PREVIEW-Steven Madden to buck retail slump with 'Bonanza' sales

lunes 23 de febrero de 2009 17:14 CET

* What: Steven Madden reports Q4 results

* When: Feb. 24, Tuesday

* Profit to beat Street

* Sales to get lift from stylish boots

By Anne Pallivathuckal

BANGALORE, Feb 23 (Reuters) - Steven Madden Ltd's (SHOO.O: Cotización) young customers were drawn to the shoe maker's flat suede boots during the holidays, pointing to its keen sense for fashion that sells even during a recession.

A bleak spending environment has hit profits at many retailers and forced them to slash prices, but the appeal of Steven Madden's trendy 'Bonanza' boots is expected to help the company walk over market estimates for the fourth quarter.

The company's product offering in the quarter was superior to last year's collection, and sales of products not on discount were better despite poor economic conditions, Sterne Agee analyst Sam Poser said.

The company's 'Bonanza' boots, sold at Nordstrom Inc (JWN.N: Cotización), and similarly styled boots sold at Macy's Inc (M.N: Cotización) flew off shoe racks, analysts said.   Continuación...