Steven Madden, Ltd. reported fourth-quarter and full-year 2024 financial results, with earnings at the high end of its guidance range. For the full year 2024, revenue grew 15% and Adjusted diluted EPS increased 9% compared to 2023, driven by gains in international markets, non-footwear categories, and direct-to-consumer channels. Fourth-quarter adjusted EPS was 55 cents on revenues of $582.32 million, surpassing analyst consensus estimates.
The wholesale business saw a 13.6% revenue increase in Q4 2024 to $402.9 million, with wholesale accessories/apparel revenue growing 35.4%. Direct-to-consumer revenue increased 8.4% to $176.0 million, supported by growth in both brick-and-mortar and e-commerce. The company maintained a strong balance sheet, ending 2024 with $203.4 million in cash, cash equivalents, and short-term investments.
Despite the strong 2024 performance, Steven Madden provided a cautious outlook for 2025, anticipating revenue growth of 17% to 19% but diluted EPS in the range of $2.30 to $2.40, below consensus estimates. This caution is primarily due to the expected impact of new tariffs on goods imported into the United States. The company also noted the pending acquisition of Kurt Geiger, expected to close in the second quarter of 2025, as a new growth engine.
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