Key Developments For Steven Madden, Ltd.
Steven Madden, Ltd. (SHOO.O) (Nasdaq)
Steven Madden Ltd. Reaffirms FY 2009 Guidance
Steven Madden Ltd. announced that for fiscal 2009, it expects net sales to increase in the range of 7%-8% compared to net sales in fiscal 2008 and diluted earnings per share (EPS) to be in the range of $2.55 to $2.65. The Company reported revenues of $457.05 million in fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report revenues of $491.80 million and EPS of $2.64 for the same period.
Steven Madden Ltd. Signs License Agreement With Dualstar Entertainment Group For Olsenboye
Steven Madden Ltd. announced that it has signed an exclusive licensing agreement with Dualstar Entertainment Group to design, manufacture, and distribute a collection of footwear and accessories for the Olsenboye brand.
Steven Madden Ltd. Issues Q3 2009 Outlook Above Analysts' Estimates; Raises FY 2009 Outlook
Steven Madden Ltd. announced that for third quarter of 2009, it expects net sales to be approximately $140 million and diluted earnings per share (EPS) to be approximately $0.97. It updated fiscal 2009 outlook and expects net sales to increase in the range of 7%-8% and diluted EPS to be in the range of $2.55-$2.65. This compares to previous guidance of $2.05-$2.15. According to Reuters Estimates, analysts were expecting the Company to report revenues of $130 million and EPS of $0.64 for third quarter of 2009 and revenues of $471 million and EPS of $2.12 for fiscal 2009.
Steven Madden Ltd. Raises FY 2009 Guidance
Steven Madden Ltd. raised its fiscal 2009 guidance and expects net sales to increase 2% to 4% compared to fiscal 2008. The Company previously expected net sales to range from flat to a decline of 2% as compared to fiscal 2008. Diluted EPS for fiscal 2009 is now expected to be in the range of $2.05 to $2.15 as compared to previous guidance in the range of $1.85 to $1.95. According to Reuters Estimates, analysts on an average are expecting the Company to report EPS of $1.89 on revenue of $457 million for the same period.
Steven Madden Ltd. Completes Acquisition of Assets of SML Brands
Steven Madden Ltd. announced that, through one of its subsidiaries, it has completed its acquisition of substantially all of the assets constituting the Zone 88 and Shakedown Street lines of SML Brands, LLC, a subsidiary of Aimee Lynn, Inc. The purchase price was $1.25 million, plus additional consideration for certain inventory. A portion of the purchase price was paid by assumption of certain liabilities of the seller. The balance of the purchase price was funded with cash on hand.
