Steve Madden Q3 profit rises on wholesale strength, lifts 2026 revenue growth outlook

Overview

• US fashion footwear firm's Q3 revenue rose 16% yr/yr but missed analyst expectations

• Adjusted EPS for Q3 rose to $0.79 from $0.43 a year earlier

• Company raised full-year revenue and adjusted EPS outlook

Outlook

• Steven Madden raises fiscal 2026 revenue growth outlook to 12%-13% from 11%-13%

• Company expects fiscal 2026 diluted EPS of $2.58-$2.63, narrowing prior $2.55-$2.65 range

• Steven Madden lifts fiscal 2026 adjusted diluted EPS outlook to $2.15-$2.20 from $2.05-$2.15

Result Drivers

• STEVE MADDEN BRAND - Co said trend-focused product assortments and marketing for the Steve Madden brand drove strong momentum

• WHOLESALE GROWTH - Wholesale footwear and accessories/apparel revenue rose 21% and 17% respectively, supporting overall revenue growth

• WHOLESALE MARGIN IMPROVEMENT - Co said higher wholesale gross margin reflected underlying improvement and smaller negative impact from tariffs, partly offset by higher freight costs

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the footwear peer group is "buy"

• Wall Street's median 12-month price target for Steven Madden, Ltd. is $55.00, about 17.1% above its November 4 closing price of $46.98

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 18 three months ago

Reuters Recommended Reads

• Nov 5 - Tapestry lifts annual forecasts as young shoppers snap up Coach bags

• Nov 3 - Bata India's quarterly profit jumps 30% on strong footwear demand

• Nov 4 - UK's Marks and Spencer interim revenue, profit beat estimates

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)