Based upon results to-date, the company is increasing its outlook for the year and now anticipates fiscal 2006 net sales will increase approximately 21% to 24% over fiscal 2005. With respect to the bottom line, it currently expects that earnings per diluted share will range between $1.90 and $2.00. In May 2006, it effected a 3-for-2 stock split of its outstanding shares of common stock.
"We are very pleased with our performance during the first half of fiscal 2006," Karson concluded. "Looking ahead, we continue to focus on maintaining solid execution of our stated strategies. Specifically, we look to support Steve and our outstanding creative team, whose consistently fresh designs resonate with our customers and provide the catalyst for our success. We are also dedicated to sustaining and building upon the operational improvements we have achieved to date. These efforts, combined with an eye towards further diversification of our business, position Steven Madden, Ltd. for a solid future."
Steven Madden Ltd designs and markets fashion-forward footwear and accessories for women, men and children. The shoes and accessories are sold through company-owned retail stores, department stores, apparel and footwear specialty stores.
marketing@alchempro.com
