Needham Starts Steven Madden (SHOO) at Hold

Needham analyst Tom Nikic initiates coverage on Steven Madden (NASDAQ: SHOO) with a Hold rating.

The analyst comments "SHOO is a well-run business with some clear pockets of strength (International, apparel/accessories), but tough macro conditions keep us sidelined at this moment. Most notably, we are concerned about the risk of potential tariffs on Chinese imports during President-Elect Trump's 2nd term in office, as SHOO has the highest exposure of China-to-U.S. imports in our coverage. In addition, challenging macro conditions overall could keep demand muted for the time being, particularly among wholesale customers who continue to manage their inventory levels tightly. We also received discouraging results from a recent survey we conducted of U.S. consumers regarding Holiday shopping plans, boding poorly for the upcoming selling season."

For an analyst ratings summary and ratings history on Steven Madden click here. For more ratings news on Steven Madden click here.

Shares of Steven Madden closed at $42.82 yesterday.

You May Also Be Interested In