Steve Madden has outdone himself, while announcing that net sales increased by 6,2% in 2018 first quarter, thus reaching overall 389 million dollars (319 million euros), driven by business growth both in the retail and in the wholesale segments. Not to mention, in addition to that, the very good trend of the flagship brand, namely Steve Madden itself, which keeps being very popular amongst customers who are looking for “fashionable and cheap models”. Net profits increased by over 40%, thus moving from 20,2 up to 28,7 million dollars (23,5 million euros). “Accomplishments achieved in the first quarter went beyond our expectations”, remarked Edward Rosenfeld, president and managing director of the group: “We are very happy, in particular, about our strong expansion in the overseas markets, since our investments, carried out through our flagship brand, Steve Madden, along with our international organization, proved to be very profitable”. The US group expects net sales to go up by 5 to 7% in 2018 financial year.
Madden outdoes himself as quarterly revenues go beyond expectations (+6,2%) and drive 2018 business turnover towards +7%
