Steve Madden down on lower-than-expected FY profit forecast

Steven Madden

28/02/2024 15:33

** Shares of designer footwear firm Steve Madden  SHOO.O 
fall ~2.1% to $42.73
    ** Co sees full-year 2024 EPS between $2.55 and $2.65
compared with analyst expectations of $2.69, according to LSEG
data
    ** SHOO says while the operating environment remains choppy,
it believes co is well-positioned for 2024 
    ** Co posts FY23 revenue of $2 bln, down 6.6% compared with
a year earlier 
    ** FY23 net profit falls to $2.30 per share vs $2.77 per
share, a year earlier
    ** Co's Q4 revenue rises 10.4% to $519.7 mln compared to
$470.6 mln in year-ago quarter 
    ** Stock up ~1.5% YTD, including session moves; Stock jumped
~31% in 2023 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))