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Steve Madden’s Wholesale Momentum Drives Q3

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Steve Madden’s Wholesale Momentum Drives Q3

Steven Madden Ltd. missed third quarter consensus on sales, but the company did raise outlook for fiscal 2026 revenue.

Steven Madden Ltd. beat Wall Street earnings forecasts for the third quarter on Thursday and raised its full-year forecast, though sales fell short of expectations.

For the three months ended Sept. 30, net income more than doubled to $52.4 million, or 72 cents a diluted share, from $20.5 million, or 29 cents, in the same year-ago period. On an adjusted basis, diluted earnings per share was 79 cents for the quarter. Total revenue rose 15.7 percent to $772.6 million from $667.9 million, which included a net sales increase of 15.7 percent to $767.9 million from $664.2 million. The balance of revenue was from licensing income.

Wall Street was expecting $776.9 million on adjusted diluted earnings per share (EPS) of 75 cents.

Revenue for the wholesale business rose 19.4 percent to $528.7 million, with wholesale footwear revenue up 21.0 percent. Wholesale accessories and apparel revenue gained 17.0 percent. For direct-to-consumer, revenue grew 8.0 percent to $239.2 million.

For the nine months, net income was $152.2 million, or $2.10, versus $24.4 million, or 30 cents, in the year-ago period. Total revenue grew 17.5 percent to $2.09 billion from $1.78 billion, which included a 17.4 percent increase in net sales to $2.08 billion from $1.77 billion.

“We delivered an outstanding third quarter, with strong growth across our brands and channels,” Edward Rosenfeld, chairman and chief executive officer, said.



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