Steven Madden, Ltd.

stevemadden.com

What Do They Do?

Designs, sources and sells branded and private-label footwear, accessories and apparel to retailers. Also sells these products directly to shoppers through company-operated stores, concessions and websites.

How Do They Make Money?

Retailers pay for branded and private-label goods when products ship; shoppers pay in stores at purchase, at concessions, or after online delivery. Licensees pay royalties tied to sales or minimum royalties, which are generally received quarterly.

FY2025 revenue

Who Are Their Customers?

Retailers and distributors buy products for resale through wholesale; consumers buy from company-operated stores and websites and through concessions, including department-store concessions.

Do Revenues Turn Into Profits?

Yes. It kept 2 cents of every revenue dollar as net income in FY2025 and turned 5 cents into free cash flow.

Operating income, FY2025

3% of revenue

▼ −64% vs FY2024 ($224.9M, 10%)

Net income, FY2025

2% of revenue

▼ −72% vs FY2024 ($175.9M, 8%)

Free cash flow, FY2025

5% of revenue

▼ −31% vs FY2024 ($172.2M, 8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +19%; vs $559M in Q2 FY2025
Net income: ▲ Now profitable; vs −$38.7M in Q2 FY2025

Jul 30, 2026 Raised revenue and adjusted earnings guidance The fiscal 2026 revenue growth outlook rose to 11% to 13%; adjusted diluted EPS guidance rose to $2.05 to $2.15, while diluted EPS guidance stayed at $2.55 to $2.65.
May 6, 2026 Raised revenue guidance and introduced earnings guidance Fiscal 2026 revenue growth guidance was set at 10% to 12%, with diluted EPS guidance of $2.55 to $2.65 and adjusted diluted EPS guidance of $2.00 to $2.10.

Growing. Revenue grew 36% in 4 years, from $1.9B in FY2021 to $2.5B in FY2025, about 8% a year.

Added fashion brands The latest business description adds Kurt Geiger and Carvela footwear and accessories across wholesale and direct channels, following the acquisition of their parent business.

Expanded brand licensing The licensed-brand lineup now includes Kurt Geiger alongside Steve Madden and Betsey Johnson; the older report listed only Steve Madden and Betsey Johnson.

Buying-agent business The older report described commission-based buying-agent work for private-label footwear; the latest segment lineup names wholesale sales, direct-to-consumer sales and licensing instead.

Comments