Steve Madden Q1 Profit Declines, Backs 2015 Outlook - Quick Facts

(RTTNews) - Steve Madden Ltd. (SHOO), a designer and marketer of fashion footwear and accessories, Friday announced that net income attributable to the company for the first quarter declined to $19.82 million or $0.32 per share from $23.64 million or $0.36 per share in the prior-year quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 6.3 percent to $323.95 million from $304.62 million in the same quarter last year. Wall Street analysts were looking for $316.40 million.

Gross margin for the quarter contracted 120 basis points to 34.4 percent from last year's 35.6 percent.

Looking ahead to fiscal 2015, the company continues to expect earnings in the range of $1.85 to $1.95 per share, on projected net sales growth of 7 to 9 percent. Street is currently looking for full-year 2015 earnings of $1.91 per share, on annual sales growth of 7.9 percent to $1.44 billion.