It’s not all gloom and doom at department stores — at least not for Steve Madden.
The accessories designer is rising to the top of the shoe heap, selling more women’s fashion sneakers than most of his competitors at Nordstrom, Macy’s, Bloomingdales, Lord & Taylor and Dillards this year, per a Wall Street analyst.
“They have a very unique test-and-react model, which allows them to stay close to the trends,” CL King & Associates analyst Steven Marrotta told On the Money’s Lisa Fickenscher. Madden’s “fashion is better and more in tune with what the customer wants.”
Call it fast fashion without the rock-bottom prices.