Steven Madden Fights Industry Headwinds With Resilient Supply Chain: 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 $39.00. The company reported 2Q23 adjusted EPS of $0.47, slightly above the consensus estimate. However, revenues declined in both the wholesale and DTC channels. Despite industry headwinds, the analyst sees normalization of supply chain lead times as supportive of SHOO's competitive advantage.
August 04, 2023 | 11:58 am
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Steven Madden Ltd's 2Q23 earnings beat estimates but revenues declined. The company's supply chain resilience is seen as a competitive advantage.
The company's earnings beat estimates, which is a positive sign. However, the decline in revenues, especially in the wholesale and DTC channels, is a concern. The analyst's view of the company's supply chain resilience as a competitive advantage could support the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100