Shoe and apparel company Steven Madden (NASDAQ: SHOO) will be announcing earnings results this Thursday morning. Here’s what investors should know.
Steven Madden beat analysts’ revenue expectations last quarter, reporting revenues of $653.1 million, up 18% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS 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 13.7% year on year, improving from the 6.8% increase it recorded 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 will 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 Q2 results, giving us a hint as to what we can expect. Nike’s revenues decreased 1.1% year on year, beating analysts’ expectations by 1.1%, and Deckers reported revenues up 5.7%, in line with consensus estimates. Nike traded up 4.9% following the results while Deckers’s stock price was unchanged.
Read our full analysis of Nike’s results here and Deckers’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat 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 $46.78 (compared to the current share price of $44.06).
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