Steven Madden Reports Q1 2025 Earnings, Completes Kurt Geiger Acquisition

Steven Madden reported first quarter 2025 earnings that exceeded analyst expectations, with adjusted earnings per share of $0.60 surpassing forecasts, though revenue of $553.5 million slightly missed consensus estimates. Gross profit margin improved to 40.9%, but net income decreased year over year, and direct-to-consumer revenue declined slightly while wholesale saw a modest increase. The company completed its acquisition of UK-based Kurt Geiger for approximately £289 million, a strategic move expected to enhance growth, especially in international markets and direct-to-consumer channels. In response to new tariffs on U.S. imports, Steven Madden accelerated its shift in production away from China and leveraged supplier relationships to mitigate near-term impacts. Due to the uncertainty from these tariffs, the company withdrew its 2025 financial guidance. Despite near-term headwinds, management remains optimistic about long-term prospects, citing an agile business model and strong cash position.