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Steven Madden Ltd. on Thursday reported a first-quarter loss of $17.5 million, after reporting a profit in the same period a year earlier.
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The Long Island City, New York-based company said it had a loss of 22 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 16 cents per share.
STEVE MADDEN, ALICE+OLIVIA CEO SPAR OVER DESIGN-COPYING ALLEGATIONS
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.