Steven Madden beats Street 1Q forecasts

Associated Press |

LONG ISLAND CITY, N.Y. (AP) _ Steven Madden Ltd. (SHOO) on Friday reported first-quarter net income of $20.2 million.

The Long Island City, New York-based company said it had profit of 35 cents per share. Earnings, adjusted for non-recurring costs, were 47 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.



The footwear and accessories retailer posted revenue of $366.4 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $359.5 million.

Steven Madden expects full-year earnings in the range of $2.12 to $2.18 per share.

Steven Madden shares have risen roughly 4 percent since the beginning of the year. The stock has climbed almost 1 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHOO at https://www.zacks.com/ap/SHOO

Keywords: Steven Madden, Earnings Report

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

Lomiko Metals Inc.

Lomiko Metals Inc is an exploration stage company. It is engaged in the acquisition, exploration and development of resource properties. Its projects include Vines Lake project and Quatre - Milles…

Private Markets

D-Wave

D-Wave Systems is the first quantum computing company. Its mission is to integrate new discoveries in physics, engineering, manufacturing, and computer science into breakthrough approaches to computation to help solve…

WayBetter

The spark hit Jamie when he saw co-workers competing to lose weight. Instead of pizzas and subs, they were eating salads and jogging along the river. Some were sneakily leaving…