Steven Madden To See Wholesale Order Shifts & Volatile Consumer Shopping Behaviors In Q2, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on Steven Madden Ltd (NASDAQ:SHOO) with a price target of $39. The company is expected to report Q2 2023 results on August 2, 2023. The analyst expects a Q2 EPS of $0.48, down from $0.63 last year, and total sales to decrease 12.5% Y/Y to $468 million. Despite volatile macro conditions, the analyst believes SHOO's wholesale channel trends can improve through the year.
July 27, 2023 | 7:27 pm
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Steven Madden Ltd's Q2 2023 results are expected to show a decrease in EPS and total sales. However, the analyst believes the company's wholesale channel trends can improve through the year.
The analyst's forecast of a decrease in EPS and total sales for Q2 2023 could negatively impact Steven Madden Ltd's stock price in the short term. However, the potential improvement in wholesale channel trends could offset some of this negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100