Steven Madden Q1 Net Income Soars 77.7%, DTC Sales Jump 83.8%
Steven Madden Ltd. reported Q1 net income of $71.8M, up 77.7%, with adjusted EPS of $0.45 beating forecasts and revenue of $653.1M, up 18%. Wholesale footwear sales rose 1% to $443.6M but fell 12% excluding Kurt Geiger, while direct-to-consumer revenue surged 83.8% to $206M.
1. Strong Q1 Financial Results
Steven Madden Ltd. delivered net income of $71.8 million in Q1, up 77.7% year-over-year, on revenue of $653.1 million, up 18%, with adjusted EPS of $0.45 surpassing forecasts.
2. Wholesale Segment Trends
Wholesale revenue rose 1% to $443.6 million, with gross margin at 49.2%. Excluding the Kurt Geiger brand, wholesale footwear sales declined 12% and accessories and apparel fell 0.5%, offsetting gains from higher average selling prices.
3. DTC Growth and Acquisition Impact
Direct-to-consumer revenue surged 83.8% to $206.0 million, boosted by the May 2025 acquisition of Kurt Geiger. Excluding Geiger, organic DTC sales grew 8.0% with adjusted gross margin improving to 60.8%.