Steven Madden, Ltd. SHOO sees international business as a key growth driver, fueled by geographic diversification and deeper brand penetration globally. Management expects core Steven Madden brand revenues outside the United States to rise at a high-single-digit rate in fiscal 2025. Growth is well balanced across the company’s three primary regions — EMEA, APAC and the Americas excluding the United States — indicating broad-based consumer demand rather than reliance on any single geography.
In Europe, particularly within the U.K., the integration of Kurt Geiger London has strengthened the company’s international footprint. The brand delivered mid-teens comparable sales growth in the third quarter of 2025, supported by strong consumer response to its bold design language and high-visibility marketing campaigns. Performance remained robust across the U.K., the United States and continental Europe, reinforcing management’s confidence in Kurt Geiger’s long-term global scalability.
The company is also leveraging its established international distribution network to unlock revenue synergies. Steven Madden plans to expand Kurt Geiger into additional international markets through its existing partners, while simultaneously growing the company’s presence in the U.K. using the Kurt Geiger platform. These cross-brand initiatives are expected to begin contributing more meaningfully to results in the latter part of 2026.
From a channel perspective, international direct-to-consumer operations remain a strategic priority. Kurt Geiger generates over 70% of its revenues from DTC channels, which enhances brand control and supports higher long-term margin potential. The company ended the quarter with 133 international concessions and continued to expand its global e-commerce reach, strengthening consumer engagement across regions.
Looking ahead, management expects international markets to remain a consistent growth contributor. With diversified sourcing, disciplined expansion plans and strong brand resonance, Steven Madden is well positioned to sustain double-digit international growth for Kurt Geiger and steady expansion for its core brands over the coming years. We expect international revenues to increase 63.4% year over year in 2025.
SHOO’s Price Performance, Valuation & Estimates
Shares of the company have surged 76.8% in the past six months against the industry’s 15.2% decline.
From a valuation standpoint, Steven Madden is trading at a forward 12-month price-to-sales ratio of 1.16X, down from the industry average of 1.74X.
The Zacks Consensus Estimate for Steven Madden’s fiscal 2025 earnings implies a year-over-year decline of 37.1%, whereas the same for fiscal 2026 indicates an uptick of 27.4%. Estimates for fiscal 2025 and 2026 have been revised upward by 1 cent and 2 cents, respectively, in the past 30 days.
SHOO’s Zacks Rank & Other Key Picks
Steven Madden currently has a Zacks Rank #2 (Buy).
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The Zacks Consensus Estimate for FIGS’ current financial-year earnings and sales suggests growth of 450% and 7.1%, respectively, from the year-ago actuals. FIGS delivered a trailing four-quarter average earnings surprise of 87.5%.
American Eagle is a specialty retailer of casual apparel, accessories and footwear. It sports a Zacks Rank of 1 at present.
The Zacks Consensus Estimate for American Eagle’s current fiscal-year earnings suggests a decline of 21.3%, while the same for sales implies growth of 2.5% from the year-ago actuals. AEO delivered a trailing four-quarter average earnings surprise of 35.1%.
Gap is a premier international specialty retailer offering a diverse range of clothing, accessories and personal care products. It currently has a Zacks Rank of 2.
The Zacks Consensus Estimate for Gap’s fiscal 2026 earnings implies a decline of 2.7%, while the same for sales indicates growth of 1.8% from the year-ago actuals. Gap delivered a trailing four-quarter average earnings surprise of 19.1%.
This article originally published on Zacks Investment Research (zacks.com).
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