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Steve Madden Says Business ‘Weakened Materially’ as Revenue Slips Double Digits

Join McKinsey & Company, NewTimes Group, Arvind Limited, Asmara, Google, Bluesign, the Retail Prophet and more at Sourcing Journal’s Virtual Sourcing Summit, R/Evolution: Overhauling Fashion’s Outmoded Supply Chain, Oct 14 & 15.

Revenue was down and expenses were up in the first quarter as Steve Madden dealt with a wave of cancellations caused by the coronavirus pandemic. In a Nutshell: Operating expenses as a percentage of revenue for the footwear, apparel and accessories company rose to 41.8 percent, compared to 28.2 percent in the comparable period last…

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