Steven Madden (SHOO) Prelim. Q4, FY15 Revenue Slightly Lighter than Expected

Steve Madden (Nasdaq: SHOO) announced preliminary sales results for the fourth quarter and fiscal year ended December 31, 2015, and updated its fiscal year 2015 EPS guidance.

For the fourth quarter, net sales were $344.2 million, up 0.5% compared to the same period of 2014. Net sales for the wholesale division decreased 1.8% to $265.0 million. Retail net sales grew 8.9% to $79.2 million. Retail comparable store sales for the fourth quarter of 2015 increased 6.1%.

For fiscal year 2015, net sales were $1.4 billion, a 5.3% increase compared to fiscal year 2014. Wholesale net sales grew 3.3% to $1.2 billion. Retail net sales increased 15.9% to $240.3 million. Retail comparable store sales for fiscal year 2015 increased 11.2%.

*** The Street sees Q4 revenue of $360 million and FY15 revenue of $1.42 billion.

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 – $1.95.

Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “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% 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.”

Reported results are preliminary and remain subject to adjustment until the filing of the Company's Annual Report on Form 10-K with the SEC.

The Company will be presenting at the 18th Annual ICR Conference held at the JW Marriott Orlando Grande Lakes in Orlando, FL, on Tuesday, January 12, 2016, at 3:00 pm Eastern Time. The audio portion of the presentation will be webcast live over the internet and can be accessed through the Investor Relations page of our website at http://www.stevemadden.com/. An online archive will be available for a period of 90 days following the presentation.

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