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

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