Steven Madden, Ltd. Announces Sales Result for the Fourth Quarter and Year Ended December 31, 2017; Revised EPS Guidance for the Full Year 2017
January 08, 2018 at 06:59 am
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Steven Madden, Ltd. announced sales result for the fourth quarter and year ended December 31, 2017. For the fourth quarter, net sales were $364.4 million, up 8.3% compared to the same period of 2016. Net sales for the wholesale division increased 10.6% to $278.2 million, or 2.5% to $257.9 million excluding results from Schwartz & Benjamin. Retail net sales increased 1.5% to $86.2 million. Retail comparable store sales for the fourth quarter of 2017 decreased 5.1%.
For fiscal year 2017, net sales were $1.5 billion, a 10.5% increase compared to fiscal year 2016. Wholesale net sales increased 12.1% to $1.3 billion, or 5.0% to $1.2 billion excluding results from Schwartz & Benjamin. Retail net sales increased 3.6% to $272.2 million. Retail comparable store sales for fiscal year 2017 decreased 3.2%.
The company also updated fiscal year 2017 EPS guidance. Diluted EPS for fiscal year 2017 is now expected to be at the high end of the Company's previously provided guidance range.
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. 
