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March 19, 2013
14:30 EDTDSW, SHOO, BWS, GCOFootwear retailers fall after DSW says recent sales trends weak
Several footwear retailers are retreating after a company in the sector, DSW (DSW), reported weaker than expected fourth quarter results. DSW added that its comparative sales have fallen 5% during the first six weeks of the current quarter as sales trends have weakened. Others in the sector, including Steve Madden (SHOO), Genesco (GCO) and Brown Shoe Company (BWS), are falling significantly in the wake of DSW's results. However, in a note to investors earlier today, research firm Canccord recommended that investors use Steve Madden's weakness as a buying opportunity. The firm believes that Steven Madden is taking market share and that its business is tracking to plan. In mid-afternoon trading, Steve Madden fell 3.6% to $43, Genesco gave back 2% to $60.10, Brown Shoe Company lost 1.4% to $16.90 and DSW tumbled 6.7% to $62.50.
News For SHOO;GCO;BWS;DSW From The Last 14 Days
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January 28, 2015
09:01 EDTSHOOSteven Madden announces acquisition of Blondo, terms not disclosed
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07:41 EDTSHOOSteven Madden price target raised to $43 from $36 at Canaccord
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January 27, 2015
09:45 EDTBWSBrown Shoe initiated with an Outperform at Macquarie
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January 16, 2015
09:34 EDTDSWLeonard Green discloses stakes in Foot Locker, DSW
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