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 (NASDAQ: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. Revenue...
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|