Loading...
•
Sep 30
Steve Madden Q3 2025 Earnings Report
Steve Madden reported lower operating and net income despite revenue growth in Q3 2025.
Key Takeaways
Steve Madden's Q3 2025 revenue rose to $667.9 million, but earnings and profitability fell due to higher operating costs and the impact of tariffs. The wholesale business declined while direct-to-consumer revenue surged, aided by the acquisition of Kurt Geiger.
Revenue reached $667.9 million, up 6.9% year-over-year.
Net income declined to $20.5 million from $55.3 million a year ago.
Direct-to-consumer revenue jumped 76.6%, driven by the Kurt Geiger acquisition.
Gross margin held steady overall, but weakened in wholesale and DTC channels due to new tariffs.
Steve Madden
Steve Madden
Steve Madden Revenue by Segment
Revenue by Segment
Wholesale Revenue
CapyFin.comDirect-to-Consumer Revenue
CapyFin.com Forward Guidance
Steve Madden expects stronger performance in Q4 2025 driven by easing tariff effects and growth from the Kurt Geiger acquisition.
Positive Outlook
- Revenue expected to increase 27% to 30% YoY in Q4 2025
- Diluted EPS expected between $0.30 and $0.35
- Adjusted diluted EPS expected between $0.41 and $0.46
- Improved demand trends for Steve Madden brand
- Tariff mitigation strategies in place for Q4
Challenges Ahead
- Tariffs impacted Q3 margins and remain a headwind
- Wholesale business declined sharply YoY
- Higher operating expenses affected profitability
- Direct-to-consumer gross margin decreased
- Earnings significantly below prior-year quarter
Revenue & Expenses
Visualization of income flow from segment revenue to net income