Steve Madden, a footwear, accessories and apparel retailer, increased its revenue rate by $553.53 million in the first quarter of fiscal 2025 (FY25), compared with $555.2 million in the corresponding quarter last year.

The company's wholesale segment revenue grew 0.2%, while direct consumers' revenue fell 0.2%.

Steve Madden has physical operations with 314 retail stores and five e-commerce platforms for the quarter ended March 31, 2025. The brand operates 61 discounts internationally.

The company's gross profit increased to $226.2 million in the first quarter of fiscal 25, from $224.82 million in the same quarter of the previous year. Its gross margin also improved to 40.9%, compared with 40.7% in the first quarter fiscal 24th.

However, operating expenses of revenue as a percentage of revenue rose to 32.0% from 29.8% in the same period in 2024.

Steve Madden's revenue fell from operations to $53.49 million, from $56.75 million in Q1 report.

Net income attributable to the company also fell to $40.42 million, or $0.57 per diluted share, compared with $43.94 million per share recorded in the same period of the previous year, or $0.60 per share.

“We are happy with the performance in the first quarter because the strong execution of our team’s strategy allows us to deliver revenue results that are significantly greater than expected,” said Edward Rosenfeld, chairman and CEO of Steve Madden.

In view of economic uncertainty and new tariffs affecting imports to the United States, Steve Madden withdrew its 2025 financial guidance originally issued on February 26, 2025 and avoided providing current guidance.

Rosenfeld added: “We are facing meaningful near-term headwinds and increasing uncertainty due to the impact of the new tariffs on goods imported into the United States. We are taking quick action to adapt to the changing landscape with a focus on mitigating the near-term impact while placing the company in the long-term growth side,” Rosenfeld added.

Steve Madden recently completed its previously announced acquisition of Kurt Geiger, UK-based, with a corporate value of £289 million.

"Steve Madden reports revenue for the first quarter of FY25 and withdraws the guide" was originally created and published by the global equity brand retail Insight Network.

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