US-based designer, wholesaler and retailer of fashion footwear and accessories Steven Madden, Ltd. has posted reduced sales for the second quarter, ended June 30 as net sales fell to $108.3 million from $129.5 million in the comparable period of the prior year.

Revenues also declined in both its wholesale and retail divisions. Revenues from the wholesale business fell to $78.6 million compared with $96.2 million in the second quarter of 2006. This was principally attributed to softer sales in Daniel M. Friedman & Associates, Candie's and Steve Madden Men's, as well as the discontinuation of the Rule, l.e.i and Jump brands. Retail revenues dropped to $29.6 million from $33.3 million as same store sales decreased 13% versus an increase of 3.0% in the same prior-year period.

For the first six months, net sales slipped to $214.9 million from $237.8 million.

Commenting on the decline in sales, chairman and CEO Jamieson Karson said, "We experienced a challenging sales environment during the second quarter which, combined with a lack of big fashion trends, negatively impacted the performance of certain segments of our wholesale division as well as our retail division."