Auriga Increases Steve Madden's EPS Estimates

According to a research report published this morning, Auriga has raised Steve Madden's (NASDAQ: SHOO) Q1 EPS estimate by $0.01 to $0.50.

Auriga commented in the report, “We are increasing our Q1 EPS estimate following channel checks that point to strong sell through and limited discounting of product. We believe Q1 was bolstered by a strong spring product selection; color across the spring line appears to be attracting consumers to the product. We note that unseasonably warm weather across the U.S. during February and March could help to drive consumers into stores earlier than last year. Reiterate Buy rating and $50 PT.”

Steve Madden closed yesterday at $44.00.