期内，归属于Steven Madden,Ltd.的净利润为2050万美元，或每股摊薄收益0.29美元，2024年同期为5530 万美元，或每股摊薄收益0.77美元；调整后归属于Steven Madden,Ltd.的净利润为3040万美元，或每股摊 薄收益0.43美元，2024年同期为6480万美元，或每股摊薄收益0.91美元。 运营收入为3140万美元，占收入的4.7%；调整后运营收入为4630万美元，占收入的6.9%，2024年同期 为8540万美元，占收入的13.7%。 据Steve Madden2025年第三季度财务业绩显示，收入同比增长6.9%至6.679亿美元；毛利率为41.5%，与 2024年同期持平；调整后毛利率为43.4%，2024年同期为41.6%。 运营费用占收入比例为36.8%，2024年同期为28.6%；调整后运营费用占收入比例为36.4%，2024年同期 为27.9%。 (Steve Madden财报) ...

Steven Madden (SHOO) reported $667.88 million in revenue for the quarter ended September 2025, representing a year-over-year increase of 6.9%. EPS of $0.43 for the same period compares to $0.91 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $698.91 million, representing a surprise of -4.44%. The company delivered an EPS surprise of -2.27%, with the consensus EPS estimate being $0.44.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Financial Performance - Total revenue for Q3 2025 increased by 6.9% to $667,875 compared to $624,675 in Q3 2024, driven by the acquisition of Kurt Geiger[154] - Net income attributable to Steven Madden, Ltd. was $20,528 in Q3 2025, down from $55,278 in Q3 2024[154] - Diluted earnings per share for Q3 2025 was $0.29, compared to $0.77 in the same period last year[156] - Gross profit for Q3 2025 was $277,375, maintaining a gross margin of 41.5%, despite tariff-related impacts[161] - Income from operations for Q3 2025 decreased to $31,358, or 4.7% of total revenue, down from $74,578, or 11.9% in Q3 2024[163] - Total revenue for the nine months ended September 30, 2025 increased 4.7% to $1,780,409 compared to $1,700,609 in the prior year, primarily due to incremental revenue from the acquisition of Kurt Geiger[181] - Gross profit for the nine months ended September 30, 2025 was $729,669, or 41.0% of total revenue, down from $701,488, or 41.2% in the prior year, impacted by tariff-related issues[182] - Income from operations for the nine months ended September 30, 2025 was $44,599, or 2.5% of total revenue, significantly lower than $178,194, or 10.5% in the prior year[184] - Net income attributable to Steven Madden, Ltd. for the nine months ended September 30, 2025 was $21,474, compared to $134,589 in the prior year[185] Revenue Segmentation - Revenue from the Wholesale Footwear segment decreased by 10.9% to $266,543, representing 39.9% of total revenue, primarily due to tariff-related impacts[165] - Revenue from the Direct-to-Consumer segment surged by 76.6% to $221,505, driven by the acquisition of Kurt Geiger and expansion in brick-and-mortar stores[173] - Revenue from the Wholesale Footwear segment for the nine months ended September 30, 2025 was $782,827, or 44.0% of total revenue, down 5.9% from $832,000 in the prior year[186] - Revenue from the Direct-to-Consumer segment for the nine months ended September 30, 2025 was $529,071, or 29.7% of total revenue, an increase of 41.4% from $374,194 in the prior year[194] - Loss from operations for the Direct-to-Consumer segment for the nine months ended September 30, 2025 was $55,002, or (10.4)% of revenue, compared to income of $14,564, or 3.9% in the prior year[197] - Royalty income from the Licensing segment for the nine months ended September 30, 2025 was $8,737, or 0.5% of total revenue, up from $7,163, or 0.4% in the prior year[198] Expenses and Costs - Operating expenses for Q3 2025 rose to $246,017, or 36.8% of total revenue, compared to $178,915, or 28.6% in Q3 2024, primarily due to the acquisition of Kurt Geiger[162] - Operating expenses for the nine months ended September 30, 2025 were $687,145, or 38.6% of total revenue, compared to $507,343, or 29.8% in the prior year, largely due to acquisition-related costs[183] - Corporate operating expenses for Q3 2025 were $23,377, or 3.5% of total revenue, down from $25,065, or 4.0% in Q3 2024[179] - Corporate operating expenses were $80,070 million, representing 4.5% of total revenue, compared to $72,781 million or 4.3% in the prior year[200] Taxation - The effective tax rate for Q3 2025 was 17.4%, down from 25.5% in Q3 2024[154] - The effective tax rate for the nine months ended September 30, 2025 was 47.0%, compared to 24.3% in the prior year, primarily due to non-deductible expenses related to the acquisition of Kurt Geiger[184] Cash Flow and Investments - Cash, cash equivalents, and short-term investments totaled $108,862 as of September 30, 2025[157] - Working capital increased to $520,512 as of September 30, 2025, compared to $491,880 a year earlier[157] - Cash provided by operating activities decreased to $71,072 million from $94,245 million, primarily due to lower net income[210] - Cash used in investing activities totaled $392,861 million, mainly due to the acquisition of Kurt Geiger for $371,554 million[211] - Cash provided by financing activities was $237,540 million, primarily from net borrowings of $300,000 million[212] Acquisitions and Strategic Initiatives - The company acquired a 50% controlling interest in MG Distribution Hong Kong Limited to expand distribution in China, Hong Kong, and Macau[145] - The company completed the acquisition of Kurt Geiger for a preliminary purchase price of $403,348 million on May 6, 2025[203] - Strategic initiatives include expanding international markets and growing non-footwear categories[155] Dividends and Borrowings - A quarterly cash dividend of $0.21 per share was approved, payable on December 26, 2025[216] - The company has outstanding borrowings of $277,500 million under its senior secured term loan facility, with interest rates subject to market fluctuations[220]

