Steve Madden Sales Soar, Management Signals Confidence in Bankrupt Payless

Thanks to its robust wholesale business, Steve Madden has hit the ground running in fiscal 2017. The fashion footwear maker — and owner of Blondo, Schwartz & Benjamin, Betsey Johnson and other brands — produced first-quarter results that topped expectations across the board. The company said its sales during the period climbed 11.2 percent, to $366.4 million, surpassing analysts’ bets for sales of $359.5 million. Reported net income was $20.2 million, or 35 cents per diluted share,...

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