Steven Madden, Ltd. SHOO reported third-quarter 2022 results, wherein the top line beat the Zacks Consensus Estimate while the bottom line met the same. Also, revenues improved year over year while earnings dipped.Management cited that consumer demand for the brands and products has been healthy for a while. Although a tough macroeconomic backdrop is concerning, SHOO is well poised on sturdy brands and business model.Over the past three months, shares of this presently Zacks Rank #4 (Sell) player have decreased 7.6% compared with the industry’s 16.1% decline.Q3 HighlightsSteven Madden posted adjusted quarterly earnings of 79 cents a share that met the Zacks Consensus Estimate. The same dipped 3.7% from 82 cents reported in the prior-year period.Total revenues rose 5.3% year over year to $556.6 million. While net sales of $553.1 million increased 5.3%, commission and licensing fee income of $3.5 million declined 5.4% from the year-ago period’s level. The top line surpassed the Zacks Consensus Estimate of $532 million.Image Source: Zacks Investment ResearchGross profit increased 4.3% year over year to $229.5 million. However, the gross margin contracted 40 basis points to 41.2%. Gross profit as a percentage of wholesale revenues expanded 170 basis points to 35.3%, driven by a mix shift to the greater-margin branded business. However, gross profit as a percentage of direct-to-consumer revenues, increased 470 basis points to 61.2% owing to higher promotional activity.Adjusted operating expenses increased 14.4% year over year to $150.5 million. However, as a percentage of revenues, adjusted operating expenses expanded 210 basis points to 27%.Steven Madden reported an adjusted operating income of $79 million, down 10.6% from $88.4 million registered in the same quarter a year ago. Adjusted operating margin contracted 250 bps to 14.2%.Segmental PerformanceRevenues for the Wholesale business increased 8.1% year over year to $434.6 million. We note that Wholesale footwear revenues climbed 8.7% to $291.4 million, while Wholesale accessories/apparel revenues were up 6.2% to $105.7 million. Both units’ growth was buoyed by a sturdy increase in the branded business, somewhat offset by a drop in private label.Direct-to-consumer revenues dipped 3.7% to $118.5 million, driven by a decline in the e-commerce business. Brick-and-mortar revenues were almost flat year over year.Steven Madden ended the third quarter with 216 brick-and-mortar retail outlets, six e-commerce websites and 20 company-operated concessions across the international markets.Other Financial AspectsSteven Madden ended the reported quarter with cash and cash equivalents of $139.2 million, short-term investments of $9.1 million and stockholders’ equity of $842.3 million, excluding a non-controlling interest of $9.6 million. Management incurred capital expenditures of $10.1 million in the quarter.In the reported quarter, SHOO repurchased $35.1 million of its common stock, including shares acquired via the net settlement of employees’ stock awards. Moreover, the board approved a quarterly cash dividend of 21 cents per share, payable Dec 30, 2022, to its stockholders of record as of Dec 16, 2022.OutlookSteven Madden updated its 2022 guidance. Management now projects revenue growth of 12.5-13.5% from the last year’s level. However, the guidance compared unfavorably with the prior expectation of a 13-16% increase.SHOO envisions earnings per share of $2.77-$2.79 and an adjusted earnings view of $2.77-$2.82 for 2022. Earlier, management had guided earnings per share of $2.87-$2.97 and adjusted earnings per share of $2.90-$3.00. Last year, Steven Madden reported revenues of $1.87 billion and adjusted earnings of $2.50 per share.Stocks to ConsiderHere we highlighted three better-ranked stocks, namely Designer Brands DBI, Delta Apparel DLA and Caleres CAL.Designer Brands designs, manufactures, and retails footwear and accessories. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Designer Brands’ current financial-year revenues and earnings per share (EPS) suggests growth of 6.9% and 23.5%, respectively, from the corresponding year-ago reported figures. DBI has a trailing four-quarter earnings surprise of 55.1%, on average.Delta Apparel is a manufacturer of activewear and lifestyle apparel products. DLA has a Zacks Rank #2 (Buy) at present.The Zacks Consensus Estimate for Delta Apparel’s current financial-year sales and EPS suggests growth of 12.6% and 27.4%, respectively, from the year-ago corresponding figures. DLA has a trailing four-quarter earnings surprise of 34.2%, on average.Caleres, a footwear dealer, has a Zacks Rank of 2 at present. CAL has a trailing four-quarter earnings surprise of 34.9%, on average.The Zacks Consensus Estimate for Caleres’ current financial-year sales and EPS suggests growth of 5.6% and 0.9%, respectively, from the year-ago corresponding figures. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Steven Madden, Ltd. (SHOO): Free Stock Analysis Report Caleres, Inc. (CAL): Free Stock Analysis Report Delta Apparel, Inc. (DLA): Free Stock Analysis Report Designer Brands Inc. (DBI): Free Stock Analysis Report To read this article on Zacks.com click here. 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