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Stock Market & Financial Investment News

News Breaks
January 10, 2014
09:56 EDTSHOOSteven Madden reports Q4 revenue $342.6M, consnesus $346.43M
Net sales for the wholesale division grew 10.5% to $273.1M. Retail net sales rose 1.7% to $69.5M. Retail comparable store sales for the fourth quarter of 2013 decreased 6.7%.
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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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