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Stock Market & Financial Investment News

News Breaks
February 26, 2013
14:35 EDTSHOOSteven Madden pullback is a buying opportunity, says Citigroup
Citigroup would use today's weakness as a buying opportunity. The firm said fundamentals remain intact and that the company is well positioned for growth. Shares are Buy rated with a $55 price target.
News For SHOO 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.

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