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Steven Madden Steps Up After Earnings Top Wall Street Forecasts

Rob Lenihan

climbed 3.78% to $34.02 Wednesday after the shoe designer beat Wall Street's fourth-quarter earnings expectations. The Long Island City, New York-based company reported fourth-quarter net income of $12.5 million, or 15 cents a share, down from $24.6 million, or 28 cents a share, a year ago. Retail net sales in the quarter rose 7.9% to $93 million, compared with $86.2 million a year ago.