Steven Madden, Ltd. (SHOO) SEC Filings & Earnings Calls

Integration risk from acquisitions

“The Kurt Geiger acquisition contributed significantly to revenue growth; integration risks remain.”

Foreign exchange exposure

“Accumulated other comprehensive loss includes foreign currency translation adjustments of $(8.5) million in H1 2026.”

Tariff impact on margins is a known risk, though mitigated in Q2 by higher ASPs and lower penetration of private label.

“Adjusted gross profit as a percentage of wholesale revenue was 35.2%, compared to 30.9% in the second quarter of 2025, due to higher average selling prices, a smaller negative impact from tariffs and a lower penetration of private label.” · word for word

Integration risk from acquisitions

“Acquisition of Kurt Geiger completed May 2025; joint ventures in Greater China, Australia, Malaysia”

Tariff policy uncertainty

“IEEPA tariff refund recognized but timing of cash receipts dependent on government process”

Foreign exchange risk

“Foreign currency translation adjustment loss of $11,130 in Q1 2026”

Adjusted net income declined 24.3% YoY due to higher operating expenses.

“Adjusted net income attributable to Steven Madden, Ltd. was $32.1 million, or $0.45 per diluted share, compared to $42.4 million, or $0.60 per diluted share, in the same period of 2025.” · word for word

Wholesale revenue ex-Kurt Geiger declined 8.2%, indicating organic weakness.

“Excluding Kurt Geiger, wholesale revenue declined 8.2%.” · word for word

Tariff disruption and uncertainty

“The most significant headwind we faced in 2025 was the impact of new tariffs, which created meaningful disruption throughout the year.” · word for word

Private label business pressure

“We expect strong growth in our three lead brands — Steve Madden, Kurt Geiger London, and Dolce Vita — while acknowledging ongoing pressure in our private label business” · word for word

Middle East conflict uncertainty

“as well as continued uncertainty related to tariffs and the conflict in the Middle East.” · word for word

Tariff Exposure

“The enactment of tariffs and the uncertainty surrounding their scope, duration, and applicable rates have materially increased, and may continue to materially increase our product costs and negatively impact our gross margins.” · word for word

China Sourcing Concentration

“In 2025, 56.1% of our total purchases were manufactured in China” · word for word

Acquisition Integration Risk

“The integration process involves complex operational, technological, and cultural challenges and could be more costly or time-consuming than anticipated.” · word for word

Goodwill Impairment Risk

“we recorded over $240,000 in goodwill and identifiable intangible assets on our Consolidated Balance Sheet.” · word for word

Tariff uncertainty leading to withheld EPS guidance

“Due to uncertainty related to recent developments with respect to tariff policy in the United States, the Company is not providing earnings guidance at this time.” · word for word

Private label business pressure

“we expect pressure on our private label business” · word for word

Higher SG&A from incentive compensation and salary restoration

“higher SG&A driven by the normalization of incentive compensation and the restoration of senior executive salaries” · word for word

Acquisition integration risk

“Kurt Geiger contributed $135.5M revenue but net loss of $15.3M in Q3 2025”

Leverage risk

“Long-term debt increased from $0 to $293.8M since Dec 2024”

Margin pressure from acquisitions

“Operating margin dropped from 11.9% to 4.7% YoY”

Tariff impact on imported goods significantly pressured margins and earnings.

“driven largely by the impact of new tariffs on goods imported into the United States” · word for word

Wholesale revenue decline ex-acquisition indicates underlying demand weakness.

“Excluding Kurt Geiger, wholesale revenue declined 19.0%.”