Steve Madden Kicks Off 2025 With 19% Revenue Surge
Steve Madden, the renowned famous footwear and accessories company, has reported a robust start to the year. Its first quarter revenue surged 19.1% year-over-year to $552.4 million, reaffirming its fiscal year outlook for revenue growth of 11% to 13%.
The company's wholesale accessories and apparel division led the growth, increasing by 78.6%. The wholesale shoes division also saw progress, growing by 4.7%. Excluding the Almost Famous brand, the wholesale business logged a 9.7% increase. Steve Madden's direct-to-consumer (DTC) revenue grew 12.8% to $112.3 million, ending five consecutive quarters of declines.
Steve Madden's diverse portfolio includes brands like Dolce Vita, Betsey Johnson, and its namesake steve madden. It licenses the shoes and handbag categories for Anne Klein. The company is seeing 'tangible progress' in non-footwear categories, DTC, and international markets. Wholesale in accessories and apparel, excluding Almost Famous, grew by 27.4%.
Steve Madden's Q1 results were boosted by a 21% rise in its wholesale business, to $438.2 million, largely due to the newly acquired Almost Famous brand. The company also marked a return to year-over-year revenue growth in the U.S. wholesale shoes business. With these positive trends, Steve Madden is on track to meet its fiscal year outlook.
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