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NEW YORK - Steve Madden Ltd. (NASDAQ:SHOO) reported first quarter earnings that beat expectations, but revenue fell short of analyst estimates on Wednesday.
The company’s shares were down 0.70% in premarket trading following the release.
The footwear and accessories company posted adjusted earnings per share of $0.60, surpassing the analyst consensus of $0.46. Revenue came in at $551.4 million, missing estimates of $556.3 million.
Revenue increased marginally by 0.2% YoY to $553.5 million. Gross profit margin improved slightly to 40.9% from 40.7% in the same period last year.
"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," said Edward Rosenfeld, Chairman and Chief Executive Officer.
The company completed its acquisition of UK-based Kurt Geiger on May 6, 2025, for an enterprise value of approximately £289 million in cash. Kurt Geiger had revenue of £400 million for the twelve months ended February 1, 2025.
Steve Madden withdrew its previously provided 2025 financial guidance due to macroeconomic uncertainty related to new tariffs on goods imported into the United States.
The company’s wholesale business revenue increased 0.2% to $439.3 million, while direct-to-consumer revenue decreased 0.2% to $112.1 million.
As of March 31, 2025, Steve Madden had cash, cash equivalents and short-term investments totaling $147.2 million and inventory of $238.6 million.
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