Overview

• US footwear and apparel firm's Q1 revenue rose 18%, slightly beating analyst expectations

• Adjusted EPS for Q1 beat analyst expectations

• Company raised fiscal 2026 revenue guidance and introduced new EPS guidance

Outlook

• Steven Madden raises fiscal 2026 revenue guidance to up 10%-12% from prior year

• Company expects fiscal 2026 diluted EPS of $2.55-$2.65

• Company sees fiscal 2026 adjusted diluted EPS of $2.00-$2.10

Result Drivers

• KURT GEIGER ACQUISITION - Addition of Kurt Geiger brand drove revenue growth, especially in direct-to-consumer and wholesale channels

• PRODUCT ASSORTMENT & MARKETING - Co said healthy demand was driven by compelling product assortments and strong marketing execution, per CEO Edward Rosenfeld

• HIGHER OPERATING EXPENSES - Adjusted operating expenses rose as a percentage of revenue, weighing on adjusted income from operations

Company press release: ID:nGNX6w2lxj

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the footwear peer group is "buy"

• Wall Street's median 12-month price target for Steven Madden Ltd is $45.00, about 19.4% above its May 5 closing price of $37.69

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago

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