Steven Madden Ltd. still has private label challenges.
“We [are] still looking at a pretty steep decline in ’26 and really targeting ’27 for a recovery there,” chairman and CEO Edward Rosenfeld told investors at the company first quarter earnings conference call Wednesday.
The private label issues aren’t new. Rosenfeld said in February during the firm’s fourth quarter conference call that the business, which is primarily conducted in the mass and value channels, has been negatively impacted by tariffs in distribution channels where price sensitivity is highest and where there no brand leverage for pricing actions. On Wednesday’s call, the CEO said private label conversations are ongoing and productive, but noted that the “tariff picture remains uncertain. And so, there’s no major change to that situation right now, but it’s something we’re working hard on.
In contrast, the company has strong branded businesses that are seeing strength from the get-go thus far in 2026.
“We saw strength across classifications, including casuals, dress shoes and boots, and we capitalized on a variety of trends in style and materials, including split toes, Velcro, hidden wedges, mesh and ballet-inspired looks,” Rosenfeld said of the flagship Steve Madden brand.
Online searches for Steven Madden increased 27 percent in the quarter, he noted, wile global direct-to-consumer comp sales rose 6 percent, or 10 percent excluding our stores in the Middle East. “For the year, we continue to expect mid- to high single-digit revenue growth in the Steve Madden brand,” the CEO said. He also noted that in spring, sales for the brand “has been quite hot in footwear,” while apparel saw a soft start to the year.
Kurt Geiger London also delivered another strong quarter, with continued strength in handbags in its Kensington collection, as new totes and shoulder bags drove strong demand. “And in shoes, sandals were a standout, including exceptional performance in Meena Eagle slides,” Rosenfeld said. The company completed its acquisition of the Kurt Geiger business a year ago.
He said the company has leases secured for four new full-price Kurt Geiger stores and one premium U.S. outlet in 2026. The company also signed a new franchise and distribution agreement with Reliance Brands to bring Kurt Geiger to India beginning in the fourth quarter.
For the Dolce Vita brand, Rosenfeld cited strength in jelly, raffia and woven styles across footwear and handbags that drove “robust sell-through with key wholesale customers, including Nordstrom, Dillard’s and Macy’s.”
He said the company raised revenue guidance due to early momentum in the Geiger brand that exceeded company’s first quarter expectations. Raised expectations also included strong performance in the Steve Madden and Dolce Vita brands based on spring performance.
As for product trends in general, Rosenfeld said: “The big thing is we’ve seen a decrease in penetration in sandals and sneakers, and we’ve seen super strong performance in casuals and really strong increases in dress shoes as well and also in boots and booties.”
He noted that boots and booties continued to be important even in spring.
