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)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.