Steven Madden, Ltd. (NASDAQ:SHOO) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Steven Madden, Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4% to $0.52 in the quarter versus EPS of $0.50 in the year-earlier quarter.
Revenue: Rose 4.86% to $278.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Steven Madden, Ltd. reported adjusted EPS income of $0.52 per share. By that measure, the company missed the mean analyst estimate of $0.52. It missed the average revenue estimate of $280.9 million.
Quoting Management: Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We delivered solid sales and earnings results in the first quarter despite challenging weather conditions and retail traffic trends. These results are attributable to continued momentum in our accessories business, growth in our retail segment driven by both new stores and moderate comparable store sales growth, as well as expansion of our international business. Steve and his design team continue to deliver outstanding, on-trend product assortments that are enabling us to outperform the competition, and so despite the challenging environment, we are confident we can continue to advance on our growth objectives.”
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