Group 1 - The investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective [1] - The approach emphasizes understanding the long-term earnings power of companies and the competitive dynamics of their industries [1] - Most recommendations will be holds, indicating a cautious stance in a bullish market [1] Group 2 - The articles aim to provide important information for future investors while maintaining a healthy skepticism [1] - A very small fraction of companies are considered a buy at any point in time, highlighting a selective investment approach [1]

Investors might want to bet on Steven Madden (SHOO) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.The upward trend in estimate revisions for this footwear and accessories retailer reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong co ...

Key Takeaways Steven Madden's Q3 EPS dropped 52.7% year over year, missing the consensus by 1 cent.Revenues climbed 6.9% to $667.9 million, supported by Kurt Geiger and direct-to-consumer growth.SHOO expects Q4 revenues to be up 27-30% and stronger sales momentum across footwear categories.Steven Madden, Ltd. (SHOO) reported third-quarter 2025 results, wherein the top and bottom lines lagged the Zacks Consensus Estimate. Total revenues increased, while earnings decreased from the year-ago period.However, th ...

Fortunately, while we will continue to see negative impacts from tariffs, we believe the worst is behind us. Order patterns from our wholesale customers are normalizing, and we are mitigating a larger percentage of the gross margin pressure through strategic pricing actions and sourcing initiatives. Most importantly, underlying consumer demand for our brands and products is strong. Despite the noise from tariffs, our team has stayed laser-focused on executing our strategy to deepen consumer connections thro ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q3 2025 was $667.9 million, a 6.9% increase compared to Q3 2024. Excluding Kurt Geiger, revenue decreased by 14.8% [9] - Net income attributable to Steve Madden Ltd. for the quarter was $30.4 million, or $0.43 per diluted share, compared to $64.8 million, or $0.91 per diluted share in Q3 2024 [13] - Operating income for the quarter was $46.3 million, or 6.9% of revenue, down from $85.4 million, or 13.7% of revenue in the prior year [12] Business Line Data and Key Metrics Changes - Wholesale revenue was $442.7 million, down 10.7% compared to Q3 2024. Excluding Kurt Geiger, wholesale revenue decreased by 19% [9] - Direct-to-consumer (DTC) revenue increased by 76.6% to $221.5 million. Excluding Kurt Geiger, DTC revenue increased by 1.5% [9] - Wholesale footwear revenue was $266.5 million, a 10.9% decrease from the comparable period in 2024, or down 16.7% excluding Kurt Geiger [9] Market Data and Key Metrics Changes - Comp sales for the Kurt Geiger brand were up mid-teens in Q3 2025, indicating strong consumer response [6] - The company ended the quarter with 397 company-operated retail stores, including 99 outlets, and 7 e-commerce websites [10] Company Strategy and Development Direction - The company is focused on deepening consumer connections through compelling products and effective marketing, particularly for the Steve Madden brand [5] - The acquisition integration of Kurt Geiger is on track, with progress on revenue synergies and cost savings opportunities [7] - The company plans to open a handful of stores in the U.S. for Kurt Geiger next year and expects growth in both retail and wholesale channels [29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by new tariffs but believes the worst is behind them, with order patterns from wholesale customers normalizing [4] - The company expects revenue to increase by 27%-30% in Q4 2025 compared to Q4 2024, with earnings per share projected in the range of $0.41-$0.46 [14] - Management expressed confidence in improved financial performance in Q4 and the long-term growth potential of their brands and business model [8] Other Important Information - Consolidated gross margin was 43.4%, up from 41.6% in the comparable period of 2023, primarily due to the higher mix of DTC from Kurt Geiger [10] - The company approved a quarterly cash dividend of $0.21 per share, payable on December 26, 2025 [14] Q&A Session Summary Question: How is the fashion developing this fall and inventory levels in the wholesale channel? - Management noted strong performance in the core Steve Madden women's shoe business, particularly in boots, and