Steven Madden Ltd (NASDAQ:SHOO) reported a slight sales decline of 0.7% YoY to $552.73 million for Q3 FY23, beating consensus estimates. The company's wholesale business revenue decreased 0.3% YoY, and Direct-to-consumer revenue fell 1.8%. However, gross profit margin improved to 42.1% from 41.2% YoY. The company also completed the acquisition of apparel designer Almost Famous for $52M. Despite softer industry trends, the company remains confident in its long-term growth, but has revised its FY23 outlook, expecting a revenue decline of 7%.