Steve Madden maintains cautious outlook as US implements new tariffs

steve madden shoes — Steve Madden maintains cautious outlook as the US implements new tariffs. (Source: Steve Madden/Facebook)

By Celene Ignacio February 28, 2025

Text Size

While Steve Madden expects its pending acquisition of Kurt Geiger to help drive revenue growth, it maintains a cautious near-term outlook due to anticipated impact of the Trump administration’s tariffs.

“Looking ahead, we are cautious on the near-term outlook, as we face meaningful headwinds in 2025, most notably the impact of new tariffs on goods imported into the US,” said Edward Rosenfeld, Steve Madden chairman and CEO.

Last year, the fashion brand’s attributable net income dipped 1.3 per cent to $169.4 million while net sales soared 15.3 per cent to $2.27 billion.

With its acquisition of Kurt Geiger to close on May 1, Steve Madden forecasts this year’s revenue to rise 17 per cent to 19 per cent.

“The Kurt Geiger London brand has exhibited exceptional growth over the last several years driven by its unique brand image, distinctive design aesthetic and compelling value proposition,” said Rosenfeld.