SHOO Steven Madden Ltd

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report: November 7, 2024

(Date of earliest event reported)

 

STEVEN MADDEN, LTD.

(Exact name of registrant as specified in its charter)

 

Delaware		000-23702		13-3588231
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

52-16 Barnett Avenue, Long Island City, New York		11104
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (718) 446-1800

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		SHOO		The NASDAQ Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On November 7, 2024, Steven Madden, Ltd. (the “Company”) issued a press release, furnished as Exhibit 99.1 and incorporated into this Item 2.02 by reference, announcing the Company’s financial results for the third quarter of its fiscal year ending December 31, 2024.

 

Item 8.01 Other Events.

 

The Company’s press release on November 7, 2024 also announced that the Company’s Board of Directors has declared a quarterly cash dividend of $0.21 per share on the Company’s outstanding shares of common stock. The dividend is payable on December 27, 2024 to stockholders of record as of the close of business on December 13, 2024.

 

The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished, and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of Section 18. Furthermore, the information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in Item 2.02 of this Current Report is not intended to, and does not, constitute a determination or admission by the Company that the information in Item 2.02 of this Current Report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.		Description
99.1		Press Release, dated November 7, 2024, announcing the Company’s 2024 Third Quarter Results and Declaration of a Cash Dividend.
104		Cover Page Interactive Data File (formatted as Inline XBRL).

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: November 7, 2024

 

	STEVEN MADDEN, LTD.
	By:	/s/ Edward Rosenfeld
	Name:	Edward Rosenfeld
	Title:	Chief Executive Officer

 

 

Exhibit 99.1

 

Steve Madden Announces Third Quarter 2024 Results

 

LONG ISLAND CITY, N.Y., November 7, 2024 – Steven Madden, Ltd. (Nasdaq: SHOO), a leading designer and marketer of fashion-forward footwear, accessories and apparel, today announced financial results for the third quarter ended September 30, 2024.

 

Amounts referred to as “Adjusted” are non-GAAP measures that exclude the items defined as “Non-GAAP Adjustments” in the “Non-GAAP Reconciliation” section.

 

Third Quarter 2024 Results

 

●	Revenue increased 13.0% to $624.7 million, compared to $552.7 million in the same period of 2023.
●	Gross profit as a percentage of revenue was 41.5%, compared to 42.1% in the same period of 2023. Adjusted gross profit as a percentage of revenue was 41.6% in the third quarter of 2024.
●	Operating expenses as a percentage of revenue were 28.6%, compared to 27.1% in the same period of 2023. Adjusted operating expenses as a percentage of revenue were 27.9%, compared to 27.0% in the same period of 2023.
●	Income from operations totaled $74.6 million, or 11.9% of revenue, compared to $82.7 million, or 15.0% of revenue, in the same period of 2023. Adjusted income from operations totaled $85.4 million, or 13.7% of revenue, compared to $83.4 million, or 15.1% of revenue, in the same period of 2023.
●	Net income attributable to Steven Madden, Ltd. was $55.3 million, or $0.77 per diluted share, compared to $64.4 million, or $0.87 per diluted share, in the same period of 2023. Adjusted net income attributable to Steven Madden, Ltd. was $64.8 million, or $0.91 per diluted share, compared to $65.1 million, or $0.88 per diluted share, in the same period of 2023.

 

Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We delivered strong results in the third quarter, with revenue and Adjusted earnings exceeding expectations. This performance was driven by outstanding growth in the accessories and apparel categories – including another quarter of exceptional performance in Steve Madden handbags and a strong contribution from newly acquired Almost Famous – and robust top line gains in international markets and direct-to-consumer channels, demonstrating our team’s strong execution of our key strategic initiatives. Based on these results, we are raising our guidance for 2024 revenue and Adjusted earnings.”

