Tariffs weigh on Steve Madden’s Q2 performance
US shoe group Steve Madden has reported a sharp drop in adjusted earnings for the second quarter of 2025, citing the impact of new US import tariffs.
Adjusted net income fell to $13.9 million, or $0.20 per diluted share, below analysts’ expectations of $0.24 and down from $41.2 million ($0.57) a year earlier.
Revenue rose 6.8% year on year to $559 million, missing the consensus estimate of $576.6 million. The company posted a net loss of $39.5 million, compared to net income of $35.4 million in Q2 2024. Adjusted income from operations fell to $22.6 million from $54.5 million.
Wholesale revenue dropped 6.4% to $360.6 million, and 12.8% excluding the newly acquired Kurt Geiger business. Direct-to-consumer revenue rose 43.3% to $195.5 million but declined 3.0% without Kurt Geiger.
CEO Edward Rosenfeld said the company remains focused on long-term growth despite short-term tariff pressures.
