Steve Madden Reports Q1 Revenue of $653.1M
Reports Q1 revenue $653.1M, consensus $650.0M. Edward Rosenfeld, Chairman and Chief Executive Officer, commented, "We got off to a solid start to the year in the first quarter, with healthy underlying demand across our brands driven by compelling product assortments and strong marketing execution. The Steve Madden brand continued to gain momentum, as consumers responded favorably to our on-trend assortments, resulting in strong comps in our direct-to-consumer business and robust sell-through performance in wholesale. The Kurt Geiger London brand also delivered another strong quarter, with continued momentum across channels. While earnings declined in the first quarter, we expect to return to earnings growth in the second quarter and deliver strong top- and bottom-line growth for the full year. Looking out further, we are confident that our powerful brands, proven business model and talented team position us to deliver sustainable growth for years to come."
