U.S. shoe and clothing maker Kenneth Cole Productions Inc posted a first-quarter loss as inventory cutbacks at its major wholesale partners and lower consumer spending drove a 16 percent fall in revenue.
Steven Madden Ltd posted a three-fold rise in quarterly profit, which topped market estimates, as its trendy footwear and accessories resonated with its young customers, and stood by its 2009 earnings outlook.
Option players in Crocs Inc appear to be betting on improved prospects for the shoe company after it reports quarterly results this week and that shares will rise by at least 66 percent into the summer.
Steven Madden Ltd raised its 2009 profit outlook and the shoe maker expects to report first-quarter results above market estimates, driven by the performance of the Steve Madden Womens and Madden Girl brands.
Shoe company Deckers Outdoor Corp posted better-than-expected first-quarter results, helped by strength in its UGG brand, but it forecast a second-quarter loss, sending its shares down more than 7 percent.
Shoe maker Wolverine World Wide Inc posted a first-quarter profit that beat market expectations, as strong sales at key brands and lower operating expenses helped offset some of the hit from unfavorable foreign exchange rates.
Shoe maker Crocs Inc said on Tuesday March 31 it received a six-month extension of its credit facility with Union Bank of California that was due to expire later this week. The existing facility will now mature Sept.
Footwear retailer DSW Inc (DSW.N) posted a wider-than-expected quarterly loss, hurt in part by higher costs, and said it would not provide an annual earnings outlook given the uncertainty in the U.S. economy.