Steve Madden Realized Net Profit Of US $24 Million 700 Thousand In The Two Quarter.

U.S.A Shoe shoe And accessories manufacturers and retailers Steven Madden Ltd. two quarter earnings compliance market Expected, but sales growth is weak, the group lowered its annual sales expectations.

On Tuesday, the US stock market weakened as a whole, and Steven Madden Ltd. fell 5.97%, or 33.52 dollars, with the big market.

In the two quarter of 4-6, Steven Madden Ltd. Ltd. realized net profit of $24 million 700 thousand, or $0.42 per diluted share, compared with 24 million 500 thousand US dollars and 0.40 US dollars in the same period last year.

Net sales increased by 0.6% to $325 million 400 thousand a year, less than the $330 million 100 thousand expected by the market. Wholesale channel sales, which account for more than 80% of the total business, fell by 1.4% to 262 million 900 thousand US dollars a year, while retail sales rose by 9.8% to 62 million 500 thousand dollars, while the same store sales recorded a 5.4% strong growth.

Steven Madden Ltd. now reduces the annual net sales growth forecast from the previous 2%-4% to 0%-1%, and the Group Chairman and chief executive officer Edward Rosenfeld has blamed the reasons in addition to Steve Madden and Dolce Vita. brand Footwear business and individual international distributors did not perform well. He explained further at the analysts' conference call after the earnings report that the group was planning to set up international business self-employed and joint venture companies, resulting in a reduction in orders from Asian and UAE distributors. On its own brand, he revealed that orders for autumn and winter boots were less than expected. But he praised the thriving Steve Madden's women's clothing business and Dolce Vita's footwear wholesale business.

The group maintained the expected annual profit of $1.93-2.03 per share, and the market's estimated annual earnings and diluted earnings per share were $1 billion 450 million and $2 respectively.

The gross profit margin in the two quarter was 37.2%, up 130 basis points from 35.9% in the same period last year.

The stock price of Steven Madden Ltd.2016 has risen 9.54% so far.