Edward Rosenfeld, Chairman and Chief Executive Officer, commented: “We were pleased with our first quarter results, which were in line with our expectations. Our retail segment was again a standout, with a comparable store sales increase of 10.7% on top of an 11.6% increase in last year’s first quarter. Our wholesale footwear business also grew in the quarter, led by strong gains in our Steve Madden Women’s and Dolce Vita divisions. As expected, these increases were partially offset by a decline in our wholesale accessories segment. While we remain cautious with respect to our outlook for the year due to the uncertain retail environment, we are heartened by the strength of our current product assortments and the renewed momentum in our core business.”

In the first quarter, Steve Madden net sales increased by 1.7% totaling 329.4 million US dollars compared to 323.9 million US dollars in similar period in 2015.  Net income reached 20.0 million US dollars, or 0.33 US dollars per diluted share, compared to 19.8 million US dollars, or 0.32 US dollars per diluted share, in the prior year's first quarter.

Net sales for the wholesale business totaled 275.8 million US dollars in the first quarter of 2016 compared to 276.2 million US dollars in similar period2015. Retail net sales in the first quarter reached 53.6 million US dollars compared to 47.7 million US dollars in the first quarter of the prior year. Same store sales increased by 10.7% in the first quarter.

Steve Madden, a US-based designer and marketer of fashion footwear and accessories for women, men and children, ended the quarter with 171 company-operated retail locations, including 4 Internet stores.