Steven Madden reports preliminary Q4 revenue $364.4M, consensus $360.3M
Reports Q4 retail SSS down 5.1%. CEO Edward Rosenfeld says: "We are pleased with our fourth quarter results, with earnings per share expected to be at the high end of our guidance range. Solid performance in our wholesale business was offset by softness, as expected, in our retail segment driven by weakness in the boot category. Overall, 2017 was a strong year for Steve Madden. We delivered robust sales and earnings growth driven by the outstanding performance of our flagship Steve Madden brand in the wholesale channel. We also took a number of steps to position the Company for future growth, including the acquisition of Schwartz & Benjamin and the formation of new joint ventures in China and Taiwan. As we look ahead, we are confident that our strong brands and increasingly diversified business model position us to continue to drive top- and bottom-line gains for years to come."