The American fashion provider Steve Madden was able to increase its sales in the second quarter of the 2025 financial year, but had to accept a high loss.
The result was burdened by “considerable challenges”, which “mainly imported the effects of new tariffs on the United States”, explained the parent company Steven Madden Ltd. In an interim report published on Wednesday.
Higher tariffs and negative special effects put a strain on the result
In the second quarter, which was completed on June 30, sales were $ 559 million (515 million euros), which corresponded to an increase of 6.8 percent compared to the previous year.
Due to a smaller gross margin and high special loads, which was carried out not least as part of the takeover of the British shoe and accessories brand Kurt Geiger at the beginning of May, the company recorded an operational loss of $ 40.3 million after it had achieved a company profit of $ 46.9 million in the same year. Adjusted for special effects, the operational result fell from $ 54.5 to $ 22.6 million.
The bottom line was a net loss of $ 39.5 million due to the shareholders (36 million euros). A surplus of $ 35.4 million was recorded in the same period in the previous year. The net profit shrank from 41.2 to $ 13.9 million for special effects.
CEO Rosenfeld sees Kurt Geiger as a future “growth engine”
Edward Rosenfeld, the company’s Chairman and CEO, commented on the current results. “As expected, the second quarter was a challenge due to the effects of the new tariffs on the United States,” he said in a statement. At the same time, he emphasized the team’s performance in the mitigation of these burdens and the company’s focus on long -term growth through convincing products and effective marketing.
He was also confident with a view to the ongoing integration of the newly acquired brand Kurt Geiger and found that it was “smooth”. The company is “more confident than ever” that Kurt Geiger “will be an important growth engine for the company in the coming years,” emphasized Rosenfeld.
According to the company, sales in the wholesale business in the second quarter fell by 6.4 percent to $ 360.6 million. Without Kurt Geiger’s first contribution, he dropped by 12.8 percent. In their own retail, however, proceeds rose by $ 43.3 percent to $ 195.5 million. Adjusted for Kurt Geiger’s proportion, however, he fell by three percent due to loss in stationary trade and e-commerce.
At the end of the quarter, the company claimed to have 392 own stores, including 98 outlets, as well as seven online platforms and 130 concession areas. Of this, 73 shops, two e-commerce websites and 72 concession areas were covered by Kurt Geiger.
This article was used with digital tools translated.
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