Retail sales played a significant role in driving growth for Steve Madden, Ltd., a New York-based company that specializes in footwear and accessories. The company reported increases in both fourth-quarter and full-year sales and earnings, despite the challenges faced by the retail industry.

In the fourth quarter of 2019, Steve Madden, Ltd. generated revenue of $419.6 million, a slight increase from the $416.8 million reported in the previous year. While wholesale revenues experienced a decline of 1.1% due to decreased sales of certain products, retail sales saw a significant growth of 8.7%. This growth was primarily driven by the company’s e-commerce channel, which saw a 6.7% increase in same-store sales.

For the full fiscal year of 2019, Steve Madden, Ltd. achieved a net income of $141.3 million, surpassing the $129.1 million from the previous fiscal year. Annual revenues also saw a positive growth of 6.5%, reaching $1.8 billion.

Despite facing challenges such as the bankruptcy of Payless ShoeSource and the impact of tariffs on Chinese imports, Steve Madden, Ltd. remained resilient and demonstrated overall growth. Edward Rosenfeld, the chairman and CEO of the company, expressed confidence in its ability to continue driving earnings growth and delivering value to shareholders.

Looking ahead to fiscal 2020, Steve Madden, Ltd. expects its revenue to either remain flat or increase by up to 1%. Diluted earnings per share are projected to range between $1.70 and $1.80. However, the forecast does take into account a negative impact of approximately $0.35 per share due to various factors, including the effects of the coronavirus outbreak, tariffs on Chinese goods, the termination of the Kate Spade footwear license, and a higher anticipated tax rate.

As of the end of fiscal 2019, Steve Madden, Ltd. operated 227 retail locations, which included eight Internet stores. The company also had 31 concessions in international markets.

To learn more about Steve Madden, Ltd. and its growth in the retail industry, you can visit their official website here. Additionally, if you are interested in the latest trends in the retail industry, you can refer to this informative article here.