Steven Madden Ltd. said Tuesday that second-quarter earnings fell but still beat Wall Street expectations. The Long Island City, N.Y.-based footwear and accessories fi rm reported second-quarter earnings declined 27.6 percent to $7.6 million, or 43 cents a diluted share, from $10.5 million, or 49 cents a share, in the same period last year. Analysts on average expected earnings per share of 40 cents in the most recent quarter. Sales in the three months ended June 30 rose 0.9 percent to $109.3 million from $108.3 million. “While our performance in the second quarter once again reflected the ongoing weakness of the economy, we continued to build on our momentum from earlier in the year,” Edward Rosenfeld, interim chief executive officer, said during a conference call. The company’s Madden Girl and Daniel M. Friedman divisions both had strong sales growth year-to-year, but other brands such as Steve Madden Women’s and Steven were more affected by the “challenging environment,” Rosenfeld said. For the first half of the year, net income fell 51.5 percent to 9.7 million, or 51 cents a share, from $20 million, or 92 cents a share, in the previous year as sales slid 2.3 percent to $209.8 million from $214.9 million. The second-quarter results combined with the announcement of a Steven Madden-produced, Kimora Lee Simmons designed Fabulosity shoe line and an overall market surge to send shares of the shoemaker up on Tuesday. The company closed at $23.71, up 5.5 percent.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast