Steven Madden Ltd (NASDAQ:SHOO) experienced a significant plummet of 5.02% in its stock price during the pre-market trading session on Thursday, February 27th, 2025. The sell-off came in response to the company's Q4 2024 earnings call, where they disclosed challenges related to tariffs and a cautious sales outlook for the upcoming year.
According to the earnings call transcript, Steven Madden anticipates significant headwinds in 2025 due to new tariffs on goods imported into the United States and the company's efforts to diversify production away from China. The CEO, Edward Rosenfeld, stated that their earnings will be negatively impacted by these tariffs, leading to a more conservative guidance for the year.
Furthermore, the company expects pressure on its handbag business, which has been a leading growth driver in recent years. Rosenfeld mentioned that handbag inventories have backed up in certain parts of the wholesale channel, resulting in constrained open-to-buys and more cautious ordering from key wholesale customers.
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