1758 ET - Steve Madden will work to lower its exposure to China and Mexico, given the tariffs that President Trump wants to enact with both countries, Jeffries analysts say in a research note. The retailer currently sources more than 70% of its products from China, though management says they hope to reduce that exposure by 40%-45%, according to the analysts. "The company also sources a fair amount of product from Mexico, specifically for their Steve Madden Women's business," they write. The analysts remain cautious on Steve Madden, citing uncertainty regarding tariffs, as well as with consumer demand. Shares end Monday's regular session 6.7% lower, at $38.32. (connor.hart@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 17:59 ET (22:59 GMT)
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