Steven Madden (SHOO) Q2 2026 earnings summary

Executive summary

• Revenue grew 19.1% year-over-year to $665.9 million in Q2 2026, driven by the Kurt Geiger acquisition and strong branded business performance, with robust growth in both direct-to-consumer and wholesale channels.

• Adjusted net income was $31.7 million ($0.44 per diluted share), up from $13.9 million ($0.20 per diluted share) in Q2 2025; net income attributable to shareholders was $27.7 million, reversing a prior-year loss.

• Gross margin improved to 46.5% from 40.4% year-over-year, reflecting higher average selling prices, reduced promotional activity, and lower tariff impact.

• Operating income reached $44.5 million (6.7% of revenue), up from $22.6 million (4.0%) last year.

• Board expanded to 11 members with the appointment of Ken Pilot, bringing significant retail and technology expertise.

Financial highlights

• Consolidated revenue reached $665.9 million, up 19.1% year-over-year; excluding Kurt Geiger, revenue rose 11.2%.

• Wholesale revenue was $407.5 million (+13%), with footwear up 9% and accessories/apparel up 19.2%.

• Direct-to-consumer revenue grew 30.6% to $255.4 million, with double-digit growth in both brick-and-mortar and e-commerce.

• Gross margin improved to 46.5% from 41.9% last year, driven by higher average selling prices and reduced promotional activity.

• Cash and cash equivalents stood at $94.7 million; net debt was $30.1 million as of June 30, 2026.

Outlook and guidance

• Fiscal 2026 revenue growth guidance raised to 11%-13% (from 10%-12%) and adjusted diluted EPS to $2.05-$2.15 (from $2.00-$2.10); GAAP diluted EPS guidance reaffirmed at $2.55-$2.65.

• Expect Q3 to contribute more to second-half revenue and earnings than Q4, returning to a typical seasonal cadence.

• Steve Madden and Dolce Vita brands forecasted for high single-digit to low double-digit annual revenue growth.

• Private label business expected to decline mid to high teens for the year, while branded wholesale business targets high single-digit growth.

• The company expects to meet all financial commitments and operating needs for at least the next twelve months, supported by strong liquidity and a $250 million revolving credit facility.