Steven Madden Q2 Revenue Jumps 19% to $665.9M, Gross Margin Expands, and $92M Tariff Refund Received
SHOO has more than doubled off its 52-week low of $23.15.
Summary
Steven Madden reported Q2 2026 revenue of $665.9M (+19% YoY), gross margin expansion to 46.5%, and net income of $27.7M vs. a loss last year. The company received a $92.1M tariff refund and reduced debt by $110M.
Key Events · Earnings and Guidance · SHOO
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Revenue Up 19% to $665.9M
Q2 2026 total revenue rose 19.1% to $665.9 million, driven by the Kurt Geiger acquisition and strong branded business performance, partially offset by a decline in private label.
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Gross Margin Expands to 46.5%
Gross profit margin improved to 46.5% from 40.4% a year ago, reflecting higher average selling prices, reduced promotional activity, and a smaller tariff impact.
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Net Income Swings to $27.7M Profit
Net income attributable to Steven Madden was $27.7 million, or $0.38 per diluted share, compared to a loss of $39.5 million in Q2 2025, which included $38.8 million in acquisition-related compensation costs.
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$92.1M IEEPA Tariff Refund Received
The company received $92.1 million from the U.S. Treasury related to its IEEPA tariff refund claim, including $3.1 million in statutory interest, boosting cash and reducing the term loan.
Analysis · SHOO · Manufacturing
A standout second quarter saw revenue climb 19% year-over-year to $665.9 million, fueled by the Kurt Geiger acquisition and continued momentum in the legacy branded business. Gross margin expanded sharply to 46.5% from 40.4%, benefiting from higher average selling prices, lower promotional activity, and a reduced tariff burden. The quarter also brought a $92.1 million IEEPA tariff refund, which strengthened cash reserves and enabled significant debt reduction. Net income swung to a $27.7 million profit, reversing a $39.5 million loss a year ago that had been weighed down by acquisition-related charges. The balance sheet improved further as the term loan was paid down by $110 million. The board declared a $0.21 quarterly dividend, consistent with prior quarters.
At the time of this filing, SHOO was trading at $46.83 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $3.4B. The 52-week trading range was $23.15 to $48.76. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.