Shoe and apparel company Steven Madden (NASDAQ: SHOO) will be announcing earnings results this Wednesday before market open. Here’s what investors should know.
Steven Madden met analysts’ revenue expectations last quarter, reporting revenues of $753.7 million, up 29.4% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates but revenue in line with analysts’ estimates.
Is Steven Madden a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Steven Madden’s revenue to grow 17.2% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Steven Madden has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Steven Madden’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Nike posted flat year-on-year revenue, meeting analysts’ expectations, and Crocs reported a revenue decline of 1.7%, topping estimates by 2.1%. Nike traded down 15.5% following the results while Crocs was up 3.7%.
Read our full analysis of Nike’s results here and Crocs’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 4.4% on average over the last month. Steven Madden is up 3.5% during the same time and is heading into earnings with an average analyst price target of $43.89 (compared to the current share price of $36.43).
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