Steven Madden resets projections following revenue miss
The brand, known for its accessible, fashion-forward designs and widespread wholesale distribution, had already withdrawn its annual forecast in May for similar reasons.
Steven Madden remains particularly exposed to shifting trade policies, given its long-standing reliance on Chinese manufacturing. In February, the company reduced the share of its U.S. imports from China to 58%, down from 71%. Executives expect this figure to fall further—to the mid-teens by autumn, and to the mid-single digits by spring 2026—excluding its recent acquisition of British footwear and accessories label Kurt Geiger.
In the second quarter, revenue reached $556 million, missing Bloomberg's analyst consensus of $576 million, largely due to underperformance in wholesale. Direct-to-consumer sales, however, exceeded expectations. Adjusted earnings per share stood at $0.20, falling short of the $0.24 estimate.
Shares declined 5% in Wednesday's premarket trading. Year-to-date, the stock is down 38% through Tuesday's close.
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