What drove SHOO's earnings beat in Q3 2024?

Steven Madden's (SHOO) Q3 2024 earnings beat expectations due to several key factors: 1. **Revenue Surge from Accessories and Apparel**: The company's revenue grew significantly, driven by a 54.2% increase in wholesale accessories and apparel revenue. This growth was fueled by the successful integration of the Almost Famous brand and the expansion of categories beyond footwear, such as handbags and apparel. 2. **International Market Expansion**: Steven Madden's focus on international market expansion contributed to the revenue growth. The EMEA region, in particular, remained a significant growth driver, with strong momentum in the Middle East joint venture and rapid growth in the South Africa joint venture. 3. **Direct-to-Consumer (DTC) Business Growth**: The DTC channel saw an increase in revenues, which is likely to have contributed to the overall revenue growth. This channel is a strategic focus for Steven Madden, and the company has been successful in growing its presence through digital capabilities. 4. **Wholesale Business Performance**: Despite a decline in wholesale footwear revenue, the overall wholesale business demonstrated strong performance, with revenues increasing 22.5% year-over-year to $385.3 million in Q2. This growth was driven by outstanding growth in accessories and apparel, which surged by 86%. In summary, Steven Madden's Q3 2024 earnings beat was driven by strong revenue growth from accessories and apparel, international market expansion, the success of its DTC business, and the performance of its wholesale business.