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Fly News Breaks for March 1, 2016
SHOO
Mar 1, 2016 | 06:25 EDT
Goldman analyst Taposh Bari downgraded Steven Madden to Sell and lowered his price target to $27 from $32. The analyst believes investor expectations are too high given sluggish discretionary spending, the company's dependence on wholesale accounts with current high inventory levels, and increased competition from traditional athletic brands whose sportswear offerings have improved significantly.
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