Steven Madden Plans Slash To Chinese Supply Chain After Trump Victory -- Market Talk

Dow Jones

2024/11/08

1332 ET - Shoe maker Steven Madden is making a move to reduce exposure to China manufacturing following Trump's election win, CEO Edward Rosenfeld says on a call with analysts. "Our goal over the next year is to reduce that percentage of goods that we sourced from China by approximately 40% to 45%," Rosenfeld says. If Steven Madden is able to achieve that, the company would be looking a year from today at just over a quarter of its business being subject to potential tariffs on Chinese goods. Around half of Steven Madden's business could currently be subject to higher tariffs in China. Shares rise 2.8% to $45.48. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

November 07, 2024 13:32 ET (18:32 GMT)

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If Steven Madden is able to achieve that, the company would be looking a year from today at just over a quarter of its business being subject to potential tariffs on Chinese goods. Around half of Steven Madden's business could currently be subject to higher tariffs in China. Shares rise 2.8% to $45.48. 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