Business
Steve Madden Announces First Quarter 2025 Results
Announces Completion of Acquisition of Kurt Geiger LONG ISLAND CITY, N.Y., May 07, 2025 (GLOBE NEWSWIRE) -- Steven Madden, Ltd. (Nasdaq: SHOO), a leading
About this update from Steven Madden, Ltd.
[{"type":"text","content":"Announces Completion of Acquisition of Kurt Geiger\nLONG ISLAND CITY, N.Y., May 07, 2025 (GLOBE NEWSWIRE) -- Steven Madden, Ltd. (Nasdaq: SHOO), a leading designer and marketer of fashion-forward footwear, accessories and apparel, today announced financial results for the first quarter ended March 31, 2025. Amounts referred to as “Adjusted” are non-GAAP measures that exclude the items defined as “Non-GAAP Adjustments” in the “Non-GAAP Reconciliation” section. First Quarter 2025 Results Revenue increased 0.2% to $553.5 million, compared to $552.4 million in the same period of 2024.Gross profit as a percentage of revenue was 40.9%, compared to 40.7% in the same period of 2024.Operating expenses as a percentage of revenue were 32.0%, compared to 29.8% in the same period of 2024. Adjusted operating expenses as a percentage of revenue were 30.8%, compared to 29.7% in the same period of 2024.Income from operations totaled $53.5 million, or 9.7% of revenue, compared to $56.7 million, or 10.3% of revenue, in the same period of 2024. Adjusted income from operations totaled $56.1 million, or 10.1% of revenue, compared to $61.0 million, or 11.0% of revenue, in the same period of 2024.Net income attributable to Steven Madden, Ltd. was $40.4 million, or $0.57 per diluted share, compared to $43.9 million, or $0.60 per diluted share, in the same period of 2024. Adjusted net income attributable to Steven Madden, Ltd. was $42.4 million, or $0.60 per diluted share, compared to $47.0 million, or $0.65 per diluted share, in the same period of 2024. Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We were pleased with our performance in the first quarter, as our team’s strong execution of our strategy enabled us to deliver earnings results that significantly exceeded expectations. Looking ahead, we face meaningful near-term headwinds and heightened uncertainty due to the impact of new tariffs on goods imported into the United States. We are moving swiftly to adapt to the changing landscape, with a focus on mitigating near-term impacts while positioning the company for long-term growth. We believe our agile business model – combined with our fortress balance sheet – gives us a competitive advantage in dynamic environments, and we are optimistic that the current disruption will create opportunities for market share gains over time. ...