Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Steven Madden (SHOO - Free Report) , which belongs to the Zacks Shoes and Retail Apparel industry, could be a great candidate to consider.
This footwear and accessories retailer has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 5.75%.
For the most recent quarter, Steven Madden was expected to post earnings of $0.42 per share, but it reported $0.45 per share instead, representing a surprise of 7.14%. For the previous quarter, the consensus estimate was $0.46 per share, while it actually produced $0.48 per share, a surprise of 4.35%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Steven Madden. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Steven Madden has an Earnings ESP of +13.68% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on July 30, 2026.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
On July 23, 2026, Steven Madden Ltd (SHOO) shares fell 3.2% to a current price of $42.11, marking a decline of 3.6% over the past week and a slight decrease of
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Steven Madden (SHOO - Free Report) , a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Steven Madden currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for SHOO that show why this footwear and accessories retailer shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For SHOO, shares are up 3.36% over the past week while the Zacks Shoes and Retail Apparel industry is up 0.1% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 2.88% compares favorably with the industry's 0.05% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of Steven Madden have risen 17.69%, and are up 61.15% in the last year. In comparison, the S&P 500 has only moved 5.37% and 20.16%, respectively.
Investors should also pay attention to SHOO's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. SHOO is currently averaging 1,112,359 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with SHOO.
Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. This revision helped boost SHOO's consensus estimate, increasing from $2.09 to $2.10 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom LineTaking into account all of these elements, it should come as no surprise that SHOO is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Steven Madden on your short list.
Steven Madden (SHOO - Free Report) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
Therefore, the Zacks rating upgrade for Steven Madden basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Steven Madden, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for Steven MaddenThis footwear and accessories retailer is expected to earn $2.10 per share for the fiscal year ending December 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for Steven Madden. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.6%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Steven Madden to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Steven Madden (SHOO - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on July 30, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis footwear and accessories retailer is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +60%.
Revenues are expected to be $629.57 million, up 12.6% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Steven Madden?For Steven Madden, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +13.68%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that Steven Madden will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Steven Madden would post earnings of $0.42 per share when it actually produced earnings of $0.45, delivering a surprise of +7.14%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Steven Madden appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Key Takeaways Steven Madden raised fiscal 2026 revenue growth guidance to 10-12% and introduced adjusted EPS guidance.SHOO's DTC revenues jumped 83.8%, with 8% growth excluding Kurt Geiger and 17% U.S. comparable sales.Kurt Geiger posted 23% pro forma revenue growth and expanded with new U.S. stores and an India agreement. Steven Madden, Ltd. (SHOO - Free Report) continues to strengthen its growth profile through robust direct-to-consumer (DTC) performance and the continued success of the Kurt Geiger brand. In the first quarter of 2026, the company delivered healthy consumer demand across its portfolio, with strong execution in product innovation and marketing helping offset ongoing softness in its private-label business. Management believes these strengths position the company for improved earnings and sustainable long-term growth.
Steven Madden's DTC business posted another strong quarter. Revenues increased 83.8% year over year to $206 million, primarily reflecting the addition of Kurt Geiger. Excluding the acquisition, DTC revenues still rose 8%, driven by growth across both brick-and-mortar stores and e-commerce. The Steven Madden brand delivered a 17% increase in U.S. comparable sales, supported by exceptional performance in full-price channels. Global DTC comparable sales increased 6%, or by 10% excluding stores in the Middle East. Management also highlighted reduced promotional activity, improving outlet performance and stronger customer engagement as positive trends during the quarter.
The company's product and marketing strategy continued to support DTC momentum. The Steven Madden brand gained traction across casual shoes, dress shoes and boots, benefiting from consumer interest in split toes, mesh, ballet-inspired styles, hidden wedges and Velcro designs. The "Hello Spring" campaign featuring Delilah Belle, combined with a full-funnel marketing approach, boosted customer acquisition and increased online searches for the Steven Madden brand by 27% during the quarter. Management reiterated its expectation for mid- to high-single-digit revenue growth for the Steven Madden brand in fiscal 2026.
Kurt Geiger exceeded expectations during the quarter. The brand generated 23% pro forma revenue growth, driven by continued strength in handbags, footwear and digital channels. Steven Madden secured leases for four new full-price stores and one premium outlet in the United States during 2026 while signing a franchise and distribution agreement with Reliance Brands to launch Kurt Geiger in India beginning in the fourth quarter. Reflecting the brand's strong momentum, management raised its full-year expectation for Kurt Geiger to deliver mid-teens pro forma revenue growth.
Encouraged by strong trends across its key brands, Steven Madden raised its fiscal 2026 revenue growth guidance to 10-12% from the prior 9-11% range and introduced adjusted earnings per share guidance of $2.00-$2.10. Management expects the combination of strong DTC demand, Kurt Geiger's continued expansion and healthy momentum across its branded portfolio to support strong top and bottom-line growth for the remainder of fiscal 2026.
SHOO’s Price Performance, Valuation & EstimatesShares of the company have risen 69.7% over the past year against the industry’s 34% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, Steven Madden is trading at a trailing 12-month price-to-sales ratio of 1.18, down from the industry average of 1.33.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Steven Madden’s 2026 earnings implies year-over-year growth of 22.9%, whereas the same for 2027 indicates an uptick of 33.8%. Estimates for 2026 and 2027 have been revised upward by 3 cents and 16 cents, respectively, over the past 60 days.
Image Source: Zacks Investment Research
SHOO’s Zacks Rank & Other Key PicksSteven Madden currently sports a Zacks Rank #1 (Strong Buy).
Genesco Inc. (GCO - Free Report) is a Nashville-based specialty retailer and branded company. It sells footwear and accessories through retail stores. The company flaunts a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Genesco’s current fiscal-year earnings indicates growth of 55.2% from the year-ago actuals. GCO delivered a trailing four-quarter average earnings surprise of 3.8%.
Designer Brands Inc. (DBI - Free Report) designs, produces and retails footwear and accessories. It offers shoes, boots, sandals, sneakers, socks, handbags and accessories. It currently carries a Zacks Rank #1.
The Zacks Consensus Estimate for Designer Brands’ current fiscal-year earnings and sales suggests growth of 137.5% and 0.5%, respectively, from the year-ago actuals. DBI delivered a trailing four-quarter average earnings surprise of 112.8%.
Tapestry, Inc. (TPR - Free Report) is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The company also holds a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Tapestry’s current fiscal-year earnings and sales indicates growth of 36.5% and 13.9%, respectively, from the year-ago actuals. TPR delivered a trailing four-quarter average earnings surprise of 15.6%.
LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--Steven Madden, Ltd. (NASDAQ: SHOO), a leading designer and marketer of fashion-forward footwear, accessories and apparel, today announced that the Company plans to release its second quarter 2026 earnings results on Thursday, July 30, 2026. Management will host a conference call to review the results at 8:30 a.m. Eastern Time. The live webcast of the management call can be accessed at the Company's investor relations website at https://investor.stevemadd.
Steven Madden, Ltd. (NASDAQ: SHOO), a leading designer and marketer of fashion-forward footwear, accessories and apparel, today announced that the Company plan
On July 09, 2026, Steven Madden Ltd (SHOO) shares rose 3.4% today, closing at $40.32. Despite today's positive movement, the stock has seen a 10.3% decline over
Key Takeaways Steven Madden's Dolce Vita delivered a strong spring season with healthy wholesale sell-through.Steven Madden is growing Dolce Vita's handbag business and expanding its global footprint.Steven Madden projects high single-digit 2026 revenue growth for Dolce Vita amid strong demand. Dolce Vita is gaining momentum within Steven Madden, Ltd. ’s (SHOO - Free Report) brand portfolio as strong consumer demand and trend-driven products continue to fuel performance. During the spring season, the brand benefited from healthy demand for jelly, raffia and woven styles across footwear and handbags, leading to robust sell-through at major wholesale partners such as Nordstrom, Dillard’s and Macy’s.
Beyond seasonal product strength, Dolce Vita is pursuing initiatives aimed at expanding its long-term addressable market. Management is focused on growing the handbag business and increasing the brand’s international presence, moves that should provide additional revenue opportunities and support a more diversified business model over time.
The brand’s wholesale performance has been particularly encouraging. Management noted that Dolce Vita recorded a very strong spring season and was outperforming the Steven Madden label in sell-through at its largest retail customer. This suggests increasing consumer affinity for the brand and reinforces its ability to gain shelf space and capture incremental demand within key distribution channels.
Dolce Vita’s momentum coincides with improving fundamentals at the parent company. Steven Madden reported first-quarter 2026 revenues of $653.1 million, up 18% year over year, prompting management to raise its fiscal 2026 sales outlook to growth of 10-12% from the prior expectation of 9-11%. Notably, the company increased expectations for each of its three largest brands — Steven Madden, Kurt Geiger and Dolce Vita — highlighting broad-based strength across the portfolio.
Management continues to project high single-digit revenue growth for Dolce Vita in 2026. Supported by favorable demand trends, category expansion initiatives and growing international exposure, the brand appears increasingly well positioned to become a more meaningful contributor to Steven Madden’s long-term growth story.
SHOO’s Price Performance, Valuation & EstimatesShares of the company have risen 58.6% over the past year against the industry’s 33.4% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, Steven Madden is trading at a trailing 12-month price-to-sales ratio of 1.08X, down from the industry average of 1.34X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Steven Madden’s 2026 earnings implies year-over-year growth of 22.9%, whereas the same for 2027 indicates an uptick of 33.8%. Estimates for 2026 have been unchanged, while those for 2027 have been revised upward by 35 cents over the past 60 days.
Image Source: Zacks Investment Research
SHOO’s Zacks Rank & Other Key PicksSteven Madden currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks are Tapestry, Inc. (TPR - Free Report) , Genesco Inc. (GCO - Free Report) and Designer Brands Inc. (DBI - Free Report) .
Tapestry is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The company sports a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Tapestry’s current fiscal-year earnings and sales indicates growth of 36.3% and 13.8%, respectively, from the year-ago actuals. TPR delivered a trailing four-quarter average earnings surprise of 15.6%.
Genesco is a Nashville-based specialty retail and branded company. It sells footwear and accessories in retail stores. The company also flaunts a Zacks Rank #1 at present.