 

Third Quarter 2024 Channel Results

 

Revenue for the wholesale business was $495.7 million, a 14.4% increase compared to the third quarter of 2023. Excluding the newly acquired Almost Famous, wholesale revenue increased 4.8%. Wholesale footwear revenue decreased 2.2%. Wholesale accessories/apparel revenue increased 54.2%, or 21.6% excluding Almost Famous. Gross profit as a percentage of wholesale revenue was 35.5%, compared to 35.9% in the third quarter of 2023, driven by the impact of Almost Famous.

 

Direct-to-consumer revenue was $125.5 million, a 7.8% increase compared to the third quarter of 2023. Gross profit as a percentage of direct-to-consumer revenue increased to 64.0%, compared to 63.7% in the third quarter of 2023, driven by reduced promotional activity.

 

 

The Company ended the quarter with 282 brick-and-mortar retail stores and five e-commerce websites, as well as 67 company-operated concessions in international markets.

 

Balance Sheet and Cash Flow Highlights

 

As of September 30, 2024, cash, cash equivalents and short-term investments totaled $150.5 million. Inventory totaled $268.7 million, compared to $205.7 million at the end of the third quarter of 2023.

 

During the third quarter of 2024, the Company spent $20.2 million on repurchases of its common stock, which includes shares acquired through the net settlement of employees’ stock awards.

 

Quarterly Cash Dividend

 

The Company’s Board of Directors approved a quarterly cash dividend of $0.21 per share. The dividend is payable on December 27, 2024 to stockholders of record as of the close of business on December 13, 2024.

 

Updated 2024 Outlook

 

For fiscal 2024, the Company now expects revenue will increase 13% to 14% compared to 2023. The Company now expects diluted EPS will be in the range of $2.36 to $2.41. The Company now expects Adjusted diluted EPS will be in the range of $2.62 to $2.67.

 

Conference Call Information

 

Interested stockholders are invited to listen to the conference call scheduled for today, November 7, 2024, at 8:30 a.m. Eastern Time, which will include a discussion of the Company’s third quarter 2024 earnings results and 2024 outlook. The call will be webcast live on the Company’s website at https://investor.stevemadden.com. A webcast replay of the conference call will be available on the Company’s website or via the following webcast link https://edge.media-server.com/mmc/p/ktw3zrco beginning today at approximately 10:00 a.m. Eastern Time.

 

About Steve Madden

 

Steve Madden designs, sources and markets fashion-forward footwear, accessories and apparel. In addition to marketing products under its own brands including Steve Madden®, Dolce Vita®, Betsey Johnson®, and Blondo®, Steve Madden licenses footwear, handbags and other accessory categories for the Anne Klein® brand. Steve Madden also designs and sources products under private label brand names for various retailers. Steve Madden’s wholesale distribution includes department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers and independent stores. Steve Madden also directly operates brick-and-mortar retail stores and e-commerce websites. In addition, Steve Madden licenses certain of its brands to third parties for the marketing and sale of certain products in the apparel, accessory and home categories. For local store information and the latest boots, booties, fashion sneakers, dress shoes, sandals, and more, please visit www.stevemadden.com, www.dolcevita.com and our other branded websites.

 

 

Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995

 

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include, among others, statements regarding revenue and earnings guidance, plans, strategies, objectives, expectations and intentions. Forward-looking statements can be identified by words such as: “may”, “will”, “expect”, “believe”, “should”, “anticipate”, “project”, “predict”, “plan”, “intend”, “estimate”, or “confident” and similar expressions or the negative of these expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they represent the Company’s current beliefs, expectations, and assumptions regarding anticipated events and trends affecting its business and industry based on information available as of the time such statements are made. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which may be outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in these forward-looking statements. As such, investors should not rely upon them. Important risk factors include:

 

