The US-based designer and marketer of footwear and accessories has raised its full-year revenue guidance following strong sales growth in the first quarter, supported by continued momentum at Kurt Geiger
“We got off to a solid start to the year in the first quarter, with healthy underlying demand across our brands driven by compelling product assortments and strong marketing execution”, said Edward Rosenfeld, Chairman and Chief Executive Officer. “While earnings declined in the first quarter, we expect to return to earnings growth in the second quarter and deliver strong top- and bottom-line growth for the full year”.
First-Quarter Results
In the first quarter of the 2026 financial year, the company’s revenue increased by 18.0% compared to the same period of the last financial year, reaching 653.1 million US dollars.
The wholesale business contributed 443.6 million US dollars to Steve Madden’s total first-quarter revenue, representing a 1.0% year-on-year increase. However, excluding Kurt Geiger, wholesale revenue declined by 8.2%. Meanwhile, direct-to-consumer revenue reached 206.6 million US dollars, representing an 83.8% year-on-year increase. Excluding Kurt Geiger, direct-to-consumer revenue increased by 8.0%.
“The Steve Madden brand continued to gain momentum, as consumers responded favorably to our on-trend assortments, resulting in strong comps in our direct-to-consumer business and robust sell-through performance in wholesale. The Kurt Geiger London brand also delivered another strong quarter, with continued momentum across channels”, added Rosenfeld.
In the first quarter of this year, the company’s income from operations increased to 98.7 million US dollars, up from 53.5 million US dollars in the same period last year. However, adjusted income from operations decreased from 56.1 million US dollars to 46.3 million US dollars in the same period.
Net income attributable to Steve Madden in the first quarter was 71.8 million US dollars, or 1.00 US dollars per diluted share, compared to 40.4 million US dollars, or 0.57 US dollars per diluted share, in the same period of 2025. Adjusted net income was 32.1 million US dollars, or 0.45 US dollars per diluted share, compared to 42.4 million US dollars, or 0.60 US dollars per diluted share, in the same period of 2025.
Fiscal 2026 Outlook
The US-based company raised its full-year revenue guidance to 10 to 12% growth compared to the previous year. It has also introduced guidance on diluted earnings per share of between 2.55 and 2.65 US dollars, as well as guidance on adjusted diluted earnings per share of between 2.00 and 2.10 US dollars.
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