The Zacks Consensus Estimate for Genesco’s current fiscal-year earnings indicates growth of 55.2% from the year-ago actuals. GCO delivered a trailing four-quarter average earnings surprise of 3.8%.
Designer Brands designs, produces and retails footwear and accessories. It offers shoes, boots, sandals, sneakers, socks, handbags and accessories. It currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Designer Brands’ current fiscal-year earnings and sales suggests growth of 137.5% and 0.5%, respectively, from the year-ago actuals. DBI delivered a trailing four-quarter average earnings surprise of 112.8%.
Peter Migliorini, Director at Steven Madden (SHOO +4.20%), reported the sale of 4,000 shares of common stock in an open-market transaction on June 15, 2026, according to the SEC Form 4 filing.
Transaction summaryMetricValueShares sold (direct)4,000Transaction value$181,200Post-transaction shares (direct)16,830Post-transaction value (direct ownership)$764,000Transaction value based on SEC Form 4 reported price ($45.30); post-transaction value based on June 15, 2026 market close ($45.42).
Key questionsHow does the size of this sale compare to Migliorini's previous transactions?
This 4,000-share sale is the largest in the past two years, modestly above his prior sell-only event sizes, which have ranged from 3,000 to 3,989 shares, and aligns with the reduction in available shares since 2023.What portion of Migliorini's direct equity exposure remains after this transaction?
Following this sale, Migliorini continues to hold 16,830 shares directly.Was this transaction part of a multi-year pattern or a deviation from typical activity?
Migliorini has consistently made one to two sales per year since 2023; this transaction fits his historical cadence rather than reflecting an abrupt increase in sales activity.Does Migliorini have any remaining economic interest in other share classes?
The filing shows Migliorini holds 16,830 shares of common stock directly, and retains these as a continuing economic interest; no additional share classes or indirect holdings are reported.Company overviewMetricValueRevenue (TTM)$2.63 billionNet income (TTM)$76.06 millionDividend yield2%1-year price change81%Company snapshotSteven Madden offers contemporary footwear, accessories, and apparel under proprietary and licensed brands, with products spanning shoes, handbags, small leather goods, and fashion accessories.The firm generates revenue through a diversified model encompassing wholesale distribution, direct-to-consumer retail (including e-commerce), licensing, and private label manufacturing for third parties.It targets a broad customer base across women, men, and children, serving department stores, mass merchants, specialty boutiques, and consumers through both physical stores and digital platforms.Steven Madden is a leading global designer and marketer in the footwear and accessories sector, operating with a multi-channel approach that balances wholesale, direct-to-consumer, and licensing streams. The company leverages a portfolio of recognized brands and a robust retail footprint to address evolving consumer preferences in the fashion industry. Its strategy emphasizes brand diversity, innovation, and an agile supply chain to maintain competitive advantage and drive growth across domestic and international markets.
What this transaction means for investorsThis sale looks like a routine trim by a longtime director. Peter Migliorini has followed a steady pattern of selling small blocks of shares once or twice a year, and this latest transaction leaves him with 16,830 shares, suggesting he still has meaningful skin in the game.
The bigger story for investors is Steven Madden's business momentum. Shares have surged about 81% over the past year as the footwear and accessories company continues expanding beyond its flagship brand. First quarter revenue climbed 18% year over year to $653.1 million, while reported diluted earnings nearly doubled to $1.00 per share. The company also raised its full-year revenue outlook, now expecting sales growth of 10% to 12%, and introduced fiscal 2026 earnings guidance of $2.55 to $2.65 per share. CEO Edward Rosenfeld said the company saw "healthy underlying demand" across its brands, highlighting strong consumer response to the Steve Madden label and continued momentum at Kurt Geiger. He added that management expects earnings growth to resume in the second quarter and believes the company's "powerful brands, proven business model and talented team" position it for sustainable long-term growth.
For long-term investors, a relatively small insider sale matters far less than whether Steven Madden can continue integrating Kurt Geiger, grow its direct-to-consumer business, and deliver on the stronger outlook management just issued.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Key Takeaways NIKE leads global athletic footwear, while Steven Madden targets fashion footwear and accessories.NKE's turnaround shows early signs, but sportswear, China, tariffs and promotions remain concerning.SHOO's revenues rose 18%, DTC surged 83.8% and 2026 estimates point to stronger growth. In the highly competitive global footwear and fashion industry, few companies illustrate contrasting paths to success better than NIKE, Inc. (NKE - Free Report) and Steve Madden Ltd. (SHOO - Free Report) . While both brands have built strong consumer followings and established recognizable identities, they operate at vastly different scales and occupy distinct positions within the market.
NIKE stands as the world's largest athletic footwear and apparel company, commanding a dominant share of the global sportswear market through its innovation-driven strategy, premium branding and extensive international reach. Steve Madden, in contrast, has carved out a profitable niche in the fashion footwear segment, leveraging trend-focused designs, accessible pricing and a diversified portfolio of lifestyle brands.
NIKE’s business is deeply rooted in performance athletics, apparel and direct-to-consumer retail, while Steve Madden primarily focuses on fashion footwear, accessories and licensing operations aimed at style-conscious consumers.
As investors and industry observers evaluate opportunities within the footwear sector, understanding how NIKE and Steve Madden compare in terms of market share, brand strength, financial scale and strategic positioning provides valuable insight into their long-term growth prospects and ability to navigate evolving consumer trends.
The Case for NKENike’s investment case rests on unmatched scale, powerful brand equity and leadership in global athletic footwear, wherein it commands an estimated mid-20% market share. Its portfolio spans Nike, Jordan, Converse and ACG, serving athletes, sneaker consumers and lifestyle shoppers across running, basketball, football, training and sportswear.
Management’s turnaround is showing early proof points. Nike Running grew more than 20% in third-quarter fiscal 2026, North America returned to growth, wholesale rose 1%, and revenues of $11.28 billion and earnings per share (EPS) of 35 cents beat expectations. The company is shifting from a Nike Direct-first model to a more balanced marketplace, rebuilding wholesale partnerships, improving digital execution and leaning into innovation platforms such as Nike Mind, Liquid Air Max and Aero-FIT.
However, key headwinds remain centered on NIKE’s turnaround execution. Sportswear remains weak, China is under pressure, EMEA is promotional, and tariffs hurt North America's gross margin. Key headwinds remain centered on NIKE’s turnaround execution. Sportswear is still declining in the double digits, digital remains highly promotional, sell-through is below plan, and EMEA faces elevated inventory and markdown pressure.
Greater China is another major drag, with NIKE intentionally reducing sell-in to clean up channels and restore full-price demand. Tariffs remain a marginal burden, cutting North America's gross margin by roughly 300 basis points (bps) in third-quarter fiscal 2026. These pressures make the recovery promising, but still fragile.
The Case for SHOOSteven Madden presents a compelling investment case as a leading player in the fashion footwear market, commanding an estimated low-single-digit share of the U.S. footwear industry while maintaining strong relevance in women’s fashion footwear and accessories. The company’s portfolio includes the flagship Steven Madden brand, Dolce Vita and Kurt Geiger, enabling it to address multiple consumer segments across footwear, handbags, apparel and accessories. Its trend-driven product strategy, targeting fashion-conscious millennials and Gen Z consumers, continues to strengthen brand equity and market positioning.
The company’s execution remains impressive. First-quarter 2026 revenues rose 18% year over year to $653.1 million, while the adjusted EPS of 45 cents surpassed expectations. Direct-to-consumer revenues surged 83.8%, aided by Kurt Geiger, while organic DTC sales increased 8%. Digital innovation, omnichannel marketing and increased social-media investments have boosted customer engagement, with online searches for the Steven Madden brand rising 27% in the quarter. Management also raised its full-year revenue guidance to 10-12% growth, reflecting strong momentum across Steven Madden, Dolce Vita and Kurt Geiger.
Tariff dynamics remain a key consideration. Management has incorporated a 10% tariff through July and a 15% tariff thereafter into its outlook, while higher freight costs are expected to create 30 bps of margin pressure. Nevertheless, Steven Madden’s diversified sourcing model, pricing flexibility and strong brand demand position it well to navigate these challenges. The company’s expanding international footprint, growing DTC business and disciplined brand-building strategy support its long-term growth outlook despite near-term macroeconomic and tariff-related uncertainties.
How Does the Zacks Consensus Estimate Compare for NKE & SHOO?The Zacks Consensus Estimate for NIKE’s fiscal 2026 sales implies year-over-year growth of 0.1%, while the same for EPS indicates a decline of 31%. The EPS estimate has been unchanged in the past 30 days.
The Zacks Consensus Estimate for Steven Madden’s 2026 sales and EPS suggests year-over-year growth of 11.7% and 22.9%, respectively. The EPS estimate has moved up 1.5% in the past 30 days.
NIKE’s estimate trend appears muted, with sales growth barely positive and earnings under pressure, reflecting ongoing turnaround challenges. In contrast, Steven Madden shows stronger momentum, with expectations pointing to solid sales and earnings growth, supported by upward estimate revisions. This gives Steven Madden a clearer near-term earnings advantage over NIKE.
Price Performance & Valuation of NKE & ADDYYIn the past year, NIKE shares have declined 24.3%, while Steven Madden has rallied 91.9%.
From a price-performance perspective, Steven Madden has significantly outpaced NIKE, reflecting stronger investor confidence in its growth trajectory and execution.
NIKE is trading at a forward price-to-earnings (P/E) multiple of 23.9X, below its median of 28.85X in the last five years. Steven Madden’s forward P/E multiple sits at 18.5X, above its median of 14.74X in the last five years.
While NIKE trades below its historical valuation norms amid turnaround uncertainties, Steven Madden continues to command a more attractive valuation relative to its growth prospects. Despite trading above its long-term average multiple, Steven Madden appears better-positioned, supported by robust momentum, improving fundamentals and a valuation that remains reasonable relative to its earnings growth outlook.
NKE vs. SHOO: Which Is the Better Bet Now?While NIKE remains the industry leader with unmatched scale, brand strength and innovation capabilities, its turnaround efforts are still facing meaningful operational and market challenges. Steven Madden, in contrast, is benefiting from stronger business momentum, healthy consumer demand and a diversified brand portfolio that continues to gain traction across channels and markets.
