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July 29, 2014
07:52 EDTSHOOSteven Madden well positioned for next fashion cycle upturn, says Canaccord
Canaccord said Steve Madden had an issue with a private label customer that will impact Q2 sales, but that the impact should be more than made up in Q3. The firm believes the company's wholesale business outperformed and took market share, managed down its slower-turning inventory, and has easier comps in Q3. Canaccord has a Buy rating with a $43 price target on the stock.
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