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Steve Madden SHOO Profits Jump Disappoints on Margins--Shoe-Heaviest ETFs: XLYS, IJT
By Market News Video Staff, Tuesday, November 2, 1:21 PM ET
Shoemaker Steve Madden (NASDAQ:SHOO) posted a 29% increase in profits today, beating analyst estimates.
The stock is trading lower by 3.6% today, on narrower margins.
Fellow footwear designer Crocs (NASDAQ:CROX) is trading lower today, as well, while Skechers (NYSE:SKX) trades higher.
All three are in several ETFs together, including the S&P SmallCap Consumer Discretionary Portfolio (XLYS), making up about 4% of the total fund, which is trading up 1.3% Tuesday.
The three shoemakers together make up just over 1% of the iShares S&P SmallCap 600 Growth Index Fund (AMEX:IJT).
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