SHOO
Steven Madden, Ltd.43.73
-0.42-0.95%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Tariff chaos skips EPS guide
Q&A zeroed in on sudden tariff policy flux—Supreme Court rulings and administration moves—forcing EPS guidance suspension despite pre-call plans and firm revenue outlook, as demand stays visible. Private label details emerged: down to $355M in 2025 from $415M prior, eyeing ~20% drop to ~$285M in 2026, deemed temporary amid mass channel pullbacks. Sourcing shifted—China back to 40% from high-30s—boosted by Cambodia, Vietnam, Mexico, Brazil. KG margins hit 6.8% last year, targeting low double-digits soon; five U.S. stores planned. Branded momentum builds. China sourcing crept to 40%. Management stayed direct on risks, confident in core recovery.
Key Stats
Market Cap
3.18BP/E (TTM)
56.06Basic EPS (TTM)
0.78Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Steven Madden closed FY2025 with revenue up 11.0% to $2.53B, fueled by the May Kurt Geiger acquisition, though organic wholesale dipped from tariffs. Direct-to-consumer surged 53.7% to $846M on 399 stores and added concessions, yet posted a $34M operating loss from integration costs and inventory fair value hits. Gross margins held at 41.4% despite headwinds. Q4 saw steady $0.21/share dividends and $60M annual payouts, with $240M term debt and $85M buyback capacity. Backlog hit $674M. Kurt Geiger integration risks loom large.
8-K
Q4 revenue surges 29%; 2026 outlook
Steven Madden reported Q4 revenue up 29.4% to $753.7M, fueled by Kurt Geiger acquisition, though full-year operating income fell to $80.8M from $224.9M amid higher expenses. DTC revenue soared 79.9%, yet margins squeezed by tariffs. Board declared $0.21/share dividend, payable March 20. Expects 9-11% revenue growth in 2026. Kurt Geiger integration poses risks.
8-K
New president employment deal
Steven Madden inked a new three-year employment deal with President Amelia Newton Varela, effective January 1, 2026, through December 31, 2028, replacing her expired prior agreement. Base salary ramps from $825,000 in 2026 to $875,000 in 2028, plus $1.1M in restricted stock vesting over four years and EBIT-tied bonuses up to 80% of salary. Without cause termination triggers up to 12 months salary continuation. Deal locks in leadership continuity.
10-Q
Q3 FY2025 results
Steven Madden posted Q3 revenue up 6.9% y/y to $667.9M, fueled by Kurt Geiger's $135.5M contribution since its May 2025 close for $403.3M cash, yet organic sales dipped on tariffs while gross margin held 41.5%. Operating income fell to $31.4M from $74.6M as opex swelled to 36.8% of sales, reflecting DTC ramp-up and $10.7M acquisition costs; diluted EPS dropped to $0.29 from $0.77, confirmed vs 71.2M shares. Debt stands at $293.8M ($300M term loan/$250M revolver, due 2030) with $108.7M cash, $247M FCF not disclosed in the 10-Q. Integration hurdles loom large.
8-K
Q3 revenue up, margins squeezed
Steven Madden reported Q3 revenue up 6.9% to $667.9M, but operating income plunged to $31.4M (4.7% margin) from $74.6M (11.9%), hit by new U.S. tariffs and acquisition costs. DTC surged 76.6% with Kurt Geiger; wholesale dropped 10.7%. Board declared $0.21/share dividend, payable Dec 26. Q4 guides 27-30% revenue growth, EPS $0.30-$0.35. Tariffs sting hard.
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