Steve Madden has reported a slight increase in gross profit and revenue for the first quarter, after completing the acquisition of Kurt Geiger for $384 million in cash.

The company’s revenue rose by 0.2 per cent to $553.5 million, and its gross profit margin was 40.9 per cent, which is 2 per cent higher than the prior year.

However, operating income dropped by $3.2 million, a decrease of 0.6 per cent, and adjusted operating income also fell to $56.1 million, representing 10.1 per cent of revenue.

“Looking ahead, we face meaningful near-term headwinds and heightened uncertainty due to the impact of new tariffs on goods imported into the US,” said Edward Rosenfeld, chairman and CEO of Steve Madden.

“We are moving swiftly to adapt to the changing landscape, with a focus on mitigating near-term impacts while positioning the company for long-term growth.”

For the wholesale channel’s revenue and gross profit, the brand recorded a 0.2 per cent increase, reaching $439.3 million in revenue with a total profit of 35.7 per cent.

On May 6, the company acquired UK-based Kurt Geiger from Cinven, a private equity firm, for £289 million in cash and registered for a $300 million term loan facility and a $250 million revolving credit facility. 

The company refrained from providing an outlook for this year due to the uncertainty surrounding US tariffs on imported goods.