- Net sales increased 9.2% to $304.6 million compared to $278.9 million in the same period of 2013.
- Gross margin was 35.6% as compared to 36.8% in the same period last year due primarily to increased promotional activity in the retail segment.
- Operating expenses as a percentage of sales were 24.8% compared to 25.3% of sales in the same period of 2013 due to operating expense leverage on growing sales in the wholesale segment.
- Operating income totaled $36.0 million, or 11.8% of net sales, compared with operating income of $36.4 million, or 13.1% of net sales, in the same period of 2013.
- Net income increased to $23.6 million, or $0.36 per diluted share, compared to $23.4 million, or $0.35 per diluted share in the prior year's first quarter, adjusted for the three-for-two stock split effective October 2, 2013.
Steve Madden Announces First Quarter 2014 Results
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