Steve Madden announces second acquisition in two days

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Steve Madden Ltd. said Tuesday that it has acquired BB Dakota, a California-based women's clothing company. BB Dakota was founded in 2005 and includes the namesake brand and Jack by BB Dakota in its portfolio. BB Dakota had sales of about $43 million for the 12-month period ending June 30, 2019. This is the second acquisition Steve Madden has announced in two days. On Monday, the company announced that it had purchased Greats, a Brooklyn-based sneaker company. Steve Madden stock is down 22% for the past year while the S&P 500 index is up 2.2% for the period.