By Josée Rose
Steve Madden said it expects significant near-term headwinds and increased uncertainty due to tariffs and withdrew its 2025 guidance.
The designer and footwear retailer said it isn't issuing any expectations at this time and is focusing on mitigating near-term impacts from tariffs. It had provided the guidance in February.
Meanwhile, first-quarter profit fell to $40.4 million, or 57 cents a share, from $43.9 million, or 60 cents a share, a year earlier. Analysts polled by Factset had expected earnings of 47 cents a share.
Adjusted earnings fell to 60 cents a share, compared with analysts' expectations of 45 cents a share.
The current quarter included a loss related to a change in valuation of contingent payment liability, the company said.
The retailer said revenue ticked up to $553.5 million. Analysts had been expecting $557 million.
Write to Josée Rose at josee.rose@wsj.com
(END) Dow Jones Newswires
May 07, 2025 07:19 ET (11:19 GMT)
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