The American fashion provider Steve Madden has completed the 2024 financial year with a strong increase in sales. However, the profit was burdened by negative special effects.
This emerges from a current annual report, which the parent company Steven Madden Ltd. published on Wednesday. For 2025, the company, which is about the Kurt Geiger brand, is expecting two -digit sales growth again.
Last year, sales were $ 2.28 billion (2.17 billion euros), which meant an increase of 15.2 percent compared to 2023. Because the gross margin slightly gave way and the operating costs and one-off loads were higher than in the previous year, the operating result only grew by $ 5.5 percent to $ 224.9 million.
In the current year, sales should grow again in two digits
The net profit, which was due to the shareholders, shrank by 1.3 percent to $ 169.4 million (EUR 161.2 million) due to increased tax burdens and higher minority shares. However, adjusted for special effects, however, increased by 5.3 percent to $ 192.4 million.
For 2025, management expects sales growth by 17 to 19 percent. The target range for the watered profit per share, which was $ 2.35 last year, ranges from $ 2.30 to $ 2.40. According to the company, the forecasts are based on the assumption that Kurt Geiger’s takeover will be carried out on May 1st.