Steven Madden Net Sales Rose 1.2% In The Three Quarter.

U.S.A

Accessories manufacturers and retailers

Ltd. achieved better in the three quarter.

After the expected sales and profits, the lower limit of the EPS target interval was raised.

Now Steven Madden Ltd. expects EPS EPS to be between $1.98-2.03 and $1.93, while Wall Street analysts expect $1.99 of EPS.

The net sales forecast for the whole year remained unchanged at an increase of 0-1% compared with the same period last year, while Wall Street analysts forecast sales of $1 billion 410 million.

In the three quarter ended September 30th, the group's net sales rose 1.2% to $408 million 400 thousand compared with the same period last year, which is better than Wall Street analysts' expectations of $404 million 600 thousand.

Wholesale sales decreased by 2.9% to 346 million 600 thousand dollars, retail sales rose 9.6% to 62 million 800 thousand dollars, and same store sales grew by 1.3%, slower than 5.4% in the two quarter.

Group Chairman and chief executive officer Edward Rosenfeld pointed out in the earnings report that the core Steve Madden brand women's footwear business and the Dolce Vita brand have achieved remarkable growth during the period. Their close commodity combination and strict inventory management helped to raise the gross margin by 180 basis points to 37.8%.

He was satisfied with the expected sales and profits of the group under the continuous challenge of the overall retail environment and the cautious attitude of its wholesale partners.

The net profit attributable to Steven Madden Ltd. during the period was $43 million 767 thousand, an increase of 2.1% over the same period last year of $42 million 885 thousand, and EPS EPS increased from $0.70 to $0.74, a 5.7% higher than the 0.70 US dollars expected.