XML 27 R17.htm IDEA: XBRL DOCUMENT v3.23.1
Operating Segment Information
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Operating Segment Information
The Company operates the following operating segments, which are presented as reportable segments: Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to-Consumer, and Licensing. As of January 2023, the Company no longer serves as a buying agent for any of its customers, and as a result no longer reports under the First Cost segment. This change is not considered to have a material or meaningful impact on the Company's operations. Our Wholesale Footwear segment designs, sources, and markets our brands and sells our products to department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers, independent stores, and clubs throughout the United States, Canada, Mexico, and Europe, and through our joint ventures and international distributor network. Our Wholesale Accessories/Apparel segment designs, sources, and markets our brands and sells our products to department stores, mass merchants, off-price retailers, online retailers, specialty retailers, independent stores and clubs throughout the United States, Canada, Mexico, and Europe and through our joint ventures and international distributor network. Our Direct-to-Consumer segment, which was referred to as the Retail segment in previous filings, consists of Steve Madden® and Dolce Vita® full-price retail stores, Steve Madden® outlet stores, and our directly-operated digital e-commerce websites. Our retail stores are located in regional malls and shopping centers, as well as high streets in major cities across the United States, Canada, Mexico, Israel, South Africa, Taiwan, China, and the Middle East. Our Licensing segment is engaged in the licensing of the Steve Madden® and Betsey Johnson® trademarks for use in the sale of select apparel, accessory, and home categories as well as various other non-core products.
Our Corporate activities do not constitute a reportable segment and include costs not directly attributable to the segments that are primarily related to costs associated with corporate executives, corporate finance, corporate social responsibility, legal, human resources, information technology, cyber security, and other shared costs. The Chief Operating Decision Maker does not review asset information by segment; therefore we do not present assets in this note.
As of and for the three months ended,Wholesale FootwearWholesale Accessories/ApparelTotal WholesaleDirect-to-Consumer
First Cost(1)
Licensing
Corporate(2)
Consolidated
March 31, 2023   
Total revenue$282,321 $79,816 $362,137 $99,600 $— $2,097 $— $463,834 
Gross profit107,522 26,514 134,036 58,959 — 2,097 — 195,092 
Income/(loss) from operations$62,056 $9,438 $71,494 $(4,247)$— $1,818 $(22,554)$46,511 
Capital expenditures$137 $60 $197 $1,955 $— $— $1,639 $3,791 
March 31, 2022     
Total revenue$346,715 $102,283 $448,998 $108,346 $837 $1,553 $— $559,734 
Gross profit134,074 23,914 157,988 67,520 837 1,553 — 227,898 
Income/(loss) from operations$94,091 $11,371 $105,462 $12,311 $595 $1,035 $(21,507)$97,896 
Capital expenditures$116 $58 $174 $842 $— $— $2,580 $3,596 

(1) As of January 2023, the Company no longer serves as a buying agent for any of its customers, and as a result no longer reports under the First Cost segment. This change is not considered to have a material or meaningful impact on the Company's operations.
(2) Corporate does not constitute a reportable segment and includes costs not directly attributable to the segments. These costs are primarily related to expenses associated with corporate executives, corporate finance, corporate social responsibility, legal, human resources, information technology, cyber security, and other shared services.
Revenues by geographic area were as follows:
Three Months Ended March 31,
 20232022
Domestic (1)
$378,141 $484,961 
International85,693 74,773 
Total$463,834 $559,734 
(1) Includes revenues of $57,007 and $77,238, respectively, for the three months ended March 31, 2023 and March 31, 2022 related to sales to U.S. customers where the title is transferred outside the U.S. and the sale is recorded by the Company's international entities.