US-based designer and marketer of fashion footwear and accessories Steven Madden, Ltd. has posted positive preliminary results for the first quarter.

Net sales are expected to increase by approximately 30% over last year to $108 million, driven by stronger than anticipated sales in the wholesale segment. Wholesale net sales have increased approximately 46%, including the contribution from recently acquired Daniel M. Friedman & Associates.

Preliminary retail sales decreased approximately 4%, while same store sales were down approximately 8% versus a 5.5% increase last year. The year-over-year decline in the retail business is primarily due to planned decreases in the accessories and men's categories as well as a reduction in promotional sales.

The company plans to report final first quarter results on May 2.