Companies

Steve Madden projects fourth quarter rebound

Nov 7, 2025 United States

The US-based designer and marketer of footwear reported modest revenue growth in the third quarter as new import tariffs and higher costs weighed on margins, though demand for its core collections remained strong

“As anticipated, the third quarter was challenging, driven largely by the impact of new tariffs on goods imported into the United States. That said, we are pleased with the underlying demand for our brands and products. Consumers have responded favorably to our Fall assortments, particularly in our flagship Steve Madden brand”, shared Edward Rosenfeld, Chairman and Chief Executive Officer at Steve Madden.

“The improved trend in Steve Madden”, he continues, “together with our tariff mitigation strategies and the contribution from our recent acquisition Kurt Geiger, positions us to deliver stronger financial results beginning in the fourth quarter”.

Steven Madden reported third-quarter 2025 results for the period that ended on the 30th of September. Revenue increased by 6.9% from the same period in 2024, reaching 667.9 million US dollars.

The company maintained a gross profit margin of 41.5%, consistent with last year, while adjusted gross profit improved to 43.4%. In contrast, higher operating expenses weighed on profitability, with income from operations dropping to 31.4 million from 74.6 million US dollars a year earlier. Net income totalled 20.5 million US dollars, or 0.29 US dollars per diluted share.

Channel Results

The wholesale business generated revenue of 442.7 million US dollars, reflecting a 10.7% year-over-year decline. Excluding the recently acquired British luxury brand Kurt Geiger, wholesale revenue fell by 19%.

In contrast, the direct-to-consumer (DTC) segment saw robust growth, with revenue up by 76.6% compared to the same quarter in 2024, primarily driven by the integration of Kurt Geiger’s concession business. Excluding this acquisition, DTC revenue rose by 1.5%.

Both the footwear and accessories categories were affected by lower demand and new tariffs on imported goods. The company attributed part of this decrease to cost pressures linked to global trade conditions and the ongoing rebalancing of retail inventories.

By the end of September 2025, Steve Madden operated 397 retail stores, including 99 outlets, alongside seven e-commerce sites and 133 international concessions.

Guidance

Looking ahead, management expressed confidence in a stronger fourth quarter, projecting revenue growth of 27% to 30% year-over-year.

Diluted earnings per share (EPS) are expected to range between 0.30 and 0.35 US dollars, while adjusted diluted EPS are forecast between 0.41 and 0.46 US dollars, reflecting the company’s expectation of improved margins and operational efficiencies.

Image Credits: en.wikipedia.org

United States Companies Footwear Quarter Results Results Steve Madden