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Steven Madden Reports Q2 Earnings Beat

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Steven Madden (NASDAQ: SHOO) reported second-quarter earnings of 47 cents per share, which beat the analyst consensus estimate of 43 cents by 9.3%. This is a 22.95% decrease over earnings of 61 cents per share from the same period last year.

The company reported quarterly sales of $445 million, which beat the analyst consensus estimate of $420.4 million by 5.85%. This is a 12.44% increase over sales of $395.753 million the same period last year.

"We delivered a strong second quarter, with net sales growing 12% and Adjusted diluted EPS increasing 16% compared to the prior year period,” said Edward Rosenfeld, CEO of Steven Madden. “Looking ahead, we remain on track to achieve our sales and Adjusted diluted EPS guidance for 2019 despite an estimated incremental headwind of approximately 5 cents per share related to the increase in the tariff on List 3 products from China from 10% to 25% in effect as of May 10.

"Based on the strength of our brands and our business model – combined with our consistency in delivering on-trend product that resonates with consumers – we are confident that we can continue to drive sales and earnings growth and create value for shareholders over the long term."

Steven Madden shares were trading up 0.05% at $33.75 in Tuesday’s pre-market session. The stock has a 52-week high of $39.30 and a 52-week low of $27.88.

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Posted-In: Earnings News

 

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