Following a strong second quarter, Steve Madden has raised its forecast for fiscal year 2026 for the second time. The US footwear and accessories company's revenue rose 19,1 percent to $665,9 million in the three months ending June. The company benefited from the growth of its core Steve Madden brand as well as the acquisition of Kurt Geiger.
Direct-to-consumer (DTC) sales developed particularly dynamically: DTC revenues increased by 30,6 percent to US$255,4 million. Wholesale sales rose by 13 percent to US$407,5 million. Even without Kurt Geiger, both sales channels achieved double-digit growth.
“We achieved robust sales and earnings growth in the second quarter,” explained Chairman and CEO Edward Rosenfeld. The Steve Madden brand, in particular, continued to gain momentum. Dolce Vita also performed well, according to the company. Kurt Geiger recorded a comparable sales increase of twelve percent in its existing stores and is further expanding its US retail network.
Net income amounted to $27,7 million, compared to a loss of $39,5 million in the same quarter of the previous year. The gross margin improved significantly to 46,5 percent. Steve Madden now expects revenue growth of 11 to 13 percent for the full year, up from his previous forecast of 10 to 12 percent.
