SHOO - BTIG sees Steve Madden as a good fit for investors amid inflationary headwinds

Steve Madden (NASDAQ:SHOO) should provide opportunity for investors amid retail sector turmoil, per BTIG. The financial services firm’s managing director Camilo Lyon reported in a note to clients that a meeting with CEO Ed Rosenfeld reinforced his team’s bullishness on the stock despite macro headwinds. He explained that competitive advantages in inventory and supply chain improvements illuminated in the meeting should accelerate market share gains.  Lyon explained that the company’s recent production move to Mexico and Brazil for 50% of its footwear output is protecting it from the impacts of supply chain slowdowns for Asia-linked competitors. The confidence voiced by management in describing these developments only encouraged more optimism from the analysts on supply dynamics while demand remains resilient. “We have become increasingly encouraged by the rebound in dress footwear,” Lyon stated. “We also view the second leg of fashion spending as a benefit to [Steve Madden] (SHOO) as consumers

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BTIG sees Steve Madden as a good fit for investors amid inflationary headwinds