For investors seeking a combination of growth, valuation and stock performance, Steven Madden emerges as the winner in this face-off. The company has delivered superior shareholder returns, offers a more attractive valuation relative to its growth prospects and enjoys stronger earnings momentum. The company’s upward revisions to estimates further signal growing confidence in its earnings outlook, reinforcing Steven Madden’s position as the more compelling investment opportunity at present.
SHOO currently carries a Zacks Rank #3 (Hold), whereas NIKE has a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DUBAI, United Arab Emirates, March 27, 2026 (GLOBE NEWSWIRE) -- During Ramadan, and at a time when compassion and unity matter more than ever, Apparel Group brought together leading NGOs across the region for a collaboration dedicated to supporting children of determination. Mobilising its platform alongside trusted partners including Al Jalila Foundation in the UAE, Down Syndrome Charitable Association in Saudi Arabia, Qatar Charity, the Ministry of Social Development in Bahrain, and the Committee of Zakah of Muttrah in Oman, the initiative reflected a collective commitment to meaningful giving, strengthening communities and extending support to children and families across the region.
Apparel Group drove the initiative through its brand Steve Madden’s Ramadan campaign, “Bold Style. Bigger Impact.”, using retail as a platform to deliver meaningful social impact. Through the campaign, more than 5,000 pairs of adaptive shoes designed to support the comfort and mobility of children of determination were donated across the GCC, helping bring confidence, dignity, and greater mobility to children and their families.
Steve Madden’s Ramadan 2026 campaign, “Bold Style. Bigger Impact.”, reflected the brand’s continued focus on purpose-led initiatives. Through this campaign, the brand connected its collection to a wider social mission, supporting children of determination while reinforcing its commitment to inclusivity and meaningful community engagement.
Focusing on adaptive footwear designed for children, the initiative addressed a meaningful need while bringing attention to the importance of accessibility and inclusion. Each pair of shoes represented more than a donation. It represented a step toward greater confidence, participation, and opportunity for children and their families.
Neeraj Teckchandani, CEO of Apparel Group, said: "Ramadan is a time that reminds us of the importance of compassion, generosity, and standing together as a community. It is also a moment that calls on all of us to rise through acts of kindness and support for those who need it most. At Apparel Group, we believe our responsibility extends beyond business. Through strong partnerships and thoughtful initiatives like this, we hope to support children and families while reinforcing the values of inclusion, care, and unity that define this special time."
By bringing together NGOs, communities, and industry partners across the GCC, Apparel Group continued to demonstrate how collaboration translated the spirit of giving into meaningful action. Initiatives like this reflected the Group’s long-standing commitment to supporting communities and championing causes that uplift individuals and families.
Through its scale, partnerships, and brand platform, Apparel Group continues to support initiatives that promote inclusion, dignity, and opportunity, reinforcing the power of collective action in creating lasting social impact.
About Apparel Group:
Apparel Group is a multibillion dollar conglomerate since 1996 based in Dubai, UAE, with a growing network of 2,500+ stores and a diverse portfolio of 85+ international brands across 14 countries. The Group has established a strong presence in the GCC—Bahrain, Saudi Arabia, Kuwait, Qatar, and Oman—and continues to expand across key markets including India, Southeast Asia, South Africa, and Egypt. Offering an integrated omni-channel experience, Apparel Group represents global names such as Tommy Hilfiger, Skechers, ALDO, Charles & Keith, and Tim Hortons. Its sustained growth is driven by a multicultural workforce of 27,000+ and steered under the leadership of its founders, Sima Ganwani Ved and Nilesh Ved.
https://www.apparelgroup.com/en/
About Steve Madden
Steve Madden designs, sources and markets fashion-forward footwear, accessories and apparel for women, men and children. In addition to marketing products under its own brands including Steve Madden®, Dolce Vita®, Betsey Johnson®, Blondo®, GREATS®, BB Dakota® and Mad Love®, Steve Madden licensees footwear and handbag categories for the Anne Klein® brand. Steve Madden also designs and sources products under private label brand names for various retailers. Steve Madden’s wholesale distribution includes department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers and independent stores. Steve Madden also operates brick-and-mortar retail stores and e-commerce websites. Steve Madden also licenses certain of its brands to third parties for the marketing and sale of certain products, including outerwear, eyewear, sunglasses, hosiery, jewelry, watches, fragrance, luggage, bedding and bath products as well as other select product categories.
For local store information and the latest boots, booties, dress shoes, fashion sneakers, sandals, slippers and more, please visit www.stevemadden.me.
Apparel Group x Steve Madden Lead a GCC-Wide CSR Initiative with Leading NGOs to Support Children of... Apparel Group x Steve Madden Lead a GCC-Wide CSR Initiative with Leading NGOs to Support Children of... Apparel Group x Steve Madden Lead a GCC-Wide CSR Initiative with Leading NGOs to Support Children of... Apparel Group x Steve Madden Lead a GCC-Wide CSR Initiative with Leading NGOs to Support Children of...
It has been about a month since the last earnings report for Steven Madden (SHOO - Free Report) . Shares have lost about 9.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Steven Madden due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Steven Madden, Ltd. before we dive into how investors and analysts have reacted as of late.
SHOO Q4 Earnings Top Estimates, Revenues Jump Y/Y on Kurt Geiger BoostSteven Madden has reported fourth-quarter 2025 results, wherein the top and bottom lines surpassed the Zacks Consensus Estimate. Total revenues increased, while earnings decreased from the year-ago period.
Steven Madden’s Quarterly Performance: Key InsightsSHOO posted adjusted quarterly earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 46 cents. The metric fall 12.7% from 55 cents in the prior-year period.
Total revenues rose 29.4% year over year to $753.7 million. Net sales of $749.8 million grew 29.5%, and licensing fee income of $3.9 million increased 10.2% from the year-ago period. The top line surpassed the consensus estimate of $753 million.
Adjusted gross profit rose 40.1% year over year to $329.9 million. We note that the adjusted gross margin expanded 340 basis points (bps) to 43.8%.
The company’s adjusted operating expenses increased 52.5% year over year to $278.9 million. As a percentage of revenues, adjusted operating expenses increased 560 bps year over year to 37%.
Steven Madden has reported an adjusted operating income of $50.9 million, down 3.2% from the prior-year quarter. The adjusted operating margin decreased 220 bps to 6.8%.
SHOO’s Segmental PerformanceIn the fourth quarter of 2025, wholesale revenues totaled $433.3 million, representing a 7.5% surge from the year-ago period. When excluding the recently acquired Kurt Geiger business, wholesale revenues decreased 2.6% year over year.
Within the wholesale segment, footwear revenues were up 11%, or 5.5% excluding Kurt Geiger, while accessories and apparel revenues increased 3.1%, but declined 13%, excluding Kurt Geiger. The adjusted gross margin in this segment was 31.5%, up 100 basis points year over year, primarily reflecting the addition of the Kurt Geiger business, partially offset by the impacts of newly implemented tariffs on products imported into the United States.
Direct-to-consumer revenues for the quarter were $316.6 million, up 79.9% year over year. Excluding Kurt Geiger, direct-to-consumer sales grew 1.6%. The adjusted gross margin was 59.8%, down 220 basis points year over year, reflecting the effects of new import tariffs and the addition of the Kurt Geiger concessions business.
At the end of the fourth quarter, the company operated 399 brick-and-mortar retail stores, including 98 outlet locations, along with seven e-commerce websites and 133 company-operated concessions in international markets.
SHOO’s Financial Health SnapshotAs of Dec. 31, 2025, the company had total debt outstanding of $234.2 million, and cash and cash equivalents of $112.4 million, resulting in net debt of $121.7 million. The capital expenditure in 2025 was $42.7 million.
The company did not repurchase any shares of its common stock in the open market during 2025. In the fourth quarter and for 2025, the company used $5.2 million and $13.5 million, respectively, to acquire shares in connection with the net settlement of employees’ stock awards.
SHOO announced a cash dividend of 21 cents per share, payable on March 20, 2026, to stockholders of record as of the close of business on March 11.
SHOO’s 2026 OutlookFor 2026, the company expects revenues to increase 9-11% from that reported in 2025. However, given the uncertainty related to recent changes in U.S. tariff policy, the company is not issuing any earnings guidance at this time.
How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -30.17% due to these changes.
VGM ScoresAt this time, Steven Madden has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Steven Madden has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Shares of Steven Madden, Ltd. (NASDAQ: SHOO - Get Free Report) have earned a consensus rating of "Hold" from the nine analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to
Steven Madden, Ltd. (NASDAQ:SHOO – Get Free Report) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 4,720,037 shares, an increase of 28.1% from the February 26th total of 3,685,468 shares. Based on an average daily volume of 1,356,573 shares, the short-interest ratio is currently 3.5 days. Currently, 6.6% of the shares of the stock are sold short.
Insider Activity In related news, Director Arian Simone Reed sold 3,600 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the sale, the director directly owned 8,705 shares in the company, valued at $291,095.20. The trade was a 29.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.22% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Steven Madden A number of hedge funds have recently modified their holdings of SHOO. Vanguard Group Inc. boosted its position in Steven Madden by 2.5% during the third quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker’s stock valued at $277,342,000 after purchasing an additional 200,013 shares during the last quarter. Wellington Management Group LLP increased its position in Steven Madden by 18.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,453,208 shares of the textile maker’s stock worth $115,613,000 after purchasing an additional 528,829 shares during the last quarter. Invesco Ltd. raised its stake in shares of Steven Madden by 15.2% during the 4th quarter. Invesco Ltd. now owns 2,784,943 shares of the textile maker’s stock worth $115,965,000 after purchasing an additional 367,459 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Steven Madden by 14.0% during the 3rd quarter. Capital Research Global Investors now owns 2,720,354 shares of the textile maker’s stock worth $91,077,000 after purchasing an additional 334,058 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Steven Madden by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker’s stock valued at $82,046,000 after buying an additional 41,947 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.
Steven Madden Price Performance Shares of SHOO opened at $33.11 on Monday. The business’s 50-day moving average is $37.75 and its 200-day moving average is $38.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 53.40 and a beta of 1.13. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $46.88.
