USA: Steve Madden Reports 29% Q2 Earnings Drop
New York-based shoemaker and retailer Steve Madden Ltd has reported a 29 per cent drop in second-quarter earnings.
The company said it earned $4.1 million (28 cents a share), a decrease from 45.8m (41 cents a share) the same time year.
Net sales for the first half of this year were $165.0m, compared to $164.4m in 2003, with gross margin increasing from 38.5% to 38.8%.
Net income was $8.2m compared to $10.8 last year.
Steve Madden still plans to open between eight and 12 new stores this year.
Companies: Steven Madden
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