Steve Madden Announces Fourth Quarter and Fiscal Year 2015 Sales Results

LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--

Steve Madden SHOO, a leading designer and marketer of fashion footwear and accessories for women, men and children, today announced preliminary sales results for the fourth quarter and fiscal year ended December 31, 2015, and updated its fiscal year 2015 EPS guidance.

For the fourth quarter, net sales were $344.2 million, up 0.5% compared to the same period of 2014. Net sales for the wholesale division decreased 1.8% to $265.0 million. Retail net sales grew 8.9% to $79.2 million. Retail comparable store sales for the fourth quarter of 2015 increased 6.1%.

For fiscal year 2015, net sales were $1.4 billion, a 5.3% increase compared to fiscal year 2014. Wholesale net sales grew 3.3% to $1.2 billion. Retail net sales increased 15.9% to $240.3 million. Retail comparable store sales for fiscal year 2015 increased 11.2%.

Diluted EPS for fiscal year 2015 is now expected to be at the low end of the Company's previously provided guidance range of $1.85 – $1.95.

Edward Rosenfeld, Chairman and Chief Executive Officer, commented, "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. 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."

Reported results are preliminary and remain subject to adjustment until the filing of the Company's Annual Report on Form 10-K with the SEC.

The Company will be presenting at the 18th Annual ICR Conference held at the JW Marriott Orlando Grande Lakes in Orlando, FL, on Tuesday, January 12, 2016, at 3:00 pm Eastern Time. The audio portion of the presentation will be webcast live over the internet and can be accessed through the Investor Relations page of our website at http://www.stevemadden.com/. An online archive will be available for a period of 90 days following the presentation.

About Steve Madden

Steve Madden designs, sources and markets fashion-forward footwear and accessories for women, men and children. In addition to marketing products under its own brands including Steve Madden®, Dolce Vita®, Betsey Johnson®, Report®, Big Buddha®, Brian Atwood®, Cejon®, Blondo® and Mad Love®, Steve Madden is the licensee of various brands, including Superga® for footwear in North America. Steve Madden also designs and sources products under private label brand names for various retailers. Steve Madden's wholesale distribution includes department stores, specialty stores, luxury retailers, national chains and mass merchants. Steve Madden also operates 169 retail stores (including Steve Madden's four Internet stores). Steve Madden licenses certain of its brands to third parties for the marketing and sale of certain products, including for ready-to-wear, outerwear, intimate apparel, eyewear, hosiery, jewelry, fragrance, luggage and bedding and bath products. For local store information and the latest Steve Madden booties, pumps, men's and women's boots, dress shoes, sandals and more, visit http://www.stevemadden.com/.

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