New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 28, 2014
08:26 EDTKATEKate Spade discloses departure of Robert Vill, SVP-Finance
Kate Spade & Company disclosed in a regulatory filing the departure of Robert Vill, Senior Vice President Finance and Treasurer, effective May 30. His separation is without cause due to restructuring activities related to the sale of the Juicy Couture intellectual property and related assets and the sale of Lucky Brand Dungarees and Vill will provide limited consulting services to the company for a period of time following his departure, the company said.
News For KATE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 30, 2014
10:02 EDTKATEOn The Fly: Analyst Initiation Summary
Subscribe for More Information
06:00 EDTKATEKate Spade initiated with a Neutral at Mizuho
Target $28.
October 20, 2014
13:10 EDTKATESteve Madden tumbles after providing preliminary Q3 results, FY14 outlook
Shares of shoe and accessory company Steve Madden (SHOO) are tumbling after the company announced preliminary third quarter results that were below analysts' consensus along with a reduction to its fiscal year 2014 outlook. WHAT'S NEW: Steve Madden announced that it is anticipating Q3 earnings per share to be approximately 61c-62c and net sales of $392M, below analysts' consensus estimates of 67c and $415.72M, respectively. The company noted that retail comparable store sales for the quarter are anticipated to be down 7.4%. Steve Madden also reduced its FY14 EPS outlook to $1.81-$1.86 from $2.00-$2.10, well below analysts' $2.02 consensus. The company lowered its net sales projection for the year, and now sees net sales up 1%-2% over fiscal year 2013 versus its previous net sales guidance for up 2%-4% over FY13. The new guidance factors in the recent acquisition of Dolce Vita and current expectations for remainder of the year. On August 14, Steve madden acquired Dolce Vita for $60.3M in cash and previously said the deal would be accretive to earnings in FY14 by 2c-3c and be "modestly accretive" in FY15. WHAT'S NOTABLE: Steve Madden's Chief Executive Officer Edward Rosenfeld said that the company's Q3 earnings were "disappointing" and were the result of weaker than expected retail segment performance. He believes that retail trends in the footwear space will continue to be difficult through the fourth quarter due to a lack of noteworthy fashion trends in the industry. The CEO said that the company's full-year guidance results from this pattern, along with a lowered reorder outlook in its wholesale segment. Rosenfeld is still confident, however, in the company's business model and believes that its acquisitions of Dolce Vita and its Mexican licensee will fuel the business forward over the long term. OTHERS TO WATCH: Competitors of Steve Madden include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Vera Bradley. PRICE ACTION: During afternoon trading, shares of Steve Madden fell $2.62 or 8.2%, to $29.32. Over the last twelve months, the stock has fallen over 15%.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use