Companies

Kurt Geiger drives revenue growth for Steve Madden at the end of 2025

Feb 26, 2026 United States

The US-based designer and marketer of footwear and accessories ended fiscal year 2025 with strong revenue growth in the fourth quarter, led by the recently acquired Kurt Geiger

“We are pleased to have delivered above guidance earnings results for the fourth quarter, driven by improved performance in our core Steve Madden footwear business as well as a strong contribution from the newly acquired Kurt Geiger”, said Edward Rosenfeld, Chairman and Chief Executive Officer.

Fourth Quarter Results

In the three months that ended on the 31^st of December 2025, Steve Madden reported a revenue of 753.7 million US dollars, an increase of 29.4% on a comparable basis to the same period of the previous year.

During the fourth quarter, the wholesale business contributed 433.3 million US dollars to total revenue, marking a 7.5% year-on-year increase. Excluding the recently acquired Kurt Geiger, wholesale revenue declined by 2.6%. Meanwhile, the direct-to-consumer business contributed 316.6 million US dollars, marking a 79.9% year-on-year increase. Excluding Kurt Geiger, direct-to-consumer revenue increased by 1.6%.

At the end of the quarter, the company operated 399 brick-and-mortar retail stores, including 98 outlets. It also had seven e-commerce websites and 133 concessions in international markets.

In the fourth quarter of the 2025 fiscal year, Steve Madden’s income from operations was 36.2 million US dollars, down from 46.7 million US dollars in the same period a year ago. Adjusted income from operations was 50.9 million US dollars, down from 52.6 million US dollars in the same period a year ago.

The company reported net income of 23.2 million US dollars (or 0.32 US dollars per diluted share) in the period, as compared to 34.8 million US dollars (or 0.49 US dollars per diluted share) in the fourth quarter of 2024. Adjusted net income stood at 34.3 million US dollars (or 0.48 US dollars per diluted share), as compared to 39.3 million US dollars (or 0.55 US dollars per diluted share) in the fourth quarter of 2024.

Full-Year Results

Steve Madden reported a revenue of 2.53 billion US dollars in the fiscal year 2025, which reflects an increase of 11.0%, on a comparable basis to the same period of the prior fiscal year.

Full-year net income attributable to the company was 44.7 million US dollars (or 0.63 US dollars per diluted share), as compared to 169.4 million US dollars (or 2.35 US dollars per diluted share) in 2024. Adjusted net income was 120.9 million US dollars (1.70 US dollars per diluted share), down from 192.4 million US dollars (or 2.67 US dollars per diluted share) in 2024.

2026 Outlook

For the 2026 financial year, Steve Madden expects revenue to increase by between 9% and 11% compared to 2025. “We are encouraged by the momentum building in our flagship Steve Madden brand and the opportunity for growth in Kurt Geiger London”, added Rosenfeld.

Nevertheless, “we expect pressure on our private label business as well as higher SG&A driven by the normalization of incentive compensation and the restoration of senior executive salaries”. Due to the current uncertainty surrounding tariff policy in the US, the company is also unable to provide earnings guidance at this time.

Image Credits: wwd.com

United States Fashion Footwear Kurt Geiger Quarter Results Results Steve Madden Year Results