Steven Madden | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 665.87 M

Revenue: As of FY2026 Q2, the actual value is USD 665.87 M, beating the estimate of USD 638.43 M.

EPS: As of FY2026 Q2, the actual value is USD 0.38.

EBIT: As of FY2026 Q2, the actual value is USD 39.32 M.

Quarterly Cash Dividend

Steven Madden, Ltd. declared a quarterly cash dividend of $0.21 per share on its outstanding common stock, payable on September 24, 2026, to stockholders of record as of September 11, 2026.

Consulting Services

Mr. Kenneth Pilot received $160,000 for consulting services provided to Steven Madden, Ltd. in 2025, with the arrangement terminating in July 2025.

Second Quarter 2026 Financial Results

Revenue

Steven Madden, Ltd.’s total revenue increased 19.1% to $665.9 million in the second quarter of 2026, up from $559.0 million in the same period of 2025.

Gross Profit

Gross profit as a percentage of revenue was 46.5% in the second quarter of 2026, compared to 40.4% in the second quarter of 2025. Adjusted gross profit as a percentage of revenue was 46.5%, compared to 41.9% in the same period of 2025.

Operating Expenses

Operating expenses as a percentage of revenue were 40.6% in the second quarter of 2026, compared to 47.2% in the second quarter of 2025. Adjusted operating expenses as a percentage of revenue were 39.8%, compared to 37.9% in the same period of 2025.

Income From Operations

Income from operations totaled $39.3 million, or 5.9% of revenue, in the second quarter of 2026, compared to -$40.3 million, or -7.2% of revenue, in the second quarter of 2025. Adjusted income from operations totaled $44.5 million, or 6.7% of revenue, compared to $22.6 million, or 4.0% of revenue, in the same period of 2025.

Net Income Attributable to Steven Madden, Ltd.

Net income attributable to Steven Madden, Ltd. was $27.7 million, or $0.38 per diluted share, compared to -$39.5 million, or -$0.56 per diluted share, in the second quarter of 2025. Adjusted net income attributable to Steven Madden, Ltd. was $31.7 million, or $0.44 per diluted share, compared to $13.9 million, or $0.20 per diluted share, in the same period of 2025.

Second Quarter 2026 Channel Results

Wholesale Business Revenue

Revenue for the wholesale business was $407.5 million, a 13.0% increase compared to the second quarter of 2025. Excluding Kurt Geiger, wholesale revenue increased 11.5%. Wholesale footwear revenue increased 9.0%, or 7.8% excluding Kurt Geiger. Wholesale accessories/apparel revenue increased 19.2%, or 17.5% excluding Kurt Geiger. Gross profit as a percentage of wholesale revenue was 35.2% in the second quarter of 2026, compared to 30.0% in the second quarter of 2025. Adjusted gross profit as a percentage of wholesale revenue was 35.2%, compared to 30.9% in the second quarter of 2025.

Direct-to-Consumer Business Revenue

Direct-to-consumer revenue was $255.4 million, a 30.6% increase compared to the second quarter of 2025. Excluding Kurt Geiger, direct-to-consumer revenue increased 11.1%. Gross profit as a percentage of direct-to-consumer revenue was 64.0%, compared to 58.7% in the second quarter of 2025. Adjusted gross profit as a percentage of direct-to-consumer revenue was 64.0%, compared to 61.3% in the second quarter of 2025.

Operational Presence

As of the end of the quarter, Steven Madden, Ltd. operated 382 Company-operated brick-and-mortar retail stores (including 92 outlets), 8 e-commerce websites, and 164 Company-operated concessions in international markets.

Balance Sheet Highlights (as of June 30, 2026)

Debt and Cash

Total debt outstanding was $124.8 million. Cash and cash equivalents were $94.7 million. Net debt, a non-GAAP financial measure, was $30.1 million.

Cash Flow (Six Months Ended June 30)

Operating Activities

Net cash provided by operating activities was $149,263 thousand in 2026, compared to $47,635 thousand in 2025.

Investing Activities

Net cash used in investing activities was -$15,739 thousand in 2026, compared to -$377,856 thousand in 2025.

Financing Activities

Net cash used in financing activities was -$151,502 thousand in 2026, compared to $249,466 thousand in 2025.

Fiscal 2026 Outlook

Steven Madden, Ltd. raised its fiscal 2026 revenue guidance, now expecting an increase of 11% to 13% compared to fiscal 2025. The company continues to project fiscal 2026 diluted EPS in the range of $2.55 to $2.65. Adjusted diluted EPS is now expected to be in the range of $2.05 to $2.15, an increase from the prior guidance range of $2.00 to $2.10.