Steven Madden withholds annual profit forecast due to uncertainty around US tariffs
Steven Madden, Ltd. SHOO | 33.99 | -0.21% |
Feb 25 (Reuters) - Steven Madden SHOO.O on Wednesday said it would not provide its 2026 earnings forecast, citing uncertainty around the recent tariff-related developments in the United States.
The company's shares fell about 2% in premarket trading after it projected a fiscal 2026 revenue increase of 9% to 11%, compared to an 11% rise in 2025. Analysts had anticipated a 10.5% increase, according to data compiled by LSEG.
The maker of shoes and handbags has been grappling with pressures related to tariffs on goods imported into the U.S. as well as weak demand amid muted spending.
The United States imposed a 10% tariff on all non‑exempt goods, U.S. Customs and Border Protection said, sticking to the rate President Donald Trump first announced Friday rather than the 15% he floated a day later.
The tariff follows a Supreme Court ruling striking down earlier global duties deemed illegally justified under an emergency claim.
Steven Madden had also refrained from providing its fiscal 2025 annual forecast in July last year.
The New York-based company posted fourth-quarter revenue of $753.7 million, compared with estimates of $753.9 million.