Steven Madden (NASDAQ:SHOO – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $753.70 million during the quarter, compared to analysts’ expectations of $758.53 million. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. Equities research analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.
Steven Madden Announces Dividend The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.5%. Steven Madden’s dividend payout ratio (DPR) is 135.48%.
Analyst Upgrades and Downgrades Several research analysts have issued reports on the stock. BTIG Research restated a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 26th. Williams Trading set a $48.00 price objective on Steven Madden in a research note on Tuesday, March 10th. Telsey Advisory Group restated an “outperform” rating and issued a $50.00 target price on shares of Steven Madden in a report on Thursday, February 26th. Needham & Company LLC cut their target price on Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Jefferies Financial Group downgraded Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price for the company. in a report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.00.
Check Out Our Latest Analysis on SHOO
Steven Madden Company Profile (Get Free Report)
Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.
Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.
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Key Takeaways SHOO's Q4 DTC revenues surged 79.9% y/y to $316.6 million, led by owned-channel consumer demand.E-commerce outpaced stores, with online brand searches up 10% y/y among younger shoppers.DTC revenues for 2026 are projected to grow 7.5%, excluding Kurt Geiger, backed by digital momentum. Steven Madden, Ltd.’s (SHOO - Free Report) strong digital momentum and improving full-price channel performance significantly boosted its direct-to-consumer (DTC) business, reinforcing the brand’s ability to drive profitable growth through owned channels. In fourth-quarter 2025, DTC revenues surged 79.9% year over year to $316.6 million. Even after excluding the contribution from the Kurt Geiger acquisition, DTC sales still increased 1.6%, reflecting steady organic momentum.
A key highlight was the return of comps growth in Steve Madden’s U.S. DTC business during the fourth quarter. Management noted that strong performance in full-price channels more than offset continued softness in outlet stores. This signals improving brand desirability and healthier consumer demand, especially in premium and full-price assortments.
The digital channel was particularly strong, with management emphasizing that e-commerce growth outpaced physical stores in the fourth quarter. Online brand searches for Steve Madden increased 10% year over year, showing rising brand heat among Gen Z and millennial consumers. The company’s investments in richer product storytelling and always-on marketing campaigns appear to be translating into stronger online traffic and conversion.
Store productivity also showed encouraging trends. While outlets remained weak, full-price stores posted a solid increase, and performance improved further heading into the first quarter of 2026. The company ended 2025 with 399 company-operated stores, alongside seven e-commerce websites and 133 international concessions, underscoring the scale of its DTC platform.
Looking ahead, management remains optimistic about continued DTC momentum. For 2026, excluding Kurt Geiger, DTC revenues are expected to grow 7.5% at the mid-point. This strength, supported by digital traction, better full-price sell-through and sustained marketing investment, positions DTC as a critical long-term growth engine for Steven Madden’s brand portfolio. We foresee DTC revenues to increase 21.3% year over year in 2026.
SHOO’s Price Performance, Valuation & EstimatesShares of the company have surged 80.2% in the past year against the industry’s 17.6% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, Steven Madden is trading at a forward 12-month price-to-sales ratio of 0.95X, down from the industry average of 1.26X. It has a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Steven Madden’s 2026 earnings implies a year-over-year growth of 22.9%, whereas the same for 2027 indicates an uptick of 16.8%. Estimates for 2026 and 2027 have been revised upward by 5 cents and 7 cents, respectively, in the past 30 days.
Image Source: Zacks Investment Research
SHOO’s Zacks Rank & Key PicksSteven Madden currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks are FIGS Inc. (FIGS - Free Report) , Tapestry, Inc. (TPR - Free Report) and Abercrombie & Fitch Co. (ANF - Free Report) .
FIGS is a direct-to-consumer healthcare apparel and lifestyle brand, and it currently sports a Zacks Rank of 1 (Strong Buy). The company delivered a trailing four-quarter earnings surprise of 187.5%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for FIGS’ current financial-year sales and earnings indicates growth of 11.7% and 15.8%, respectively, from the year-ago reported numbers.
Tapestry, which was formerly known as Coach, Inc., is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. It presently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Tapestry’s current fiscal-year earnings and sales implies growth of 26.5% and 11.2%, respectively, from the year-ago actuals. TPR delivered a trailing four-quarter average earnings surprise of 12.8%.
Abercrombie & Fitch operates as a specialty retailer of premium, high-quality casual apparel for men, women and kids. It currently has a Zacks Rank of 2.
The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal year earnings and sales implies growth of 8.6% and 4.3%, respectively, from the year-ago actuals. ANF delivered a trailing four-quarter average earnings surprise of 8.4%.
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Stock to Watch: Steven Madden (SHOO - Free Report) Steven Madden, Ltd. (SHOO - Free Report) designs, sources, markets and sells fashion-forward branded and private-label footwear, accessories, handbags and apparel for women, men and children across the world. The company operates through the following segments—Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to-Consumer and Licensing. The company offers products under its owned brands, including Kurt Geiger London, Dolce Vita, Betsey Johnson, Carvela, Blondo and ATM. It also licenses footwear, handbags and other accessories for the Anne Klein brand.
SHOO is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Consumer Discretionary stock. SHOO has a Momentum Style Score of B, and shares are up 15.5% over the past four weeks.
One analyst revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.00 to $2.09 per share. SHOO also boasts an average earnings surprise of +4%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, SHOO should be on investors' short list.
It's been a mixed bag in the stock market lately -- several companies are delighting investors by beating analysts' expectations in the first three months of the year. But on the other hand, companies are making shareholders nervous by withdrawing guidance for the next quarter or the rest of the year.
It's a sign of market uncertainty -- tariff policies that whipsaw back and forth, uncertainties about oil supply, and the status of the Iran war are making companies nervous. Amid that backdrop, it's difficult to guess what expenses companies will incur or the appetite for consumer spending for the next several months.
"Some percentage of companies -- more than normal -- will just be saying (they) don't have the visibility to provide discrete guidance for the quarter," David Lefkowitz, head of US Equities at UBS Global Wealth Management, told Morningstar. "There are too many variables, I think, to really game it out."
Image source: Getty Images.
The outlook for year is murky The stock market, in general, indeed hates uncertainty, and we're seeing that play out across earnings reports across a variety of industries. Constellation Brands (STZ +2.08%) posted an earnings beat for its fiscal fourth quarter of 2026 (ending Feb. 28) of $1.90 per share, beating estimates of $1.71. But the beverage alcohol company withdrew its fiscal 2027 guidance, citing the economy and its impact on consumer spending.
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Apparel company Steve Madden (SHOO +1.23%) beat analysts' estimates by a penny per share in the fourth quarter of 2025, but in February, it announced it was withdrawing its 2026 guidance due to uncertainties from U.S. tariffs.
BRP (DOO +2.05%), a Canadian manufacturer of powersports vehicles and marine products, posted earnings of $2.23 per share, beating analysts' expectations for $2.03 per share in the fiscal fourth quarter of 2026 (ending Jan. 31). But the company withdrew its guidance as well, citing $500 million in tariff expenses.
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At least 21 companies have withdrawn or cut their guidance since the beginning of the Iran war, according to Reuters, with companies citing disruptions to supply chains and higher fuel prices.
How investors should respond Pulled guidance creates a challenging investment environment. For long-term investors, I'm in favor of riding the wave even when it gets a little bumpy. Companies are withholding guidance because they don't have a clear idea of the next few months, but the market historically averages 10% gains per year over the long term -- and that's where you should be focused.
For investors who are approaching retirement, this is a time for caution. Broad exchange-traded funds or index funds are ideal investments for their diversification, but it would be a mistake to be overweighted on any one stock and risk a market downturn. If you're investing in individual stocks, carefully review management's commentary and question-and-answer sessions with analysts, even if your company has withdrawn its guidance, to get some clarity on what challenges may lie ahead.
Either way, what we're seeing in the market right now isn't a case of businesses being broken or management error. It's more about the fact that companies don't have crystal balls, and the landscape is shifting too quickly on tariffs and the Middle East, making it hard for them to responsibly project the revenues or profits they'll see.
Broad Peak Investment Advisers Pte Ltd purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 80,400 shares of the textile maker’s stock, valued at approximately $3,348,000. Steven Madden accounts for 0.6% of Broad Peak Investment Advisers Pte Ltd’s investment portfolio, making the stock its 20th biggest position. Broad Peak Investment Advisers Pte Ltd owned about 0.11% of Steven Madden at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in SHOO. First Horizon Corp grew its holdings in shares of Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after acquiring an additional 317 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Steven Madden in the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC lifted its stake in Steven Madden by 79.4% in the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 435 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Steven Madden by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 485 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Steven Madden by 616.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker’s stock valued at $72,000 after purchasing an additional 1,838 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.
Analyst Ratings Changes Several brokerages have issued reports on SHOO. Williams Trading set a $48.00 price objective on shares of Steven Madden in a research report on Tuesday, March 10th. Needham & Company LLC dropped their price target on shares of Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. BTIG Research reiterated a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 26th. Jefferies Financial Group downgraded shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target for the company. in a research report on Thursday, February 5th. Finally, Zacks Research raised shares of Steven Madden from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Steven Madden has an average rating of “Hold” and a consensus price target of $44.00.
Check Out Our Latest Stock Report on SHOO
Insider Activity at Steven Madden In other Steven Madden news, Director Arian Simone Reed sold 3,600 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the sale, the director directly owned 8,705 shares in the company, valued at $291,095.20. This represents a 29.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.22% of the company’s stock.
Steven Madden Price Performance Shares of NASDAQ SHOO opened at $38.55 on Friday. The firm’s 50-day moving average price is $35.85 and its 200-day moving average price is $38.74. Steven Madden, Ltd. has a 1-year low of $19.75 and a 1-year high of $46.88. The firm has a market capitalization of $2.82 billion, a P/E ratio of 62.18 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26.
Steven Madden (NASDAQ:SHOO – Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The business had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. During the same period in the prior year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.09 earnings per share for the current fiscal year.
Steven Madden Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Wednesday, March 11th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, March 11th. Steven Madden’s dividend payout ratio is presently 135.48%.
Steven Madden Profile (Free Report)
Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.
Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.
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LONG ISLAND CITY, N.Y., May 06, 2026 (GLOBE NEWSWIRE) -- Steven Madden, Ltd. (Nasdaq: SHOO) (the “Company”), a leading designer and marketer of fashion-forward footwear, accessories and apparel, today announced financial results for the first quarter ended March 31, 2026.
Amounts referred to as “Adjusted” are non-GAAP measures that exclude the items defined as “Non-GAAP Adjustments” in the “Non-GAAP Reconciliation” section.
First Quarter 2026 Results
Revenue increased 18.0% to $653.1 million, compared to $553.5 million in the same period of 2025.Gross profit as a percentage of revenue was 54.7%, compared to 40.9% in the same period of 2025. Adjusted gross profit as a percentage of revenue was 46.3%, compared to 40.9% in the same period of 2025.Operating expenses as a percentage of revenue were 39.5%, compared to 32.0% in the same period of 2025. Adjusted operating expenses as a percentage of revenue were 39.2%, compared to 30.8% in the same period of 2025.Income from operations totaled $98.7 million, or 15.1% of revenue, compared to $53.5 million, or 9.7% of revenue, in the same period of 2025. Adjusted income from operations totaled $46.3 million, or 7.1% of revenue, compared to $56.1 million, or 10.1% of revenue, in the same period of 2025.Net income attributable to Steven Madden, Ltd. was $71.8 million, or $1.00 per diluted share, compared to $40.4 million, or $0.57 per diluted share, in the same period of 2025. Adjusted net income attributable to Steven Madden, Ltd. was $32.1 million, or $0.45 per diluted share, compared to $42.4 million, or $0.60 per diluted share, in the same period of 2025.
Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We got off to a solid start to the year in the first quarter, with healthy underlying demand across our brands driven by compelling product assortments and strong marketing execution.
The Steve Madden brand continued to gain momentum, as consumers responded favorably to our on-trend assortments, resulting in strong comps in our direct-to-consumer business and robust sell-through performance in wholesale. The Kurt Geiger London brand also delivered another strong quarter, with continued momentum across channels.
While earnings declined in the first quarter, we expect to return to earnings growth in the second quarter and deliver strong top- and bottom-line growth for the full year. Looking out further, we are confident that our powerful brands, proven business model and talented team position us to deliver sustainable growth for years to come.”
First Quarter 2026 Channel Results
Revenue for the wholesale business in the first quarter of 2026 was $443.6 million, a 1.0% increase compared to the first quarter of 2025. Excluding Kurt Geiger, wholesale revenue declined 8.2%. Wholesale footwear revenue decreased 5.8%, or 12.0% excluding Kurt Geiger. Wholesale accessories/apparel revenue increased 15.1%, or decreased 0.5% excluding Kurt Geiger. Gross profit as a percentage of wholesale revenue was 49.2% in the first quarter of 2026, compared to 35.7% in the first quarter of 2025. Adjusted gross profit as a percentage of wholesale revenue was 39.2%, compared to 35.7% in the first quarter of 2025, due to higher average selling prices as well as mix benefits from the addition of the Kurt Geiger business and a lower penetration of private label.
Direct-to-consumer revenue in the first quarter of 2026 was $206.0 million, an 83.8% increase compared to the first quarter of 2025. Excluding Kurt Geiger, direct-to-consumer revenue increased 8.0%. Gross profit as a percentage of direct-to-consumer revenue was 65.9%, compared to 60.1% in the first quarter of 2025. Adjusted gross profit as a percentage of direct-to-consumer revenue was 60.8%, compared to 60.1% in the first quarter of 2025, as a result of the addition of the Kurt Geiger business as well as a modest increase in the organic business.
The Company ended the quarter with 387 Company-operated brick-and-mortar retail stores, including 95 outlets, as well as eight e-commerce websites and 162 Company-operated concessions in international markets.
Balance Sheet and Cash Flow Highlights
As of March 31, 2026, total debt outstanding was $286.5 million, and cash and cash equivalents were $77.2 million, for net debt of $209.3 million.
During the first quarter of 2026, the Company did not repurchase any shares of its common stock in the open market.
Quarterly Cash Dividend
The Company’s Board of Directors approved a quarterly cash dividend of $0.21 per share. The dividend is payable on June 19, 2026 to stockholders of record as of the close of business on June 8, 2026.
Updated Fiscal 2026 Outlook
The Company is raising its fiscal 2026 revenue guidance and introducing fiscal 2026 diluted earnings per share guidance. The Company now expects fiscal 2026 revenue will increase 10% to 12% compared to fiscal 2025. The Company expects fiscal 2026 diluted EPS will be in the range of $2.55 to $2.65. The Company expects Adjusted diluted EPS will be in the range of $2.00 to $2.10.
Conference Call Information
Interested stockholders are invited to listen to the conference call scheduled for today, May 6, 2026, at 8:30 a.m. Eastern Time, which will include a discussion of the Company's first quarter 2026 earnings results and updated fiscal 2026 outlook. The call will be webcast live on the Company’s website at https://investor.stevemadden.com. A webcast replay of the conference call will be available on the Company's website or via the following webcast link https://edge.media-server.com/mmc/p/vf5worz8 beginning today at approximately 10:00 a.m. Eastern Time.
About Steve Madden
Steve Madden designs, sources and markets fashion-forward footwear, accessories and apparel. In addition to marketing products under its own brands including Steve Madden®, Kurt Geiger London®, Dolce Vita®, Betsey Johnson®, Carvela®, Blondo® and ATM®, Steve Madden licenses footwear, handbags and other accessory categories for the Anne Klein® brand. Steve Madden also designs and sources products under private label brand names for various retailers. Steve Madden’s wholesale distribution includes department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers and independent stores. Steve Madden also directly operates brick-and-mortar retail stores and e-commerce websites. In addition, Steve Madden licenses certain of its brands to third parties for the marketing and sale of certain products in the apparel, accessory and home categories.
Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include, among others, statements regarding revenue and earnings guidance, plans, strategies, objectives, expectations and intentions. Forward-looking statements can be identified by words such as: “may,” “will,” “expect,” “believe,” “should,” “anticipate,” “project,” “predict,” “plan,” “intend,” “estimate,” or “confident,” and similar expressions or the negative of these expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they represent the Company’s current beliefs, expectations, and assumptions regarding anticipated events and trends affecting its business and industry based on information available as of the time such statements are made. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which may be outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in these forward-looking statements. As such, investors should not rely upon them. Important risk factors include:
our ability to accurately anticipate fashion trends and promptly respond to consumer demand;our ability to compete effectively in a highly competitive market;our ability to adapt to our business model to rapid changes in the retail industry;our dependence on the hiring and retention of key personnel;our ability to successfully implement growth strategies and integrate acquired businesses;changes in trade policies, additional tariffs on product imported to the United States, retaliatory trade actions taken by other countries, and resulting trade wars;supply chain disruptions to product delivery systems and logistics, and our ability to properly manage inventory;geopolitical tensions in the regions in which we operate and any related challenging macroeconomic conditions globally that may materially adversely affect our customers, vendors, and partners, and the duration and extent to which these factors may impact our future business and operations, results of operations, and financial condition;our reliance on independent manufacturers to produce and deliver products in a timely manner or to meet our quality standards if we experience a supply chain disruption and we are unable to secure an alternative source of raw materials or end products;our dependence on one or more of our significant customers;quarterly fluctuations of our financial results; extreme or unseasonable weather conditions in locations where we or our customers and suppliers are located;fluctuation of our stock price if our operating results are inconsistent with our forecasts or those of analysts who follow us;our exposure to risks related to integrating the operations, systems, processes, reporting, supply chains, and personnel of Kurt Geiger into our business;our exposure to risks associated with increased indebtedness used to finance the acquisition of Kurt Geiger, including related debt service requirements;our ability to manage risks associated with substantial goodwill and intangible assets recorded from the acquisition of Kurt Geiger, which could subsequently become impaired upon adverse changes to the business environment in which we operate;disruption of our information technology systems or e-commerce platforms;cybersecurity risks and costs of defending against, mitigating, and responding to data security threats and breaches impacting the Company;our ability to effectively implement artificial intelligence and data-driven technologies across our operations, and the risks that such technologies may not perform as expected, may be subject to regulatory constraints, or may increase operational, legal, or cybersecurity risks;litigation or other legal proceedings could divert management resources and result in costs;legal, regulatory, political, and economic risks that may affect our operations in international markets;exposure to foreign exchange rate fluctuations;our ability to adequately protect our trademarks and other intellectual property rights;changes in economic conditions;additional tax liabilities resulting from audits by various taxing authorities;changes in U.S. and foreign tax laws that could have an adverse effect on our financial results;the loss of a significant license;the actions of our licensees and diminished brand integrity;the actions of our licensees or the loss of a significant licensee and diminished brand integrity;failure of our manufacturers, the manufacturers used by our licensees, or our licensees themselves to use acceptable labor practices or to otherwise comply with local laws and other standards;our ability to maintain effective internal control over our financial reporting; andother risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission. The Company does not undertake, and disclaims, any obligation to publicly update any forward-looking statement, including, without limitation, any guidance regarding revenue or earnings, whether as a result of new information, future developments, or otherwise.
