0934 ET - Steven Madden is positioned to benefit from a trend shift towards women's dress shoes, Williams Trading analyst Sam Poser says, as he upgrades the shoe brand's stock to buy from hold. Fashion sneakers have been strong sellers for Steven Madden over the past couple of years, but higher priced heels are starting to grow in popularity. "Now, it appears as if women looked in their closets, realized they had no new dress shoes," Poser says. New dress shoes have retail price points 30% to 70% above most of Steven Madden's fashion sneakers, he says. The company's dress shoes also have a stronger price-value relationship compared with luxury designer brands. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
June 09, 2025 09:34 ET (13:34 GMT)
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