Steve Madden (NASDAQ: SHOO) 1Q19 Results: Steve Madden Women’s Wholesale and Accessories Drive Strong Momentum

Executive Summary

• 1Q19 sales rose 5.6% driven by strong growth in wholesale accessories. Same-store sales rose 6.3% driven by the strong performance in e-commerce.
• The adjusted operating margin expanded 80 basis points (bps) to 11.0% of sales.
• Adjusted EPS increased 16.7% to $0.42. The company raised its 2019 sales and earnings guidance, raising EPS guidance to $1.76-1.84 from $1.70-1.78.