Steven Madden (SHOO) Q4 Earnings Meet Estimates, Revenues Lag
Zacks Investment Research | Feb 27, 2020 09:12PM ET
Steven Madden, Ltd. (NASDAQ:SHOO) came up with its fourth-quarter 2019 results, wherein the bottom line met the Zacks Consensus Estimate, while the top line missed the same. We note that net sales improved year over year but earnings per share came below the prior-year reported figure. Notably, the company witnessed incremental sales at its retail business but registered a decline across its wholesale business.
Looking ahead, management remains concerned about the coronavirus outbreak, China tariffs and the termination of the Kate Spade footwear license. As a result, the company disappointed investors with its 2020 projection. We note that shares of this designer and marketer of fashion footwear and accessories fell 6% during the trading session on Feb 27. Meanwhile, the stock has plunged roughly 23% in the past three months compared with the Zacks Investment Research
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