Steven Madden, Ltd. Announces Preliminary Sales Results for the Fourth Quarter and Fiscal Year Ended December 31, 2016; Revised Earnings Guidance for the Full Year of 2016
January 09, 2017 at 04:05 pm
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Steven Madden, Ltd. announced preliminary sales results for the fourth quarter and fiscal year ended December 31, 2016. For the fourth quarter, net sales were $336.4 million, down 2.3% compared to the same period of 2015. Net sales for the wholesale division decreased 5.1% to $251.5 million. Retail net sales increased 7.1% to $84.9 million. Retail comparable store sales for the fourth quarter of 2016 increased 1.1%.
For fiscal year 2016, net sales were $1.4 billion, a 0.4% decrease compared to fiscal year 2015. Wholesale net sales decreased 2.4% to $1.1 billion. Retail net sales increased 9.3% to $262.8 million. Retail comparable store sales for fiscal year 2016 increased 4.0%.
Diluted EPS for fiscal year 2016 is now expected to be at the high end of the Company's previously provided guidance range of $1.98 to $2.03.
Steven Madden, Ltd., and its subsidiaries designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel. The Wholesale Footwear segment designs, sources, and markets its brands and sells its products to department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers, independent stores, and clubs. The Wholesale Accessories/Apparel segment designs, sources, and markets its brands and sells its products to department stores, mass merchants, off-price retailers, online retailers, specialty retailers, independent stores, and clubs. The Direct-to-Consumer segment consists of Steve Madden and Dolce Vita full-price retail stores, Steve Madden outlet stores. Its Licensing segment is engaged in the licensing of the Steve Madden and Betsey Johnson trademarks for use in the sale of select apparel, accessory, and home categories as well as various other non-core products.
Steven Madden, Ltd. Announces Preliminary Sales Results for the Fourth Quarter and Fiscal Year Ended December 31, 2016; Revised Earnings Guidance for the Full Year of 2016