Steven Madden, Ltd. (NASDAQ:SHOO) stock rose Wednesday after the footwear and accessories company reported first-quarter results that topped Wall Street estimates and raised its full-year sales outlook.

Strong Q1 Earnings Beat Expectations

The company reported adjusted first-quarter earnings of 45 cents per share, beating analysts' estimates of 39 cents. Quarterly revenue rose 18% year over year to $653.1 million, ahead of the Street consensus of $647.5 million.

Excluding the contribution from Kurt Geiger, revenue declined 4.8%, hurt by weakness in private-label operations and softer Steve Madden handbag sales in the U.S. wholesale channel.

Digital Sales And Brand Momentum Remain Strong

Digital performance remained strong during the quarter. Global search interest increased 27%, while U.S. direct-to-consumer comparable sales rose 17%. Global direct-to-consumer comparable sales increased 6%, or 10% excluding the Middle East.

Kurt Geiger continued to drive growth, with pro forma revenue rising 23% on strong handbag demand and steady footwear sales. Dolce Vita also posted solid results, aided by seasonal product offerings ...