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Steven Madden vs Caleres: SHOO and CAL compared
Steven Madden is the larger company: $773M of revenue in its latest quarter (Q3 2026) against $695M for Caleres (Q2 FY27). Steven Madden is growing faster (+16% against +6% a year earlier). Caleres is more profitable, with an operating margin of 11.2% against 9.5%.
Where the money goes: SHOO and CAL
Steven Madden (SHOO) · Q3 2026
Steven Madden, Q3 2026: revenue $773M (+16% year over year), operating margin 9.5%, net earnings $52.4M, operating cash flow $3.5M. The chart follows the revenue to costs, profit and cash.
Caleres (CAL) · Q2 FY27
Caleres, Q2 FY27: revenue $695M (+6% year over year), operating margin 11.2%, net earnings $58.6M, operating cash flow $83.6M. The chart follows the revenue to costs, profit and cash.
| Steven Madden (SHOO) | Caleres (CAL) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 FY27 |
| Revenue | $773M | $695M |
| Revenue growth, Y/Y | +16% | +6% |
| Gross margin | 44.6% | 54.8% |
| Operating margin | 9.5% | 11.2% |
| Net earnings | $52.4M | $58.6M |
| Net margin | 6.8% | 8.4% |
| Operating cash flow | $3.5M | $83.6M |
| Free cash flow | — | $75.6M |
| Market value | $2.9B | $417M |
| P/E | 16.2× | 8.3× |
| Analysts’ mean target | $52.11 | $17.00 |
Where the revenue comes from
Caleres
- Total direct-to-consumer sales: $498M (72%)
- E-commerce - Company websites: $115M (17%)
- Wholesale - e-commerce: $64.4M (9%)
- Wholesale - first cost: $14.6M (2%)
Questions
Which is bigger, Steven Madden or Caleres?
Steven Madden is the larger company: $773M of revenue in its latest quarter (Q3 2026) against $695M for Caleres (Q2 FY27).
Is Steven Madden or Caleres growing faster?
Steven Madden is growing faster (+16% against +6% a year earlier).
Which is more profitable, Steven Madden or Caleres?
Caleres is more profitable, with an operating margin of 11.2% against 9.5%.
More: Steven Madden earnings · how Steven Madden makes money · Caleres earnings · how Caleres makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Sep 10, 2026). Fiscal quarters can end on different dates. Not investment advice.