Steve Madden Q1 Revenue Rises 18% to $653.1M, Raises 2026 Guidance
SHOO•Steve Madden generated $653.1 million in Q1 revenue, up 18.0% year-over-year, while gross profit margin rose to 54.7% from 40.9%. It boosted fiscal 2026 revenue guidance to 10%-12%, set EPS guidance at $2.55–$2.65, reported net debt of $209.3 million and approved a $0.21 dividend.
1. First-Quarter Financial Results
Steve Madden reported revenue of $653.1 million for the first quarter, an 18.0% increase from $553.5 million a year earlier. Gross profit margin climbed to 54.7% from 40.9%, and net income rose to $71.8 million, or $1.00 per diluted share, versus $40.4 million, or $0.57 per share, in Q1 2025.
2. Channel Performance
Wholesale revenue reached $443.6 million, up 1.0% overall but down 8.2% excluding the Kurt Geiger acquisition, while direct-to-consumer sales surged 83.8% to $206.0 million, or 8.0% growth on an organic basis. Gross margins improved across both segments, and the company operated 387 retail stores and eight e-commerce sites.
3. Updated Guidance and Balance Sheet
The company lifted its full-year revenue growth outlook to 10%-12% and issued diluted EPS guidance of $2.55–$2.65, with adjusted EPS of $2.00–$2.10. It closed the quarter with $77.2 million in cash, $286.5 million in debt (net debt $209.3 million) and approved a quarterly dividend of $0.21 per share.
