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Sales growth at Steve Madden

Jan 13, 2016 United States
Sales growth at Steve Madden
The US-based designer and marketer of fashion footwear and accessories for women, men and children, announced preliminary sales results for the fourth quarter and fiscal year ended on the 31st of December
For the fourth quarter, net sales totaled 344.2 million US dollars, up by 0.5% compared to the same period of 2014. Net sales for the wholesale division decreased by 1.8% reaching 265.0 million US dollars. Retail net sales grew by 8.9% to total 79.2 million US dollars and retail comparable store sales for the fourth quarter of 2015 increased by 6.1%.

For fiscal year 2015, net sales totaled 1.4 billion US dollars, a 5.3% increase compared to fiscal year 2014. Wholesale net sales grew by 3.3% totaling 1.2 billion US dollars. Retail net sales increased by 15.9% reaching 240.3 million. Retail comparable store sales for fiscal year 2015 increased by 11.2%.
 
Edward Rosenfeld, Chairman and Chief Executive Officer, commented: "In light of the challenging retail environment and unfavorable weather in the fourth quarter, we are pleased that earnings results for fiscal 2015 are expected to be within the guidance range, albeit at the low end. Fourth quarter diluted EPS is expected to increase more than 25% from the prior year period despite headwinds from a heavily promotional retail environment and a challenging landscape for seasonal products like boots and cold weather accessories."

Reported results are preliminary and remain subject to adjustment until the filing of the company's Annual Report on Form 10-K with the SEC (Securities and Exchange Commission).

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