared with $248 million 100 thousand to $251.4 in the same period last year. The growth of accessory products partially offset the decline in wholesale sales of footwear products due to the loss of two private customers.

The gross profit margin of wholesale business in the two quarter was 32.1%, an increase of 50 basis points compared with the same period last year, mainly benefiting from the business improvement of the Steve Madden brand women's shoe department.

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P retail sales increased by 13.9% to $46 million 200 thousand in the two quarter, compared with $40 million 600 thousand in the same period last year, mainly benefiting from the opening of 17 new stores. The gross profit margin of retail channels was 64.7%, up 100 basis points.

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In the two quarter, the company added two Steve Madden full stores and a discount store, which made the total number of outlets 113, including 12 discount stores and three online stores. The total number of outlets was 113.

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< p > Steven Madden Ltd. reiterated annual sales growth expectations of 6%-8% and earnings expectations of $2.95 to $3.05 per share in the earnings report.

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