Shoemaker Steven Madden withholds profit forecast on tariff uncertainty

Feb 25 (Reuters) - Shoe and handbag shaper Steven Madden connected Wednesday withheld its 2026 net forecast, citing caller tariff uncertainty, successful the archetypal disposable signs of ‌fresh turmoil for companies arsenic they brace for Washington's adjacent determination pursuing past ‌week's Supreme Court defeat.

In a landmark ruling that could person large implications for the planetary economy, the Supreme ​Court struck down President Donald Trump's sweeping tariffs that helium pursued nether a instrumentality meant for usage successful nationalist emergencies.

Following the ruling, the United States began collecting a impermanent caller 10% planetary import tariff connected Tuesday, but the Trump medication was moving to summation it to 15%, ‌a White House authoritative said.

Consumer ⁠companies person been among the worst deed from President Donald Trump's flip-flop connected tariffs, with respective resorting to withdrawing their fiscal guidance oregon slashing ⁠forecasts past year.

"The constricted visibility is understandable fixed the fluidity of the U.S. tariff situation and uncertainty arsenic to wherever rates volition settle," analysts with Telsey Advisory Group said successful a note.

Steven ​Madden shares ​were down astir 2% successful aboriginal trading connected ​Wednesday aft the institution forecast a ‌9% to 11% emergence successful gross for the year. That compared with an 11% emergence successful 2025, portion analysts were expecting a 10.5% increase, according to information compiled by LSEG.

Steven Madden shifted important accumulation retired of China successful April and May past twelvemonth aft 145% tariffs were imposed connected Chinese imports, a determination that prompted retailers to standard backmost orders and ‌pressured the company’s gross borderline successful the 3rd quarter.

The ​maker of shoes and handbags presently sources astir 40% ​of its products from China, up ​slightly from 30% it saw successful the autumn of 2025, CEO ‌Edward Rosenfeld said connected a post-earnings call, ​adding that backmost successful ​2024, it sourced implicit 70% of its products from China.

The institution has besides been diversifying its accumulation successful regions including Cambodia, Vietnam, Mexico and Brazil.

Steven Madden had besides ​refrained from providing its fiscal ‌2025 yearly forecast successful July past year.

The New York-based institution posted fourth-quarter gross ​of $753.7 million, compared with estimates of $753.9 million.

(Reporting by Anuja Bharat Mistry successful ​Bengaluru; Editing by Vijay Kishore and Anil D'Silva)