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Stock Market & Financial Investment News

News Breaks
March 19, 2013
14:30 EDTSHOO, GCO, BWS, DSWFootwear 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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September 30, 2014
07:33 EDTSHOOSteven Madden to acquire Mexico licensee
Steve Madden announced that it has signed a definitive agreement to acquire Trendy Imports S.A. de C.V., Comercial Diecisiette S.A. de C.V., and Maximus Designer Shoes S.A. de C.V., together, known as “SM Mexico”. As Steve Madden’s Mexican licensee, SM Mexico markets Steve Madden products in Mexico in the wholesale channel as well as in Steve Madden-branded retail stores. The purchase is a cash transaction for approximately $15M, subject to a working capital adjustment, plus repayment of a short term loan and an earn-out provision based on future financial performance. The transaction is expected to close in January 2015 and is expected to be accretive, contributing approximately 2c-3c in diluted EPS in 2015.
September 23, 2014
09:39 EDTDSWDSW's Q3 revenues tracking below consneus, says ITG Research
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September 19, 2014
11:48 EDTBWSBrown Shoe division expands to West Coast
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September 18, 2014
16:02 EDTBWSBrown Shoe Company invest in Jack Erwin
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13:20 EDTBWSBrown Shoe leads investment in online shoe startup, Re/code reports
Brown Shoe Company is leading a $9M investment in Jack Erwin, a New York City-based online shoe brand that began selling its footwear last year and utilizes a unique business model to sell high-end men's shoes for under $200, according to Re/code, citing an interview with Brown Shoe's CEO, Diane Sullivan. Jack Erwin had raised approximately $3M in two previous investment rounds, Re/code added. Reference Link

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