Updates Fiscal Year 2015 EPS Guidance
LONG ISLAND CITY, N.Y.–(BUSINESS WIRE)–Steve Madden (Nasdaq:SHOO), a leading designer and marketer of fashion
footwear and accessories for women, men and children, today announced
preliminary sales results for the fourth quarter and fiscal year ended
December 31, 2015, and updated its fiscal year 2015 EPS guidance.
For the fourth quarter, net sales were $344.2 million, up 0.5% compared
to the same period of 2014. Net sales for the wholesale division
decreased 1.8% to $265.0 million. Retail net sales grew 8.9% to $79.2
million. Retail comparable store sales for the fourth quarter of 2015
For fiscal year 2015, net sales were $1.4 billion, a 5.3% increase
compared to fiscal year 2014. Wholesale net sales grew 3.3% to $1.2
billion. Retail net sales increased 15.9% to $240.3 million. Retail
comparable store sales for fiscal year 2015 increased 11.2%.
Diluted EPS for fiscal year 2015 is now expected to be at the low end of
the Company’s previously provided guidance range of $1.85 – $1.95.
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.
The Company will be presenting at the 18th Annual ICR Conference held at
the JW Marriott Orlando Grande Lakes in Orlando, FL, on Tuesday, January
12, 2016, at 3:00 pm Eastern Time. The audio portion of the presentation
will be webcast live over the internet and can be accessed through the
Investor Relations page of our website at http://www.stevemadden.com/.
An online archive will be available for a period of 90 days following
About Steve Madden
Steve Madden designs, sources and markets fashion-forward footwear and
accessories for women, men and children. In addition to marketing
products under its own brands including Steve
Love®, Steve Madden is the licensee of various brands, including Superga®
for footwear in North America. Steve Madden also designs and sources
products under private label brand names for various retailers. Steve
Madden’s wholesale distribution includes department stores, specialty
stores, luxury retailers, national chains and mass merchants. Steve
Madden also operates 169 retail stores (including Steve Madden’s four
Internet stores). Steve Madden licenses certain of its brands to third
parties for the marketing and sale of certain products, including for
ready-to-wear, outerwear, intimate apparel, eyewear, hosiery, jewelry,
fragrance, luggage and bedding and bath products. For local store
information and the latest Steve Madden booties, pumps, men’s and
women’s boots, dress shoes, sandals and more, visit http://www.stevemadden.com/.
Jean Fontana/Megan Crudele