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Analysts Lower Guidance on Steve Madden Stock Due to Rumored Payless Bankruptcy

Stores are opening but will consumers return? Join Cushman & Wakefield and rue21 for the Retail in Recovery webinar June 17 at 2 pm ET.

Analysts at Canaccord Genuity, an investment banking and financial services firm, have lowered their guidance for Steve Madden stock (SHOO) due to the possibility the brand will lose sales as a result of a rumored bankruptcy at Payless. Reports of another Payless bankruptcy began to appear last week, and it would be the second time the…

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