Footwear Stocks Q4 Highlights: Steven Madden (NASDAQ:SHOO)

Wrapping up Q4 earnings, we look at the numbers and key takeaways for the footwear stocks, including Steven Madden (NASDAQ:SHOO) and its peers.

Before the advent of the internet, styles changed, but consumers mainly bought shoes by visiting local brick-and-mortar shoe, department, and specialty stores. Today, not only do styles change more frequently as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some footwear companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 8 footwear stocks we track reported a slower Q4; on average, revenues beat analyst consensus estimates by 1.5%. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, and while some of the footwear stocks have fared somewhat better than others, they collectively declined, with share prices falling 4.3% on average since the previous earnings results.

Steven Madden (NASDAQ:SHOO)

As seen in the infamous Wolf of Wall Street movie, Steven Madden (NASDAQ:SHOO) is a fashion brand famous for its trendy and innovative footwear, appealing to a young and style-conscious audience.

Steven Madden reported revenues of $519.7 million, up 10.4% year on year, topping analyst expectations by 1.2%. It was a weak quarter for the company, with revenue narrowly topping analysts' expectations. On the other hand, its EPS missed and its operating margin fell short of Wall Street's estimates. EPS guidance for the full year also fell short of Wall Street estimates.

Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We are pleased to have delivered fourth quarter results that exceeded expectations on both the top and bottom lines. We saw organic revenue growth in both the wholesale and direct-to-consumer channels, supplemented by the contribution from the newly acquired Almost Famous, and also drove strong improvement in Adjusted operating margin compared to the same period in the prior year.

The stock is down 11.2% since the results and currently trades at $38.75.

Read our full report on Steven Madden here, it's free.

Best Q4: Deckers (NYSE:DECK)

Established in 1973, Deckers (NYSE:DECK) is a footwear and apparel conglomerate with a portfolio of lifestyle and performance brands.

Deckers reported revenues of $1.56 billion, up 16% year on year, outperforming analyst expectations by 7.3%. It was an exceptional quarter for the company, with an impressive beat of analysts' constant currency revenue estimates.

Deckers achieved the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The stock is up 5.6% since the results and currently trades at $814.37.

Is now the time to buy Deckers? Access our full analysis of the earnings results here, it's free.

Slowest Q4: Wolverine Worldwide (NYSE:WWW)

Founded in 1883, Wolverine Worldwide (NYSE:WWW) is a global footwear company with a diverse portfolio of brands including Merrell, Hush Puppies, and Saucony.

Wolverine Worldwide reported revenues of $521.2 million, down 17.9% year on year, in line with analyst expectations. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations.

Wolverine Worldwide had the slowest revenue growth and weakest full-year guidance update in the group. The stock is down 0.3% since the results and currently trades at $9.12.

Read our full analysis of Wolverine Worldwide's results here.

Skechers (NYSE:SKX)

Synonymous with "dad shoe", Skechers (NYSE:SKX) is a footwear company renowned for its comfortable, stylish, and affordable shoes for all ages.

Skechers reported revenues of $1.96 billion, up 4.4% year on year, falling short of analyst expectations by 3.7%. It was a weak quarter for the company, with a miss of analysts' constant currency revenue estimates and a miss of analysts' revenue estimates. On the other hand, EPS slightly topped expectations during the quarter.

Skechers had the weakest performance against analyst estimates among its peers. The stock is down 11.7% since the results and currently trades at $56.17.

Read our full, actionable report on Skechers here, it's free.

Nike (NYSE:NKE)

Originally selling Japanese Onitsuka Tiger sneakers as Blue Ribbon Sports, Nike (NYSE:NKE) is a global titan in athletic footwear, apparel, equipment, and accessories.

Nike reported revenues of $12.43 billion, flat year on year, surpassing analyst expectations by 1.1%. It was a strong quarter for the company, with an impressive beat of analysts' earnings estimates. Its revenue narrowly outperformed Wall Street's estimates, driven by strong sales of its Nike-branded goods (this excludes Converse, whose revenue dropped 20% on a constant currency basis).

The stock is down 8.4% since the results and currently trades at $92.36.

Read our full, actionable report on Nike here, it's free.

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