Looking back on footwear stocks’ Q4 earnings, we examine this quarter’s best and worst performers, 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 7 footwear stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 2.3% while next quarter’s revenue guidance was 0.5% below.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 24% since the latest 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 $582.3 million, up 12% year on year. This print exceeded analysts’ expectations by 5.7%. Despite the top-line beat, it was still a slower quarter for the company with full-year EPS guidance missing analysts’ expectations significantly and a miss of analysts’ EPS estimates.
Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We are pleased to have delivered earnings results at the high end of our guidance range for the fourth quarter and full year 2024. For the year, revenue grew 15% and Adjusted diluted EPS increased 9% compared to 2023. Our strong performance in 2024 was driven by our team’s disciplined execution of our key strategic initiatives, with robust gains in international markets, non-footwear categories and direct-to-consumer channels, as well as a return to revenue growth in our U.S. wholesale footwear business."
The stock is down 33.5% since reporting and currently trades at $25.20.
Read our full report on Steven Madden here, it’s free.
Best Q4: 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 $12.35 billion, down 7.7% year on year, outperforming analysts’ expectations by 1.8%. The business had an exceptional quarter with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ EPS estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 7.1% since reporting. It currently trades at $71.64.
Is now the time to buy Nike? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: Genesco (NYSE: GCO)
Spanning a broad range of styles, brands, and prices, Genesco (NYSE: GCO) sells footwear, apparel, and accessories through multiple brands and banners.
Genesco reported revenues of $745.9 million, flat year on year, falling short of analysts’ expectations by 5%. It was a softer quarter as it posted adjusted operating income in line with analysts’ estimates.
Genesco delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 36.1% since the results and currently trades at $20.75.
Read our full analysis of Genesco’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 $2.21 billion, up 12.8% year on year. This print met analysts’ expectations. More broadly, it was a softer quarter as it recorded a significant miss of analysts’ EPS estimates.
The stock is down 25.3% since reporting and currently trades at $56.51.
Read our full, actionable report on Skechers here, it’s free.
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 $494.7 million, up 3% year on year. This number topped analysts’ expectations by 5.9%. However, it was a slower quarter as it logged full-year EPS guidance missing analysts’ expectations.
Wolverine Worldwide pulled off the biggest analyst estimates beat but had the weakest full-year guidance update among its peers. The stock is down 30% since reporting and currently trades at $13.10.
Read our full, actionable report on Wolverine Worldwide here, it’s free.
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