STEVEN MADDEN, LTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended March 31, 2026 March 31, 2025 Net sales $649,660 $551,382 Licensing fee income 3,436 2,152 Total revenue 653,096 553,534 Cost of sales 295,676 327,267 Gross profit 357,420 226,267 Operating expenses 258,293 177,263 Change in valuation of contingent payment liability 385 (4,495)Income from operations 98,742 53,499 Interest and other (expense) / income, net (3,605) 829 Income before provision for income taxes 95,137 54,328 Provision for income taxes 23,494 13,068 Net income 71,643 41,260 Less: net (loss) / income attributable to noncontrolling interest (179) 837 Net income attributable to Steven Madden, Ltd. $71,822 $40,423 Basic income per share $1.01 $0.57 Diluted income per share $1.00 $0.57 Basic weighted average common shares outstanding 71,163 70,773 Diluted weighted average common shares outstanding 71,876 71,055 Cash dividends declared per common share $0.21 $0.21 STEVEN MADDEN, LTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
As of March 31, 2026 December 31, 2025 March 31, 2025 (Unaudited) (Unaudited)ASSETS Current assets: Cash and cash equivalents $77,157 $112,423 $144,762Short-term investments — — 2,480Accounts receivable, net of allowances 97,098 91,854 70,830Factor accounts receivable 346,497 311,563 387,706Inventories 379,369 417,016 238,641Prepaid expenses and other current assets 139,553 46,759 34,908Income tax receivable and prepaid income taxes 9,252 21,084 6,686Total current assets 1,048,926 1,000,699 886,013Property and equipment, net 112,342 115,802 65,853Operating lease right-of-use asset 237,305 235,855 152,689Deposits and other 22,791 22,764 22,040Deferred tax assets 3,220 3,220 610Goodwill 254,154 254,518 187,441Intangibles, net 276,222 281,419 112,555Total Assets $1,954,960 $1,914,277 $1,427,201LIABILITIES Current liabilities: Accounts payable $195,725 $197,247 $217,192Accrued expenses and other current liabilities 193,664 258,794 110,327Operating leases - current portion 61,892 58,827 45,526Income taxes payable 13,192 4,488 18,855Accrued incentive compensation 6,921 6,351 2,654Total current liabilities 471,394 525,707 394,554Contingent payment liability - long-term portion 15,265 14,880 3,070Operating leases - long-term portion 191,929 193,145 120,730Long-term debt 286,497 234,166 —Deferred tax liabilities 36,329 36,142 5,067Other liabilities 6,298 6,255 104Total Liabilities 1,007,712 1,010,295 523,525 STOCKHOLDERS’ EQUITY Total Steven Madden, Ltd. stockholders’ equity 913,152 866,388 875,344Noncontrolling interest 34,096 37,594 28,332Total stockholders’ equity 947,248 903,982 903,676Total Liabilities and Stockholders’ Equity $1,954,960 $1,914,277 $1,427,201 STEVEN MADDEN, LTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Three Months Ended March 31, 2026 March 31, 2025Cash flows from operating activities: Net income $71,643 $41,260 Adjustments to reconcile net income to net cash provided by operating activities: Stock-based compensation 7,279 7,155 Depreciation and amortization 9,358 5,253 Amortization of debt issuance costs 441 — Loss on disposal of fixed assets 100 1 Deferred taxes 32 441 Change in valuation of contingent payment liability 385 (4,495)Other operating activities 100 (843)Changes, net of acquisitions, in: Accounts receivable (6,448) (23,229)Factor accounts receivable (35,574) (38,988)Inventories 34,266 23,866 Prepaid expenses, income tax receivables, prepaid taxes, and other assets (83,431) 3,069 Accounts payable, accrued expenses, and other current liabilities (55,335) (15,357)Accrued incentive compensation 595 (12,419)Leases and other liabilities 1,252 (4,546) Net cash used in operating activities (55,337) (18,832) Cash flows from investing activities: Capital expenditures (5,901) (9,847)Maturity / sale of short-term investments — 11,038 Other investing activities — (2,196)Net cash used in investing activities (5,901) (1,005) Cash flows from financing activities: Common stock repurchased and net settlements of stock awards (7,367) (7,770)Borrowings, net of repayments 52,000 — Cash dividends paid on common stock (15,290) (15,186)Distribution of noncontrolling interest (2,924) (2,946)Net cash provided by / (used in) financing activities 26,419 (25,902)Effect of exchange rate changes on cash and cash equivalents (447) 577 Net decrease in cash and cash equivalents (35,266) (45,162)Cash and cash equivalents – beginning of period 112,423 189,924 Cash and cash equivalents – end of period $77,157 $144,762 STEVEN MADDEN, LTD. AND SUBSIDIARIES
NON-GAAP RECONCILIATION
(In thousands, except per share amounts)
(Unaudited)
The Company uses non-GAAP financial information to evaluate its operating performance and in order to represent the manner in which the Company conducts and views its business. Additionally, the Company believes the information assists investors in comparing the Company’s performance across reporting periods on a consistent basis by excluding items that are not indicative of its core business. The non-GAAP financial information is provided in addition to, and not as an alternative to, the Company’s reported results prepared in accordance with GAAP.
Table 1 - Reconciliation of GAAP gross profit to Adjusted gross profit Three Months Ended March 31, 2026 March 31, 2025 GAAP gross profit $357,420 $226,267Non-GAAP Adjustments (55,090) 280Adjusted gross profit $302,330 $226,547 Table 2 - Reconciliation of GAAP operating expenses to Adjusted operating expenses Three Months Ended March 31, 2026 March 31, 2025 GAAP operating expenses $258,293 $177,263 Non-GAAP Adjustments (2,264) (6,796)Adjusted operating expenses $256,029 $170,467 Table 3 - Reconciliation of GAAP income from operations to Adjusted income from operations Three Months Ended March 31, 2026 March 31, 2025 GAAP income from operations $98,742 $53,499Non-GAAP Adjustments (52,441) 2,580Adjusted income from operations $46,301 $56,079 Table 4 - Reconciliation of GAAP provision for income taxes to Adjusted provision for income taxes Three Months Ended March 31, 2026 March 31, 2025 GAAP provision for income taxes $23,494 $13,068Non-GAAP Adjustments (12,684) 612Adjusted provision for income taxes $10,810 $13,680 Table 5 - Reconciliation of GAAP net income attributable to Steven Madden, Ltd. to Adjusted net income attributable to Steven Madden, Ltd. Three Months Ended March 31, 2026 March 31, 2025 GAAP net income attributable to Steven Madden, Ltd. $71,822 $40,423Non-GAAP Adjustments (39,757) 1,968Adjusted net income attributable to Steven Madden, Ltd. $32,065 $42,391 GAAP diluted net income per share $1.00 $0.57 Adjusted diluted net income per share $0.45 $0.60 Table 6 - Reconciliation of GAAP diluted net income per share to Adjusted diluted net income per share in fiscal 2026 outlook Fiscal 2026 Outlook Low End High End GAAP diluted net income per share $2.55 $2.65 Non-GAAP Adjustments (0.55) (0.55)Adjusted diluted net income per share $2.00 $2.10 Non-GAAP Adjustments include the items below.
For the first quarter of 2026:
$55.1 million pre-tax ($41.8 million after-tax) benefit in connection with the expected recovery of previously incurred tariffs, imposed under the International Emergency Economic Powers Act, on inventory sold in the prior year, included in cost of sales.$1.2 million pre-tax ($0.9 million after-tax) expense in connection with severances and related charges, included in operating expenses.$0.8 million pre-tax ($0.6 million after-tax) expense in connection with legal settlements and related fees, included in operating expenses.$0.3 million pre-tax ($0.2 million after-tax) expense in connection with an acquisition and formation of joint ventures, included in operating expenses.$0.4 million pre-tax ($0.3 million after-tax) net expense in connection with the change in valuation of contingent payment liabilities related to acquisitions.
For the first quarter of 2025:
$0.3 million pre-tax ($0.2 million after-tax) expense in connection with the purchase accounting fair value adjustment of inventory from acquired businesses, included in cost of sales.$1.2 million pre-tax ($0.9 million after-tax) expense in connection with legal settlements and related fees, included in operating expenses.$2.4 million pre-tax ($1.8 million after-tax) expense in connection with severances and related charges, included in operating expenses.$3.2 million pre-tax ($2.4 million after-tax) expense in connection with an acquisition and formation of joint ventures, included in operating expenses.$4.5 million pre-tax ($3.4 million after-tax) net benefit in connection with the change in valuation of contingent payment liabilities related to acquisitions.
Contact
Steven Madden, Ltd.
VP of Corporate Development & Investor Relations
Danielle McCoy
718-308-2611 [email protected]
Steven Madden (SHOO - Free Report) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.6 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +7.99%. A quarter ago, it was expected that this footwear and accessories retailer would post earnings of $0.46 per share when it actually produced earnings of $0.48, delivering a surprise of +4.35%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Steven Madden, which belongs to the Zacks Shoes and Retail Apparel industry, posted revenues of $653.1 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.44%. This compares to year-ago revenues of $553.53 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Steven Madden shares have lost about 9.5% since the beginning of the year versus the S&P 500's gain of 6%.
What's Next for Steven Madden?While Steven Madden has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Steven Madden was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.33 on $624.09 million in revenues for the coming quarter and $2.09 on $2.81 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Shoes and Retail Apparel is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Caleres Inc. (CAL - Free Report) , has yet to report results for the quarter ended April 2026.
This footwear wholesaler and retailer is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of +27.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Caleres Inc.'s revenues are expected to be $652.43 million, up 6.2% from the year-ago quarter.
Key Takeaways Steven Madden beat Q1 estimates as revenue rose 18% on strong DTC and Kurt Geiger growth.SHOO raised its fiscal 2026 revenue outlook and expects earnings growth to resume in Q2.Steven Madden brand searches rose 27%, reflecting strong consumer demand and sell-through trends. Steven Madden, Ltd. (SHOO - Free Report) reported fiscal first-quarter 2026 results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. The top line increased year over year.
Shares gained investor attention after the company highlighted strong momentum across its core brands, particularly Steven Madden and Kurt Geiger. Online searches for the Steven Madden brand increased 27% during the quarter. Management pointed to healthy consumer demand, strong sell-through trends at department stores and improving traction in direct-to-consumer channels.
The company also raised its fiscal 2026 revenue outlook, supported by better-than-expected performance from Kurt Geiger, Steven Madden and Dolce Vita. Investors were additionally encouraged by management’s confidence in returning to earnings growth in the fiscal second quarter and delivering strong growth for the full year. As a result, shares of SHOO have gained nearly 6.2%.
SHOO’s Q1 Performance: Key InsightsSHOO posted adjusted earnings of 45 cents per share, which beat the Zacks Consensus Estimate of 42 cents. However, the bottom line declined 25% from 60 cents in the prior-year quarter.
Total revenues rose 18% year over year to $653.1 million from $553.5 million, surpassing the Zacks Consensus Estimate of $643.8 million.
