Steven Madden, Ltd. (NASDAQ:SHOO) Q1 2023 Earnings Call May 9, 2023 8:30 AM ET
Company Participants
Danielle McCoy - Vice President of Corporate Development and Investor Relations
Edward Rosenfeld - Chairman and Chief Executive Officer
Zine Mazouzi - Chief Financial Officer
Conference Call Participants
Aubrey Tianello - BNP Paribas
Jay Sole - UBS
Tom Nikic - Wedbush Securities
Laura Champine - Loop Capital
Dana Telsey - Telsey Advisory Group
Operator
Good morning, everyone, and welcome to the Q1 2023 Steven Madden, Ltd. Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note today's event is being recorded.
At this time, I'd like to turn the floor over to Danielle McCoy, VP of Corporate Development and Investor Relations. Please go ahead.
Danielle McCoy
Thanks, Jamie, and good morning, everyone. Thank you for joining our first quarter 2023 earnings call and webcast.
Before we begin, I'd like to remind you that our remarks that follow including answers to your questions contain statements that we believe to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks that could cause actual results to materially differ from those expressed or implied by such forward-looking statements. These risks include, among others, matters that we have described in our press release issued earlier today and filings we make with the SEC.
We disclaim any obligation to update these forward-looking statements which may not be updated into our next quarterly earnings conference call, if at all. The financial results discussed on today's call are on an adjusted basis unless otherwise noted. A reconciliation to the most directly comparable GAAP financial measure and other associated disclosures are contained in our earnings release.
Joining me today on the call is Ed Rosenfeld, Chairman and Chief Executive Officer; and Zine Mazouzi, Chief Financial Officer.
With that, I'll turn the call over to Ed. Ed?
Edward Rosenfeld
Thanks, Danielle, and good morning, everyone, and thank you for joining us to review Steven Madden's first quarter 2023 results.
When we spoke to you on the last earnings call, we talked about the challenging setup we faced in the first quarter, including a choppy retail environment as consumers were pulling back on discretionary spending, conservative order patterns from our wholesale customers as they were prioritizing inventory control, and extremely tough comparisons with the prior year, as we were lapping a quarter where revenue was up 35% and diluted EPS was up 121% to pre-COVID 2019.