expressed confidence in spring prospects [17][18] Question: What is the expected revenue contribution from Kurt Geiger in Q4? - Management expects Kurt Geiger's revenue contribution to be between $182 million and $187 million, with over 70% coming from DTC [20][21] Question: How is the margin structure expected to recover? - Management believes all margin erosion is recoverable over time, with tariffs expected to be reflected in retail prices [64][65] Question: What is the outlook for the wholesale business by type? - Management indicated the strongest performance is in regular price channels, while value price channels have faced more pressure [85] Question: How is Kurt Geiger performing by region? - Kurt Geiger is growing in all core regions, including the U.K., U.S., and Europe [42] Question: What are the expectations for international brand growth? - Management anticipates high single-digit revenue growth for Steve Madden internationally in 2025 and strong double-digit growth for Kurt Geiger [73]

Financial Data and Key Metrics Changes - Consolidated revenue for Q3 2025 was $667.9 million, a 6.9% increase compared to Q3 2024. Excluding Kurt Geiger, revenue decreased by 14.8% [9] - Wholesale revenue was $442.7 million, down 10.7% compared to Q3 2024, with a 19% decrease when excluding Kurt Geiger [9] - Direct-to-consumer revenue increased by 76.6% to $221.5 million, with a 1.5% increase when excluding Kurt Geiger [9] - Net income attributable to Steve Madden Ltd. was $30.4 million, or $0.43 per diluted share, compared to $64.8 million, or $0.91 per diluted share in Q3 2024 [13] Business Line Data and Key Metrics Changes - Wholesale footwear revenue was $266.5 million, a 10.9% decrease from Q3 2024, or down 16.7% excluding Kurt Geiger [9] - Wholesale accessories and apparel revenue was $176.2 million, down 10.3% compared to the prior year, or down 22.5% excluding Kurt Geiger [9] - Direct-to-consumer gross margin was 61.9%, down from 64% in the comparable period in 2024 due to tariff pressures and the addition of Kurt Geiger [11] Market Data and Key Metrics Changes - Comp sales for Kurt Geiger London were up mid-teens in Q3 2025, indicating strong consumer response [6] - The company operated 397 retail stores, including 99 outlets, and 7 e-commerce websites as of the end of the quarter [10] Company Strategy and Development Direction - The company is focused on deepening consumer connections through compelling products and effective marketing, particularly for the Steve Madden brand [5] - Strategic pricing actions and sourcing initiatives are being implemented to mitigate gross margin pressure [5] - The integration of Kurt Geiger is on track, with progress on revenue synergies and cost savings opportunities [7] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by new tariffs but expressed confidence that the worst is behind them [4] - There is optimism for improved financial performance in Q4 2025, with expectations of revenue growth of 27%-30% compared to Q4 2024 [14] - Management believes they have the brands and strategy to drive sustainable revenue and earnings growth over the long term [8] Other Important Information - The company declared a quarterly cash dividend of $0.21 per share, payable on December 26, 2025 [14] - Inventory at the end of the quarter was $476 million, compared to $268.7 million in Q3 2024 [13] Q&A Session Summary Question: How is the fashion developing this fall and what are the inventory levels in the wholesale channel? - Management noted strong performance in the core Steve Madden women's shoe business, particularly in boots, and expressed confidence in spring prospects [17][18] Question: What is the expected revenue contribution from Kurt Geiger in Q4? - Management expects Kurt Geiger's revenue contribution to be between $182 million and $187 million, with over 70% coming from DTC [20][21] Question: How is the margin structure expected to recover? - Management believes all margin erosion is recoverable over time, with expectations to return to pre-tariff margins eventually [64][65] Question: What is the performance outlook for wholesale channels? - Strongest performance is seen in regular price channels, while value price channels have faced more pressure [85] Question: How is the international growth outlook for Steve Madden and Kurt Geiger? - Steve Madden is expected to see high single-digit revenue growth internationally, while Kurt Geiger is anticipated to achieve strong double-digit growth [73]

