Steven Madden Q1 Adjusted EPS Beats Estimates

Steven Madden said Friday its Q1 adjusted net earnings per share was $0.47, compared to the unadjusted reported earnings of $0.39 a year ago, and beating Capital IQ analysts’ expectations of $0.43 per share.

The company said in a press release it had net sales in Q1 of $366.4 million, up from $329.4 million in the same period a year ago and above analysts’ consensus expectation of $359.5 million. The company said it expects net sales for 2017 to be up 8% to 10% from 2016, and adjusted EPS to be $2.12 to $2.18. Analysts are expecting FY EPS of $2.17.

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