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Steve Madden Limited – Value – Zacks Rank Buy
Tracey Ryniec (November 6th, 2009) Writes:
Steve Madden Limited (SHOO) is hot. The company posted record sales in the third quarter and has raised 2009 earnings guidance each of the last 3 quarters. SHOO is attractively valued, trading at 14.2x forward earnings.
Company Description
Steve Madden manufactures footwear and accessories for men, women and children that are sold through 88 company-owned retail stores, department stores, specialty retailers and at the company's web site, www.stevemadden.com.
It is also the licensee for footwear for Elizabeth and James and l.e.i. which is sold at Wal-Mart, footwear, handbags and belts for Fabulosity and Olsenboye, and for handbags and belts for Betsey Johnson and Daisy Fuentes.
Steve Madden Posted Record Sales in the Third Quarter
Investors knew the news was going to be good from Steve Madden when it reported on Nov 3 because the company pre-announced its earnings and sales results on Oct 20.
As a
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