XML 70 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note U - Operating Segment Information
 3 Months Ended
Mar. 31, 2012
Segment Reporting Disclosure [Text Block]

Note U – Operating Segment Information


The Company operates the following business segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing. The Wholesale Footwear segment, through sales to department stores, mid-tier retailers, mass merchants and specialty stores worldwide, derives revenue from sales of branded and private label women’s, men’s, girls’ and children’s footwear. The Wholesale Accessories segment, which includes branded and private label handbags, belts and small leather goods as well as cold weather and selected other fashion accessories, derives revenue from sales to department, mid-tier retailers, mass merchants and specialty stores worldwide. The Retail segment, through the operation of Company owned retail stores and the Company’s website, derives revenue from sales of branded women’s, men’s and children’s footwear, accessories and licensed products to consumers. The First Cost segment represents activities of a subsidiary which earns commissions for serving as a buying/selling agent of footwear products to mass-market merchandisers, mid-tier department stores and other retailers with respect to their purchase of footwear. In the Licensing segment, the Company licenses its Steve Madden® and Steven by Steve Madden® trademarks for use in connection with the manufacture, marketing and sale of sunglasses, eyewear, outerwear, bedding, hosiery and women’s fashion apparel. In addition, this segment licenses the Betsey Johnson® and Betseyville® trademarks for use in connection with the manufacture, marketing and sale of apparel, sleepwear, jewelry, swimwear, eyewear, watches, fragrances, outerwear and luggage.


Quarter ended,     Wholesale Footwear       Wholesale Accessories       Total Wholesale       Retail       First Cost       Licensing       Consolidated  
March 31, 2012:                                                        
Net sales to external customers   $ 191,500     $ 37,443     $ 228,943     $ 37,027                     $ 265,970  
Gross profit     58,728       15,130       73,858       22,235                       96,093  
Commissions and licensing fees – net     —       —       —       —     $ 2,328     $ 2,145       4,473  
Income from operations     23,488       5,267       28,755       2,131       2,328       2,145       35,359  
Segment assets   $ 441,232     $ 127,650       568,882       78,251       50,157       —       697,290  
Capital expenditures                   $ 981     $ 2,289     $ —     $ —     $ 3,270  
                                                         
March 31, 2011:                                                        
Net sales to external customers   $ 108,451     $ 25,808     $ 134,259     $ 31,496                     $ 165,755  
Gross profit     40,750       10,077       50,827       18,305                       69,132  
Commissions and licensing fees – net     —       —       —       —     $ 2,675     $ 1,892       4,567  
Income from operations     18,207       4,626       22,833       55       2,675       1,892       27,455  
Segment assets   $ 284,110     $ 73,348       357,458       62,814       43,761       —       464,033  
Capital expenditures                   $ 2,416     $ 1,286     $ —     $ —     $ 3,702  

Revenues by geographic area for the quarters ended March 31, 2012 and 2011 are as follows:


    Three Months Ended March 31,  
    2012     2011  
Domestic   $ 252,365     $ 156,811  
International     13,605       8,944  
Total   $ 265,970     $ 165,755