Steve Madden Predicts Mixed Results for Q4 Earnings

In What's New, Industry News by Accessories Staff

steve maddenLong Island City, NY—Steve Madden reported late Monday a mixed preliminary earnings report citing “a challenging retail environment and unfavorable weather.”

For its fourth quarter, the footwear and accessories company now expects its fourth quarter 2015 revenue to increase 0.5% to $344.2 million, missing analysts’ estimate for $360.28 million in sales.

As far as its full fiscal year estimate, Steve Madden expects earnings per share in the low of its previous forecast of $1.85 to $1.95 a share. Analysts’ consensus predicted $1.89 a share.

Meanwhile, the company said its net sales for fiscal 2015 rose 5.3% from a year ago to $1.4 billion while retail comparable store sales for the full year rose 11.2%.

“In light of the challenging retail environment and unfavorable weather in the fourth quarter, we are pleased that earnings results for fiscal 2015 are expected to be within the guidance range, albeit at the low end,” Edward Rosenfeld, chairman/ceo, said. “Fourth quarter diluted EPS is expected to increase more than 25% from the prior year period despite headwinds from a heavily promotional retail environment and a challenging landscape for seasonal products like boots and cold weather accessories.”

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