Steve Madden falls as annual profit forecast comes below expectations

Steven Madden

26/02/2025 18:30

** Shoe maker Steve Madden's SHOO.O shares down 6.5% at $35.41

** Company expects annual earnings per share in the range of $2.30 to $2.40, below analysts' expectation of $2.58, according to data compiled by LSEG

** Management called out meaningful headwinds in FY25, notably from tariffs, which drove a more cautious outlook — Telsey Advisory Group analyst Dana Telsey

** SHOO says outlook assumes the Kurt Geiger acquisition closes on May 1, 2025

** Posts quarterly net sales of $582.32 million, beating average estimate of $348.50

** SHOO stock rose 1.2% in 2024

 (Reporting by Aamir Sohail in Bengaluru)

 ((Aamir.Sohail@thomsonreuters.com))