STEVEN MADDEN, LTD. (SHOO): M&A transaction — Steve Madden Q1 adj EPS $0.60 vs $0.65 YoY; revenue flat; closes Kurt Geiger buy; no 2025 outlook

STEVEN MADDEN, LTD.

2025-Q1 EPS reported $0.57 revenue$553,534,000

Revenue $553.5M (+0.2%); GAAP EPS $0.57, adj EPS $0.60 vs $0.65 prior year.
Operating margin 9.7% (prior 10.3%); adj operating margin 10.1% (prior 11.0%).
Completed Kurt Geiger acquisition for £289M EV; funded with new $300M term loan and cash.
Kurt Geiger had £400M TTM revenue; adds UK-based footwear/accessories brand.
Withdrew 2025 guidance citing tariff uncertainty; quarterly dividend $0.21/share declared.

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Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

STEVEN MADDEN, LTD. incurred credit facility of $300 million term loan facility and a revolving credit facility in the amount of $250 million with Citizens Bank, N.A., as administrative agent at Term SOFR for the applicable interest period plus a specified margin maturing May 6, 2030.

Instrument: credit facility
Principal: $300 million term loan facility and a revolving credit facility in the amount of $250 million
Counterparty: Citizens Bank, N.A., as administrative agent
Rate: Term SOFR for the applicable interest period plus a specified margin
Maturity: May 6, 2030
Event: incurrence

Exact text from the filing

On May 6, 2025, Steven Madden, Ltd. (the “Company”) entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) with various lenders and Citizens Bank, N.A., as administrative agent (in such capacity, the “Agent”), which provides for a term loan facility in the amount of $300 million and a revolving credit facility in the amount of $250 million.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

STEVEN MADDEN, LTD. completed an acquisition involving the Sellers (the Cinven Sellers, Bain & Company, Inc., Squam Lake Investors X LP, and certain individuals) for enterprise value of approximately £289 million (closed 2025-05-06).

Action: acquisition
Counterparty: the Sellers (the Cinven Sellers, Bain & Company, Inc., Squam Lake Investors X LP, and certain individuals)
Consideration: enterprise value of approximately £289 million
Closing: 2025-05-06

Exact text from the filing

guarantor. Pursuant to the terms of the Purchase Agreement, the Purchaser purchased the entire issued share capital of the Target at an enterprise value of approximately £289 million pursuant to a “locked box” arrangement that resulted in the payment of £202.0 million in net equity value at closing, repayment of specified third party debt in the Target

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STEVEN MADDEN, LTD. filing history →

Source: SEC EDGAR

accession 0001641172-25-008949

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