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EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

Steve Madden Announces First Quarter 2026 Results

~ Raises Fiscal 2026 Revenue Guidance and Introduces Fiscal 2026 Earnings Guidance ~

LONG

ISLAND CITY, N.Y., May 6, 2026 – Steven Madden, Ltd. (Nasdaq: SHOO) (the “Company”), a leading designer and marketer of fashion-forward footwear, accessories and apparel, today announced financial results for the first quarter ended March 31, 2026.

Amounts referred to as “Adjusted” are non-GAAP measures that exclude the items defined as “Non-GAAP Adjustments” in the “Non-GAAP Reconciliation” section.

First Quarter 2026 Results

●Revenue increased 18.0% to $653.1 million, compared to $553.5 million in the same period of 2025.

●Gross profit as a percentage of revenue was 54.7%, compared to 40.9% in the same period of 2025. Adjusted gross profit as a percentage of revenue was 46.3%, compared to 40.9% in the same period of 2025.

●Operating expenses as a percentage of revenue were 39.5%, compared to 32.0% in the same period of 2025. Adjusted operating expenses as a percentage of revenue were 39.2%, compared to 30.8% in the same period of 2025.

●Income from operations totaled $98.7 million, or 15.1% of revenue, compared to $53.5 million, or 9.7% of revenue, in the same period of 2025. Adjusted income from operations totaled $46.3 million, or 7.1% of revenue, compared to $56.1 million, or 10.1% of revenue, in the same period of 2025.

●Net income attributable to Steven Madden, Ltd. was $71.8 million, or $1.00 per diluted share, compared to $40.4 million, or $0.57 per diluted share, in the same period of 2025. Adjusted net income attributable to Steven Madden, Ltd. was $32.1 million, or $0.45 per diluted share, compared to $42.4 million, or $0.60 per diluted share, in the same period of 2025.

Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We got off to a solid start to the year in the first quarter, with healthy underlying demand across our brands driven by compelling product assortments and strong marketing execution.

The Steve Madden brand continued to gain momentum, as consumers responded favorably to our on-trend assortments, resulting in strong comps in our direct-to-consumer business and robust sell-through performance in wholesale. The Kurt Geiger London brand also delivered another strong quarter, with continued momentum across channels.

While earnings declined in the first quarter, we expect to return to earnings growth in the second quarter and deliver strong top- and bottom-line growth for the full year. Looking out further, we are confident that our powerful brands, proven business model and talented team position us to deliver sustainable growth for years to come.”

First Quarter 2026 Channel Results

Revenue for the wholesale business in the first quarter of 2026 was $443.6 million, a 1.0% increase compared to the first quarter of 2025. Excluding Kurt Geiger, wholesale revenue declined 8.2%. Wholesale footwear revenue decreased 5.8%, or 12.0% excluding Kurt Geiger. Wholesale accessories/apparel revenue increased 15.1%, or decreased 0.5% excluding Kurt Geiger. Gross profit as a percentage of wholesale revenue was 49.2% in the first quarter of 2026, compared to 35.7% in the first quarter of 2025. Adjusted gross profit as a percentage of wholesale revenue was 39.2%, compared to 35.7% in the first quarter of 2025, due to higher average selling prices as well as mix benefits from the addition of the Kurt Geiger business and a lower penetration of private label.

Direct-to-consumer

revenue in the first quarter of 2026 was $206.0 million, an 83.8% increase compared to the first quarter of 2025. Excluding Kurt Geiger, direct-to-consumer revenue increased 8.0%. Gross profit as a percentage of direct-to-consumer revenue was 65.9%, compared to 60.1% in the first quarter of 2025. Adjusted gross profit as a percentage of direct-to-consumer revenue was 60.8%, compared to 60.1% in the first quarter of 2025, as a result of the addition of the Kurt Geiger business as well as a modest increase in the organic business.

The Company ended the quarter with 387 Company-operated brick-and-mortar retail stores, including 95 outlets, as well as eight e-commerce websites and 162 Company-operated concessions in international markets.

Balance Sheet and Cash Flow Highlights

As of March 31, 2026, total debt outstanding was $286.5 million, and cash and cash equivalents were $77.2 million, for net debt of $209.3 million.

During the first quarter of 2026, the Company did not repurchase any shares of its common stock in the open market.

Quarterly Cash Dividend

The Company’s Board of Directors approved a quarterly cash dividend of $0.21 per share. The dividend is payable on June 19, 2026 to stockholders of record as of the close of business on June 8, 2026.

Updated Fiscal 2026 Outlook

The Company is raising its fiscal 2026 revenue guidance and introducing fiscal 2026 diluted earnings per share guidance. The Company no

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2026-02-25 2026-02-25

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report: February 25, 2026

(Date of earliest event reported)

STEVEN

MADDEN, LTD.

(Exact name of registrant as specified in its charter)

Delaware

000-23702

13-3588231

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS

Employer

Identification No.)

52-16 Barnett Avenue, Long Island City, New York

11104

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (718) 446-1800

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

SHOO

The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On February 25, 2026, Steven Madden, Ltd. (the “Company”) issued a press release, furnished as Exhibit 99.1 and incorporated into this Item 2.02 by reference, announcing the Company’s financial results for the fourth quarter and fiscal year ending December 31, 2025.

Item 8.01 Other Events.

The Company’s press release on February 25, 2026 also announced that the Company’s Board of Directors has declared a quarterly cash dividend of $0.21 per share on the Company’s outstanding shares of common stock. The dividend is payable on March 20, 2026 to stockholders of record as of the close of business on March 11, 2026.

The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished, and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of Section 18. Furthermore, the information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in Item 2.02 of this Current Report is not intended to, and does not, constitute a determination or admission by the Company that the information in Item 2.02 of this Current Report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1

Press Release, dated February 25, 2026, announcing the Company’s Fourth Quarter and Full Year 2025 Results and Declaration of a Cash Dividend.

104

Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: February 25, 2026

STEVEN

MADDEN, LTD.

By: /s/ Edward R. Rosenfeld

Name: Edward R. Rosenfeld

Title: Chairman and Chief Executive Officer