SHOO’s Segmental PerformanceWholesale revenues increased 1% year over year to $443.6 million, missing our estimated mark of $479.7 million. Excluding Kurt Geiger, wholesale revenues declined 8.2%, primarily due to softness in private label. Adjusted gross margin in the segment increased to 49.2% from 35.7% in the prior-year period, driven by higher average selling prices, favorable business mix and lower private-label penetration.
Wholesale footwear revenues were $278.9 million, declining 5.8%, but declined 12%, excluding Kurt Geiger. This missed our estimated mark of $317.4 million. While wholesale accessories/apparel revenues rose 15.1% year over year to $164.8 million, they dipped 0.5%, excluding Kurt Geiger. The figure beat our estimated mark of $162.4 million.
Direct-to-consumer revenues jumped 83.8% year over year to $206 million, beating our estimated mark of $156.1 million. However, excluding Kurt Geiger, DTC revenues increased 8% year over year, reflecting growth across brick-and-mortar and e-commerce channels. Adjusted gross margin in the segment increased to 60.8% from 60.1% in the prior-year period, supported by the addition of the Kurt Geiger business and a modest improvement in the organic business.
Licensing royalty income increased to $3.4 million in the quarter from $2.2 million in the first quarter of 2025, reflecting year-over-year growth in royalty-related earnings during the period. This also beat our estimated mark of $2.2 million.
International comparable sales decreased 5% during the period. However, excluding stores in the Middle East, international comparable sales increased 1%. The company ended the quarter with 387 company-operated brick-and-mortar stores, including 95 outlets, along with eight e-commerce websites and 162 company-operated concessions in international markets.
SHOO’s Margin & Cost PerformanceAdjusted gross profit increased 33.5% year over year to $302.3 million from $226.5 million in the same period of 2025. Adjusted gross margin also expanded to 46.3% from 40.9% in the prior-year period, reflecting improved profitability and margin performance.
Adjusted operating expenses increased 50.2% to $256 million from $170.5 million in the same period of 2025. Adjusted operating expenses, as a percentage of revenue, also rose to 39.2% from 30.8% in the prior-year period.
Adjusted income from operations declined 17.4% year over year to $46.3 million from $56.1 million in the same period last year. As a percentage of revenue, adjusted income from operations decreased to 7.1% from 10.1% in the prior-year period.
SHOO’s Financial Health SnapshotAs of March 31, 2026, Steven Madden had $77.2 million in cash and cash equivalents and $286.5 million in total debt, resulting in net debt of $209.3 million. Inventories totaled $379.4 million, up from $238.6 million in the year-ago period, though inventories declined 2.5% excluding Kurt Geiger.
Capital expenditures during the quarter totaled $5.9 million. The company did not repurchase shares in the open market during the quarter. Its board approved a quarterly cash dividend of 21 cents per share, payable on June 19, 2026, to shareholders of record as of June 8.
SHOO’s Outlook for Fiscal 2026Steven Madden raised its fiscal 2026 revenue guidance and now expects revenues to increase in the range of 10-12% from fiscal 2025 levels compared with the prior expectation of 9-11% growth. The company expects adjusted EPS between $2.00 and $2.10 for fiscal 2026.
Management expects mid- to high-single-digit revenue growth for the Steven Madden brand, mid-teens pro forma revenue growth for Kurt Geiger and high-single-digit revenue growth for Dolce Vita. The company also expects a return to earnings growth beginning in the second quarter, continued year-over-year gross margin improvement through the balance of the year and SG&A growth of around 25% in the second quarter, low teens in the third quarter and high singles in the fourth quarter.
In the past three months, shares of this Zacks Rank #2 (Buy) company have gained 9.5% against the industry’s 27.4% decline.
Image Source: Zacks Investment Research
Other Stocks to ConsiderSome other top-ranked stocks have been discussed below:
Carter’s, Inc. (CRI - Free Report) designs, sources, and markets branded children's wear in the United States and internationally. At present, CRI currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CRI’s current fiscal-year sales implies growth of 4.3%, and the same for earnings implies a decline of 13.8% from the year-ago figures. CRI delivered a trailing four-quarter negative earnings surprise of 7.3%, on average.
Under Armour, Inc. (UAA - Free Report) , together with its subsidiaries, engages in developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. At present, Under Armour sports a Zacks Rank of 1.
The Zacks Consensus Estimate for Under Armour’s current fiscal-year sales and earnings implies a decline of 3.9% and 64.5%, respectively, from the year-ago figures. UAA has delivered a trailing four-quarter earnings surprise of 140.3 %, on average.
Columbia Sportswear Company (COLM - Free Report) engages in the design, development, marketing, and distribution of outdoor, active, and lifestyle products in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. At present, COLM flaunts a Zacks Rank of 1.
The Zacks Consensus Estimate for COLM’s current fiscal-year sales implies growth of 2.3%, and the same for earnings indicates a decline of 1.9% from the year-ago figures. COLM delivered a trailing four-quarter earnings surprise of 44.1%, on average.
Steven Madden (SHOO - Free Report) reported $653.1 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 18%. EPS of $0.45 for the same period compares to $0.60 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $643.82 million, representing a surprise of +1.44%. The company delivered an EPS surprise of +7.99%, with the consensus EPS estimate being $0.42.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Steven Madden performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- International: $227.96 million compared to the $155.71 million average estimate based on two analysts.Revenue- Domestic: $425.13 million compared to the $486.55 million average estimate based on two analysts.Total Revenue- Net Sales: $649.66 million versus $642.45 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.8% change.Total Revenue- Commission and licensing fee income: $3.44 million versus $2.14 million estimated by three analysts on average.Revenue- Direct-to-Consumer: $206.01 million versus the three-analyst average estimate of $150 million.Total Revenue- Wholesale Accessories/Apparel: $164.78 million versus $149.56 million estimated by three analysts on average.Revenue- Total Wholesale: $443.65 million versus $450.88 million estimated by three analysts on average.Total Revenue- Wholesale Footwear: $278.87 million versus the three-analyst average estimate of $301.31 million.Income from operations- Wholesale Footwear: $80.38 million versus the two-analyst average estimate of $55.36 million.Income from operations- Wholesale Accessories/Apparel: $43.95 million versus the two-analyst average estimate of $15.56 million.Income from operations- Corporate: $-27.17 million versus the two-analyst average estimate of $-23.27 million.Income from operations- Direct-to-Consumer: $-1.58 million compared to the $-9.37 million average estimate based on two analysts.View all Key Company Metrics for Steven Madden here>>>
Shares of Steven Madden have returned +7% over the past month versus the Zacks S&P 500 composite's +9.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Companies in the Zacks Shoes and Retail Apparel industry are benefiting from premium brands, product innovation and accelerating digital adoption. Consumers continue to favor performance-oriented, high-quality products that combine comfort, durability and style, supporting stronger pricing power and brand loyalty. Advances in cushioning technologies, sustainable materials and customization, alongside expanding direct-to-consumer and e-commerce platforms, are improving margins, customer engagement and brand control.
However, the industry faces meaningful pressure from elevated promotions, excess inventory and cautious consumer spending. Rising costs for materials, freight and wages are also weighing on profitability, while demand volatility amid macroeconomic uncertainty continues to challenge revenue visibility and earnings growth.
Looking ahead, sustainable growth will depend on innovation, digital capabilities, supply-chain agility and deeper consumer engagement. Established players such as adidas AG (ADDYY - Free Report) , Steven Madden, Ltd. (SHOO - Free Report) , Carter’s, Inc. (CRI - Free Report) , Wolverine World Wide, Inc. (WWW - Free Report) and Caleres, Inc. (CAL - Free Report) appear well-positioned to manage near-term headwinds while pursuing long-term growth opportunities.
About the Industry The Zacks Shoes and Retail Apparel industry comprises companies that design, source and market clothing, footwear and accessories for men, women and children under various brand names. Product offerings of the companies mostly include athletic and casual footwear, fashion apparel and activewear, sports equipment, bags, balls, and other sports and fashion accessories. The companies showcase their products through their branded outlets and websites. Some companies distribute products via other retail stores, such as national chains, online retailers, sporting goods stores, department stores, mass merchandisers, independent retailers and catalogs.
A Look at What's Shaping the Shoes & Retail Apparel Industry Premiumization & Performance Innovation: The Shoes and Retail Apparel industry is benefiting from a powerful shift toward premium, performance-led products. Consumers are increasingly prioritizing functionality, comfort and durability, whether in running shoes, athleisure or everyday wear. Innovations in cushioning technology, sustainable fabrics and customization are allowing brands to command higher price points while deepening customer loyalty. The rise of health-conscious lifestyles and sports participation has fueled the demand for technical footwear and versatile apparel that seamlessly transitions from workouts to daily wear. As brands blend fashion with performance, premiumization continues to support stronger margins and brand differentiation.
Direct-to-Consumer Expansion & Digital Acceleration: Another major growth engine for the Shoes and Retail Apparel market is the rapid expansion of direct-to-consumer (DTC) channels and digital commerce. Brands are investing heavily in e-commerce platforms, mobile apps and data analytics to strengthen customer relationships and improve inventory efficiency. Investments in faster delivery, supply-chain efficiency and fulfillment enhancements are sharpening competitive edges. Personalized marketing, membership programs and seamless omnichannel experiences are enhancing engagement while reducing the reliance on third-party retailers. Faster supply-chain models and localized production are improving responsiveness to trends. As digital penetration rises and brands gain better control over pricing and distribution, the industry is positioned for more sustainable, profitable growth.
Margin Pressure From Promotions & Cost Inflation: Industry players continue to grapple with sustained margin pressure as promotional intensity remains elevated across channels. Excess inventory, cautious consumer spending and aggressive discounting by competitors are forcing brands to sacrifice pricing power to drive volumes. At the same time, input cost inflation, spanning raw materials, freight, wages and sourcing, continues to weigh on profitability. Even as supply chains stabilize from the prior years, structural cost increases and an unfavorable product mix are limiting margin recovery. The result is a tougher operating environment where revenue growth does not always translate to earnings expansion. Consumer demand remains uneven, shaped by macroeconomic uncertainty and shifting spending priorities. Discretionary categories like footwear and apparel are often the first to feel pressure during periods of inflation or economic slowdown.