	●	geopolitical tensions in the regions in which we operate and any related challenging macroeconomic conditions globally that may materially adversely affect our customers, vendors, and partners, and the duration and extent to which these factors may impact our future business and operations, results of operations and financial condition;
	●	the Company’s ability to navigate shifting macro-economic environments, including but not limited to inflation and the potential for recessionary conditions;
	●	the Company’s ability to accurately anticipate fashion trends and promptly respond to consumer demand;
	●	the Company’s ability to compete effectively in a highly competitive market;
	●	the Company’s ability to adapt its business model to rapid changes in the retail industry;
	●	supply chain disruptions to product delivery systems and logistics, and the Company’s ability to properly manage inventory;
	●	the Company’s reliance on independent manufacturers to produce and deliver products in a timely manner, especially when faced with adversities such as work stoppages, transportation delays, public health emergencies, social unrest, changes in local economic conditions, and political upheavals as well as their ability to meet the Company’s quality standards;
	●	the Company’s dependence on the hiring and retention of key personnel;
	●	the Company’s ability to successfully implement growth strategies and integrate acquired businesses;
	●	changes in trade policies and tariffs imposed by the United States government and the governments of other nations in which the Company manufactures and sells products;
	●	the Company’s ability to adequately protect its trademarks and other intellectual property rights;
	●	the Company’s ability to maintain adequate liquidity when negatively impacted by unforeseen events such as an epidemic or a pandemic, which may cause disruption to the Company’s business operations for an indeterminable period of time;
	●	legal, regulatory, political and economic risks that may affect the Company’s sales in international markets;
	●	changes in U.S. and foreign tax laws that could have an adverse effect on the Company’s financial results;
	●	additional tax liabilities resulting from audits by various taxing authorities;
	●	cybersecurity risks and costs of defending against, mitigating, and responding to data security threats and breaches impacting the Company;
	●	the Company’s ability to achieve operating results that are consistent with prior financial guidance; and
	●	other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.

 

The Company does not undertake, and disclaims, any obligation to publicly update any forward-looking statement, including, without limitation, any guidance regarding revenue or earnings, whether as a result of new information, future developments, or otherwise.

 

 

STEVEN MADDEN, LTD. AND SUBSIDIARIES

 

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

 

(In thousands, except per share amounts)

(Unaudited)

 

		Three Months Ended								Nine Months Ended
		September 30, 2024				September 30, 2023				September 30, 2024				September 30, 2023
Net sales		$	621,170			$	549,846			$	1,693,446			$	1,454,420
Licensing fee income			3,505				2,886				7,163				7,448
Total revenue			624,675				552,732				1,700,609				1,461,868
Cost of sales			365,131				320,107				999,121				844,281
Gross profit			259,544				232,625				701,488				617,587
Operating expenses			178,915				149,887				507,343				444,298
Change in valuation of contingent payment liability			(2,584	)			—				5,616				—
Impairment of intangibles			8,635				—				10,335				—
Income from operations			74,578				82,738				178,194				173,289
Interest and other income, net			1,400				1,922				4,309				5,898
Income before provision for income taxes			75,978				84,660				182,503				179,187
Provision for income taxes			19,390				19,552				44,404				42,219
Net income			56,588				65,108				138,099				136,968
Less: net income attributable to noncontrolling interest			1,310				695				3,510				1,295
Net income attributable to Steven Madden, Ltd.		$	55,278			$	64,413			$	134,589			$	135,673
Basic income per share		$	0.78			$	0.88			$	1.88			$	1.84
Diluted income per share		$	0.77			$	0.87			$	1.87			$	1.81
Basic weighted average common shares outstanding			70,806				72,943				71,516				73,679
Diluted weighted average common shares outstanding			71,569				74,071				72,135				74,917
Cash dividends declared per common share		$	0.21			$	0.21			$	0.63			$	0.63

 

 

STEVEN MADDEN, LTD. AND SUBSIDIARIES

 

CONDENSED CONSOLIDATED BALANCE SHEETS

 

(In thousands)

 

		As of
		September 30, 2024				December 31, 2023				September 30, 2023
		(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			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
STOCKHOLDERS’ EQUITY
Total Steven Madden, Ltd. stockholders’ equity			833,923				829,598				837,038
Noncontrolling interest			26,143				18,434				16,676
Total stockholders’ equity			860,066				848,032				853,714
Total Liabilities and Stockholders’ Equity		$	1,457,128			$	1,347,943			$	1,292,227

