Financial Services Roundup: Market Discussions
Financial Services Roundup: Market Discussions
Updated October 23, 2023 at 12:25 p.m. ET
The latest market discussions covering financial services. Exclusively on Dow Jones Newswires at 4:20 a.m. ET, 12:20 p.m. ET and 4:50 p.m. ET.
11:51 a.m. ET – Steven Madden’s $52 million acquisition of fashion brand Almost Famous should help it improve its performance after three straight quarters of revenue declines, Jefferies analysts say in a note. research. The clothing and fashion company is facing consumer-related issues amid more conservative spending habits, but its agile supply chain and healthy inventory should allow management to be able to adapt to the current macroeconomic context. Almost Famous fits into Steven Madden’s ecosystem as a high-value, low-cost business, the analysts add. Shares slipped 0.1% to $33.20. (sabela.ojea@wsj.com; @sabelaojeaguix)
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