Zacks Industry Rank Indicates Bright Prospects The Zacks Shoes and Retail Apparel Industry is a seven-stock group within the broader Zacks Consumer Discretionary sector. The industry currently carries a Zacks Industry Rank #60, which places it in the top 25% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bright prospects for the near term. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
The industry’s positioning in the top 50% of the Zacks-ranked industries is the result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group’s earnings growth potential.
Before we present a few stocks that you may want to consider for your portfolio, let us look at the industry’s recent stock market performance and valuation picture.
Industry vs. Sector The Zacks Shoes and Retail Apparel industry has underperformed the sector and outperformed the S&P 500 in the past year.
Stocks in the industry have collectively declined 25.8% in the past year. Meanwhile, the Zacks Consumer Discretionary sector has fallen 11.4%, while the Zacks S&P 500 composite has risen 30.3%.
1-Year Price Performance
Shoes & Retail Apparel Industry's Valuation On the basis of forward 12-month price-to-earnings (P/E), commonly used for valuing Consumer Discretionary stocks, the industry is currently trading at 20.87X compared with the S&P 500’s 22.06X and the sector’s 16.77X.
Over the last five years, the industry traded as high as 37.1X and as low as 20.83X, with a median of 26.05X, as the chart below shows.
Price-to-Earnings Ratio (Past 5 Years)
5 Shoes & Retail Apparel Stocks to Watch Caleres: This Saint Louis, MO-based company designs, develops, sources, manufactures and distributes footwear in the United States, Canada, East Asia and internationally. Caleres offers a steadily improving investment case, supported by strong momentum in its brand portfolio, wherein lead brands continue to gain share and deliver healthy growth. The recent addition of Stuart Weitzman expands its premium positioning, with integration efforts expected to unlock meaningful cost synergies over time. The company is also seeing improving trends at Famous Footwear and strong e-commerce traction, signaling stabilizing consumer demand.
Caleres is prioritizing cost discipline, inventory management and structural efficiencies. These actions position the company for more durable margins and a stronger long-term financial profile. CAL has a trailing four-quarter earnings surprise of 0.6%, on average. The Zacks Consensus Estimate for the company’s fiscal 2026 sales and earnings indicates growth of 4.3% and 31.9%, respectively, from the year-ago quarter’s reported figures. The consensus estimate for CAL’s fiscal 2026 EPS has moved up 4.7% in the past seven days. Shares of this Zacks Rank #1 (Strong Buy) company have declined 18.5% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Price & Consensus: CAL
adidas: This leading manufacturer and seller of athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia Pacific and Latin America is poised to gain from strong demand, compelling products and the robust performance of its online business. ADDYY has been benefiting from improved sell-through of all Adidas products in the market. The company has been witnessing improved margins, driven by the recently implemented price increases and an improved channel mix.
The Zacks Consensus Estimate for ADDYY’s 2026 sales and earnings indicates growth of 10.5% and 29.4%, respectively, from the year-ago quarter’s reported figures. The consensus estimate for ADDYY’s 2026 EPS has edged down 2.2% in the past 30 days. adidas delivered a negative earnings surprise of 0.8%, on average, in the trailing four quarters. This Zacks Rank #3 (Hold) stock has declined 28.3% in the past year.
Price & Consensus: ADDYY
Steven Madden: This Long Island City, NY-based company is well-positioned to deliver durable upside, driven by a strategic shift toward higher-margin direct-to-consumer channels, where accelerating online and owned-store growth enhances pricing power and customer economics. The company’s acquisition of a complementary international DTC platform meaningfully expands scale, improves geographic mix and unlocks revenue and margin synergies through distribution and marketing integration.
Steve Madden continues to deepen consumer engagement and cultural relevance, particularly among Gen Z and millennials, key demographics for growth. SHOO has a trailing four-quarter negative earnings surprise of 1.9%, on average. The Zacks Consensus Estimate for the company’s 2026 sales and earnings indicates growth of 11.8% and 22.9%, respectively, from the year-ago quarter’s reported figures. The consensus estimate for SHOO’s 2026 EPS has increased 1.5% in the past seven days. Shares of this Zacks Rank #3 company have rallied 60% in the past year.
Price & Consensus: SHOO
Carter’s: This is the leading marketer of branded apparel and products for babies and young children in North America. The company has taken significant steps in pricing to adapt to market conditions and boost profitability. Its emphasis on essential core products and strong value offerings, particularly in inflationary markets, appeals to budget-conscious shoppers. Carter’s has also seen a notable increase in margin rates due to reduced inbound freight costs, which is a key factor in margin growth. This reflects the company's focus on efficient cost management and operational improvements.
The Zacks Consensus Estimate for CRI’s 2026 sales indicates growth of 4.3% from the year-ago quarter’s reported figure, while the same for its EPS suggests an 11.8% year-over-year decline. The consensus estimate for CRI’s 2026 EPS has moved up 2.3% in the past 30 days. The company has a trailing four-quarter earnings surprise of 100.8%, on average. Shares of this Zacks Rank #3 company have risen 14.8% in the past year.
Price & Consensus: CRI
Wolverine: The company is engaged in designing, manufacturing and distributing a wide variety of casual and active apparel and footwear. It also manufactures children’s footwear and specially designed boots and accessories for industrial purposes. Wolverine’s focus on brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage bode well. The company continues to focus on strengthening its DTC business. Speed-to-market initiatives, deployment of digital product development tools, expansion of e-commerce platforms and frequent product introductions are steadily contributing to Wolverine’s performance.
The Zacks Consensus Estimate for WWW’s 2026 sales and earnings suggests growth of 6.1% and 14.9%, respectively, from the year-ago quarter’s reported figures. The consensus estimate for WWW’s 2026 EPS has moved up 1.3% in the past seven days. The company has a trailing four-quarter earnings surprise of 19.3%, on average. Shares of this Zacks Rank #3 company have declined 5.9% in the past year.
A month has gone by since the last earnings report for Steven Madden (SHOO - Free Report) . Shares have added about 12.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Steven Madden due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Steven Madden, Ltd. before we dive into how investors and analysts have reacted as of late.
SHOO Q1 Earnings Beat Estimates, FY26 Revenue Outlook RaisedSteven Madden reported fiscal first-quarter 2026 results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. The top line increased year over year. The company highlighted strong momentum across its core brands, particularly Steven Madden and Kurt Geiger. Online searches for the Steven Madden brand increased 27% during the quarter. Management pointed to healthy consumer demand, strong sell-through trends at department stores and improving traction in direct-to-consumer channels. The company also raised its fiscal 2026 revenue outlook, supported by better-than-expected performance from Kurt Geiger, Steven Madden and Dolce Vita.
SHOO’s Q1 Performance: Key InsightsSHOO posted adjusted earnings of 45 cents per share, which beat the Zacks Consensus Estimate of 42 cents. However, the bottom line declined 25% from 60 cents in the prior-year quarter.
Total revenues rose 18% year over year to $653.1 million from $553.5 million, surpassing the Zacks Consensus Estimate of $643.8 million.
SHOO’s Segmental PerformanceWholesale revenues increased 1% year over year to $443.6 million. Excluding Kurt Geiger, wholesale revenues declined 8.2%, primarily due to softness in private label. Adjusted gross margin in the segment increased to 49.2% from 35.7% in the prior-year period, driven by higher average selling prices, favorable business mix and lower private-label penetration.
Wholesale footwear revenues were $278.9 million, declining 5.8%, but declined 12%, excluding Kurt Geiger. While wholesale accessories/apparel revenues rose 15.1% year over year to $164.8 million, they dipped 0.5%, excluding Kurt Geiger.
Direct-to-consumer revenues jumped 83.8% year over year to $206 million. However, excluding Kurt Geiger, DTC revenues increased 8% year over year, reflecting growth across brick-and-mortar and e-commerce channels. Adjusted gross margin in the segment increased to 60.8% from 60.1% in the prior-year period, supported by the addition of the Kurt Geiger business and a modest improvement in the organic business.
Licensing royalty income increased to $3.4 million in the quarter from $2.2 million in the first quarter of 2025, reflecting year-over-year growth in royalty-related earnings during the period.
International comparable sales decreased 5% during the period. However, excluding stores in the Middle East, international comparable sales increased 1%.
SHOO’s Margin & Cost PerformanceAdjusted gross profit increased 33.5% year over year to $302.3 million from $226.5 million in the same period of 2025. Adjusted gross margin also expanded to 46.3% from 40.9% in the prior-year period, reflecting improved profitability and margin performance.
Adjusted operating expenses increased 50.2% to $256 million from $170.5 million in the same period of 2025. Adjusted operating expenses, as a percentage of revenue, also rose to 39.2% from 30.8% in the prior-year period.
Adjusted income from operations declined 17.4% year over year to $46.3 million from $56.1 million in the same period last year. As a percentage of revenue, adjusted income from operations decreased to 7.1% from 10.1% in the prior-year period.
SHOO’s Financial Health SnapshotAs of March 31, 2026, Steven Madden had $77.2 million in cash and cash equivalents and $286.5 million in total debt, resulting in net debt of $209.3 million. Inventories totaled $379.4 million, up from $238.6 million in the year-ago period, though inventories declined 2.5% excluding Kurt Geiger.
Capital expenditures during the quarter totaled $5.9 million. The company did not repurchase shares in the open market during the quarter. Its board approved a quarterly cash dividend of 21 cents per share, payable on June 19, 2026, to shareholders of record as of June 8.
SHOO’s Outlook for Fiscal 2026Steven Madden raised its fiscal 2026 revenue guidance and now expects revenues to increase in the range of 10-12% from fiscal 2025 levels compared with the prior expectation of 9-11% growth. The company expects adjusted EPS between $2.00 and $2.10 for fiscal 2026.
Management expects mid- to high-single-digit revenue growth for the Steven Madden brand, mid-teens pro forma revenue growth for Kurt Geiger and high-single-digit revenue growth for Dolce Vita. The company also expects a return to earnings growth beginning in the second quarter, continued year-over-year gross margin improvement through the balance of the year and SG&A growth of around 25% in the second quarter, low teens in the third quarter and high singles in the fourth quarter.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates review.
The consensus estimate has shifted -6.06% due to these changes.
VGM ScoresAt this time, Steven Madden has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Steven Madden has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