 

 

STEVEN MADDEN, LTD. AND SUBSIDIARIES

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

(In thousands)

(Unaudited)

 

		Nine Months Ended
		September 30, 2024				September 30, 2023
Cash flows from operating activities:
Net income		$	138,099			$	136,968
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation			19,531				18,169
Depreciation and amortization			14,736				11,138
Loss on disposal of fixed assets			112				204
Impairment of intangibles			10,335				—
Loss on divestiture of business			3,199				—
Impairment of lease right-of-use asset			—				95
Accrued interest on note receivable - related party			—				(6	)
Notes receivable - related party			—				307
Change in valuation of contingent payment liability			5,616				—
Other operating activities			(48	)			417
Changes, net of acquisitions, in:
Accounts receivable			(15,794	)			(20,601	)
Factor accounts receivable			(108,276	)			(93,274	)
Inventories			(39,064	)			23,541
Prepaid expenses, income tax receivables, prepaid taxes, and other assets			(864	)			(264	)
Accounts payable and accrued expenses			66,853				4,991
Accrued incentive compensation			1,382				(1,598	)
Leases and other liabilities			(1,572	)			(2,331	)
Net cash provided by operating activities			94,245				77,756
Cash flows from investing activities:
Capital expenditures			(16,642	)			(13,899	)
Purchases of short-term investments			(12,840	)			(15,979	)
Maturity/sale of short-term investments			16,654				16,335
Acquisition of business			(4,259	)			—
Other investing activities			372				—
Net cash used in investing activities			(16,715	)			(13,543	)
Cash flows from financing activities:
Common stock repurchased and net settlements of stock awards			(95,788	)			(104,215	)
Proceeds from exercise of stock options			1,086				1,171
Investment of noncontrolling interest			—				4,582
Cash dividends paid on common stock			(45,880	)			(47,594	)
Distribution of noncontrolling interest			—				(1,102	)
Net cash used in financing activities			(140,582	)			(147,158	)
Effect of exchange rate changes on cash and cash equivalents			(2,174	)			36
Net decrease in cash and cash equivalents			(65,226	)			(82,909	)
Cash and cash equivalents – beginning of period			204,640				274,713
Cash and cash equivalents – end of period		$	139,414			$	191,804

 

 

STEVEN MADDEN, LTD. AND SUBSIDIARIES

 

NON-GAAP RECONCILIATION

 

(In thousands, except per share amounts)

 

(Unaudited)

 

The Company uses non-GAAP financial information to evaluate its operating performance and in order to represent the manner in which the Company conducts and views its business. Additionally, the Company believes the information assists investors in comparing the Company’s performance across reporting periods on a consistent basis by excluding items that are not indicative of its core business. The non-GAAP financial information is provided in addition to, and not as an alternative to, the Company’s reported results prepared in accordance with GAAP.

 

Table 1 - Reconciliation of GAAP gross profit to Adjusted gross profit

 

		Three Months Ended								Nine Months Ended
		September 30, 2024				September 30, 2023				September 30, 2024				September 30, 2023
GAAP gross profit		$	259,544			$	232,625			$	701,488			$	617,587
Non-GAAP Adjustments			59				—				393				—
Adjusted gross profit		$	259,603			$	232,625			$	701,881			$	617,587

 

Table 2 - Reconciliation of GAAP operating expenses to Adjusted operating expenses

 

		Three Months Ended								Nine Months Ended
		September 30, 2024				September 30, 2023				September 30, 2024				September 30, 2023
GAAP operating expenses		$	178,915			$	149,887			$	507,343			$	444,298
Non-GAAP Adjustments			(4,680	)			(622	)			(6,301	)			(2,298	)
Adjusted operating expenses		$	174,235			$	149,265			$	501,042			$	442,000

 

Table 3 - Reconciliation of GAAP income from operations to Adjusted income from operations

 

