In June, I wrote Bullish On Steven Madden: Hot Pair Of Booties To Match A Compelling Valuation. The stock price is up approximately 21% since then, including a nice jump following Q2 earnings and an upgrade from Goldman Sachs. I sold my position into this rally, but I am still bullish on Steve Madden (SHOO) and would be interested in re-establishing a position on a pullback. In this article I will analyze the recent developments at Steve Madden and shoe industry and provide an update to my bullish perspective on the company.
Summary of Steve Madden's Q2 performance:
"Steven Madden Ltd reported Q2 EPS of $0.65, $0.01 better than the analyst estimate of $0.64....