Financial Data and Key Metrics Changes - Consolidated revenue for Q3 2025 was $667.9 million, a 6.9% increase compared to Q3 2024. Excluding the newly acquired Kurt Geiger, consolidated revenue decreased by 14.8% [9] - Net income attributable to Steve Madden Ltd. for the quarter was $30.4 million, or $0.43 per diluted share, compared to $64.8 million, or $0.91 per diluted share in Q3 2024 [12] - Operating income for the quarter was $46.3 million, or 6.9% of revenue, compared to $85.4 million, or 13.7% of revenue in the comparable period in the prior year [11] Business Line Data and Key Metrics Changes - Wholesale revenue was $442.7 million, down 10.7% compared to Q3 2024. Excluding Kurt Geiger, wholesale revenue decreased by 19% [9] - Direct-to-consumer (DTC) revenue increased by 76.6% to $221.5 million. Excluding Kurt Geiger, DTC revenue increased by 1.5% [9] - Wholesale footwear revenue was $266.5 million, a 10.9% decrease from the comparable period in 2024, or down 16.7% excluding Kurt Geiger [9] Market Data and Key Metrics Changes - Comp sales for the new brand, Kurt Geiger London, were up mid-teens in Q3 2025, indicating strong consumer response [6] - The company ended the quarter with 397 company-operated retail stores, including 99 outlets, and 7 e-commerce websites [10] Company Strategy and Development Direction - The company is focused on deepening consumer connections through compelling products and effective marketing, particularly for the Steve Madden brand [5] - The acquisition integration of Kurt Geiger is on track, with progress on revenue synergies and cost savings opportunities [7] - The company plans to open a handful of stores in the U.S. for Kurt Geiger next year and is working on expanding its international presence [28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in Q3 due to new tariffs on imports but expressed confidence that the worst is behind them [4] - The company expects revenue to increase by 27%-30% in Q4 2025 compared to Q4 2024, with earnings per share projected to be in the range of $0.41-$0.46 [13][14] - Management believes that the underlying consumer demand for their brands remains strong despite tariff-related challenges [5] Other Important Information - The company declared a quarterly cash dividend of $0.21 per share, payable on December 26, 2025 [13] - Inventory at the end of the quarter was $476 million, compared to $268.7 million in Q3 2024 [12] Q&A Session Summary Question: How is the fashion developing this fall and what are the inventory levels in the wholesale channel? - Management noted strong performance in the core Steve Madden women's shoe business, particularly in boots, and expressed confidence in spring prospects [16][18] Question: What is the expected revenue contribution from Kurt Geiger in Q4? - Management expects Kurt Geiger's revenue contribution to be between $182 million and $187 million, with over 70% coming from DTC [19][20] Question: How is the handbag business performing and what are the expectations for apparel? - The handbag business is expected to stabilize as demand improves, while apparel has been a growth story with good sell-throughs in key accounts [46][47] Question: What is the outlook for wholesale performance by channel? - Strongest performance is seen in regular price channels, while value price channels like off-price and mass have faced more pressure [82] Question: How is the company addressing margin recovery? - Management believes that all margin erosion is recoverable over time, with expectations to return to pre-tariff margins in the core business [64]