Steve Madden expects Q4 EPS to be in the guidance range

Steve Madden in its preliminary sales results for the fourth quarter and fiscal year ended December 31, 2015, said that the fourth quarter, net sales were 344.2 million dollars, up 0.5 percent compared to the same period of 2014. For fiscal year 2015, net sales were 1.4 billion dollars, a 5.3 percent increase compared to fiscal year 2014.

“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 percent 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,” said Edward Rosenfeld, Chairman and Chief Executive Officer.

Net sales for the wholesale division in the fourth quarter decreased 1.8 percent to 265 million dollars and retail net sales grew 8.9 percent to 79.2 million dollars. Retail comparable store sales for the fourth quarter increased 6.1 percent. Wholesale net sales for the full year grew 3.3 percent to 1.2 billion dollars and retail net sales increased 15.9 percent to 240.3 million dollars. Retail comparable store sales for fiscal year 2015 increased 11.2 percent.

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 dollars to 1.95 dollars.