Steve Madden Q2 net loss $0.56/sh vs $0.49 profit; revenue +6.8% to $559M; no FY guidance

STEVEN MADDEN, LTD.

2025-Q2 EPS reported $0.01 revenue$1,112,534,000

GAAP net loss $39.5M ($0.56 diluted EPS) vs net income $35.4M ($0.49) in Q2 2024.
Gross margin fell to 40.4% from 41.5%; adjusted gross margin 41.9% pressured by tariffs.
Wholesale rev down 6.4% (-12.8% excl Kurt Geiger); DTC rev up 43.3% (-3.0% excl Kurt Geiger).
Adjusted operating margin declined to 4.0% from 10.4%; adjusted net income $13.9M ($0.20) vs $41.2M ($0.57).
No FY2025 guidance provided due to tariff uncertainty; quarterly dividend maintained at $0.21/share.

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