* To expand presence in Canada
* Deal to add $0.05 to $0.07 to 2012 EPS
Jan 20 (Reuters) – Shoemaker Steve Madden
said it will buy its privately held Canadian licensee, SM
Canada, for $29 million in cash to expand its presence in the
region.
The transaction is expected to add 5-7 cents per share to
earnings in 2012, Steve Madden said in a statement.
SM Canada markets Steve Madden products in Canada and runs
seven Steve Madden-branded stores.
Long Island City, New York-based Steve Madden said it will
enhance its presence in major department and specialty stores
and expand the number of branded outlets in Canada.
SM Canada had sales of about $32 million for the year ended
July 2011, Steve Madden said.
In May last year, Steve Madden bought privately held Topline
Corp for $55 million.
Shares of the company had closed at $39.26 on Thursday on
the Nasdaq.
Source Article from http://www.reuters.com/article/2012/01/20/stevemadden-idUSL3E8CK36920120120