		Three Months Ended								Nine Months Ended
		September 30, 2024				September 30, 2023				September 30, 2024				September 30, 2023
GAAP income from operations		$	74,578			$	82,738			$	178,194			$	173,289
Non-GAAP Adjustments			10,790				622				22,645				2,298
Adjusted income from operations		$	85,368			$	83,360			$	200,839			$	175,587

 

Table 4 - Reconciliation of GAAP provision for income taxes to Adjusted provision for income taxes

 

		Three Months Ended								Nine Months Ended
		September 30, 2024				September 30, 2023				September 30, 2024				September 30, 2023
GAAP provision for income taxes		$	19,390			$	19,552			$	44,404			$	42,219
Non-GAAP Adjustments			1,238				(85	)			4,032				309
Adjusted provision for income taxes		$	20,628			$	19,467			$	48,436			$	42,528

 

Table 5 - Reconciliation of GAAP net income attributable to noncontrolling interest to Adjusted net income attributable to noncontrolling interest

 

		Three Months Ended								Nine Months Ended
		September 30, 2024				September 30, 2023				September 30, 2024				September 30, 2023
GAAP net income attributable to noncontrolling interest		$	1,310			$	695			$	3,510			$	1,295
Non-GAAP Adjustments			25				—				155				—
Adjusted net income attributable to noncontrolling interest		$	1,335			$	695			$	3,665			$	1,295

 

 

Table 6 - Reconciliation of GAAP net income attributable to Steven Madden, Ltd. to Adjusted net income attributable to Steven Madden, Ltd.

 

		Three Months Ended								Nine Months Ended
		September 30, 2024				September 30, 2023				September 30, 2024				September 30, 2023
GAAP net income attributable to Steven Madden, Ltd.		$	55,278			$	64,413			$	134,589			$	135,673
Non-GAAP Adjustments			9,527				707				18,459				1,989
Adjusted net income attributable to Steven Madden, Ltd.		$	64,805			$	65,120			$	153,048			$	137,662
GAAP diluted net income per share		$	0.77			$	0.87			$	1.87			$	1.81
Adjusted diluted net income per share		$	0.91			$	0.88			$	2.12			$	1.84

 

Table 7 - Reconciliation of GAAP diluted net income per share to Adjusted diluted net income per share in 2024 outlook

 

		Updated 2024 Outlook
		Low End				High End
GAAP diluted net income per share		$	2.36			$	2.41
Non-GAAP Adjustments			0.26				0.26
Adjusted diluted net income per share		$	2.62			$	2.67

 

Non-GAAP Adjustments include the items below.

 

For the third quarter of 2024:

 

●	$3.2 million pre-tax ($3.7 million after-tax) expense in connection with a divestiture of a business, included in operating expenses.
●	$1.5 million pre-tax ($1.1 million after-tax) expense in connection with an acquisition and formation of joint ventures, included in operating expenses.
●	$8.6 million pre-tax ($6.6 million after-tax) expense in connection with a trademark impairment.
●	$2.6 million pre-tax ($2.0 million after-tax) benefit in connection with the change in valuation of a contingent consideration in connection with the acquisition of Almost Famous.

 

For the third quarter of 2023:

 

●	$2.7 million pre-tax ($2.3 million after-tax) expense in connection with the write-off of an investment in a subsidiary in Asia, included in operating expenses.
●	$2.2 million pre-tax ($1.6 million after-tax) benefit in connection with the dissolution of an entity in Asia, included in operating expenses.

 

Contact

 

Steven Madden, Ltd.

VP of Corporate Development & Investor Relations

Danielle McCoy

718-308-2611

InvestorRelations@stevemadden.com

 

 

v3.24.3

Cover	Nov. 07, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 07, 2024
Entity File Number	000-23702
Entity Registrant Name	STEVEN MADDEN, LTD.
Entity Central Index Key	0000913241
Entity Tax Identification Number	13-3588231
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	52-16 Barnett Avenue
Entity Address, City or Town	Long Island City
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11104
City Area Code	(718)
Local Phone Number	446-1800
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	SHOO
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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