Nov 3 (Reuters) - Shoe maker Steve Madden Ltd (SHOO.O) reported a 61 percent jump in third-quarter profit, driven by strong sales and improved gross margins at its wholesale business.

Steve Madden (www.stevemadden.com)

Steve Madden said net sales at its wholesale segment rose 15 percent, driven by strength in the Madden Girl, Steven by Steve Madden, Steve Madden Women's and Steve Madden Men's wholesale footwear units.

For the wholesale business, gross margin was 41.2 percent, compared with 36.3 percent a year ago, driven primarily by reduced markdown allowances as a result of strong sell-through at retail.

The company reported a quarterly profit of 97 cents a share, up from 62 cents a share a year earlier.

Revenue at the company, whose lines include flagship brand Steve Madden, Stevies and Candies, rose 9 percent to $140.1 million.

Analysts were looking for a profit of 97 cents a share, on revenue of $139.93 million, according to Thomson Reuters I/B/E/S.

In October, the company, which sells to 12 to 25-year-old girls, forecast strong third-quarter results and raised its full-year profit view to top market expectations, citing strong boot sales in the fall.

Shares of the Long Island City, New York-based company closed at $40.71 Monday 2 November on Nasdaq.

For the alerts, double-click (Reporting by Shradhha Sharma in Bangalore; Editing by Gopakumar Warrier)