Overview
- Steven Madden, which reported first‑quarter results Wednesday, posted revenue of $653.1 million up 18% with net income of $71.8 million and adjusted earnings of 45 cents per share that topped forecasts.
- Direct‑to‑consumer sales jumped 83.8% to $206.0 million as online and store demand strengthened, with growth of 8.0% when excluding the acquired Kurt Geiger business.
- Wholesale revenue inched up 1% to $443.6 million, though sales fell 8.2% when excluding Kurt Geiger, and wholesale footwear declined 5.8% overall.
- Profitability improved as pricing and mix lifted margins, with adjusted wholesale gross margin rising to 39.2% from 35.7% and adjusted direct‑to‑consumer gross margin edging up to 60.8%.
- The company raised its 2026 revenue outlook to growth of 10% to 12% and issued first‑ever diluted EPS guidance of $2.55 to $2.65, or $2.00 to $2.10 on an adjusted basis, while signaling Q2 earnings growth without giving a numeric forecast.