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Operating Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Operating Segment Information
The Company has determined its reportable operating segments based on the internal management structure used by the Company’s Chief Operating Decision Maker (or “CODM”), who is its Chief Executive Officer, to evaluate performance and allocate resources. This structure organizes the business into distinct categories based on product types and sales channels. The Company’s reportable operating segments consist of the following:
•Wholesale Footwear. This segment designs, sources, and markets our brands and sells our products to department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers, independent stores, and clubs throughout the United States, Canada, Mexico, and Europe, and through our joint ventures and international distributor network.

•Wholesale Accessories/Apparel. This segment designs, sources, and markets our brands and sells our products, primarily consisting of handbags and apparel, to department stores, mass merchants, off-price retailers, online retailers, specialty retailers, independent stores, and clubs throughout the United States, Canada, Mexico, and Europe, and through our joint ventures and international distributor network.

•Direct-to-Consumer. This segment engages in the sale of footwear, handbags, apparel, and other accessories through Steve Madden and Dolce Vita full-price retail stores, Steve Madden outlet stores, directly-operated concessions in international markets, and directly-operated e-commerce websites. We operate retail locations in regional malls and shopping centers, as well as high streets in various cities across the United States, Canada, Mexico, and Europe, as well as other international markets through our joint ventures.
•Licensing. This segment engages in the licensing of the Steve Madden and Betsey Johnson® trademarks for use in the sale of select apparel, accessories, and home categories as well as various other non-core products.
In addition, the Company has certain corporate-related costs (“Corporate costs” or “Corporate”) that are not directly attributable to its reportable operating segments. Accordingly, these corporate-related costs do not constitute a reportable segment. These costs are primarily associated with corporate executives, corporate finance, corporate social responsibility, legal, human resources, information technology, cybersecurity, and other shared services.
The Company’s CODM evaluates financial performance based primarily on gross profit and income from operations for each reportable operating segment. Gross profit is defined as revenue less cost of goods sold. Income from operations is defined as profit or loss from operations before interest and other income, net and income taxes. Gross profit is a key measure for assessing the efficiency of the segment in producing its products or services, focusing on the direct costs associated with production. Income from operations is a key measure for understanding the overall financial performance of each segment, taking into account both direct operational costs and indirect expenses. These measures are used together to evaluate segment performance and determine the appropriate allocation of resources to each segment.
The Company’s CODM does not evaluate the financial performance of each segment based on its respective assets or capital expenditures, and therefore, the Company does not report this information.
The following tables set forth information related to the Company's segments:
For the three months ended
March 31, 2025		Wholesale FootwearWholesale Accessories/ApparelDirect-to-ConsumerLicensing
Total(1)
Total revenue$296,145 $143,173 $112,064 $2,152 $553,534 
Less: Cost of sales(2)
187,454 95,124 44,689 — 327,267 
Gross profit108,691 48,049 67,375 2,152 226,267 
Less: Change in valuation of contingent payment liabilities(2)
— (4,495)— — (4,495)
Less: Salaries and related expense(2)
16,917 13,118 17,857 272 48,164 
Less: Other segment items(3)
28,686 17,014 55,746 55 101,501 
Income/(loss) from operations$63,088 $22,412 $(6,228)$1,825 $81,097 
(1) There were no inter-segment revenue transactions during any of the periods presented, and therefore, total segment revenue represents consolidated revenue.
(2) The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM.
(3) Other segment items in the Wholesale Footwear, Wholesale Accessories/Apparel, and Direct-to-Consumer segments consist of the following: warehouse and shipping, advertising and promotion, occupancy, depreciation and amortization, and other miscellaneous costs. Other segment items in the Licensing segment consists of advertising and promotion and other miscellaneous costs.
For the three months ended
March 31, 2024		Wholesale FootwearWholesale Accessories/ApparelDirect-to-ConsumerLicensing
Total(1)
Total revenue$295,660 $142,576 $112,331 $1,814 $552,381 
Less: Cost of sales(2)
187,363 97,426 42,777 — 327,566 
Gross profit108,297 45,150 69,554 1,814 224,815 
Less: Change in valuation of contingent payment liability(2)
— 1,650 — — 1,650 
Less: Impairment of intangibles(2)
— — 1,700 — 1,700 
Less: Salaries and related expense(2)
17,068 12,272 17,914 321 47,575 
Less: Other segment items(3)
28,114 13,057 52,165 179 93,515 
Income/(loss) from operations$63,115 $18,171 $(2,225)$1,314 $80,375 
(1) There were no inter-segment revenue transactions during any of the periods presented, and therefore, total segment revenue represents consolidated revenue.
(2) The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM.
(3) Other segment items in the Wholesale Footwear, Wholesale Accessories/Apparel, and Direct-to-Consumer segments consist of the following: warehouse and shipping, advertising and promotion, occupancy, depreciation and amortization, and other miscellaneous costs. Other segment items in the Licensing segment consists of advertising and promotion and other miscellaneous costs.
The following table reconciles total segment income from operations to income before provision for income taxes:
Three Months Ended March 31,
20252024
Total segment income from operations$81,097 $80,375 
Corporate costs(27,598)(23,629)
Interest and other income - net829 1,555 
Income before provision for income taxes$54,328 $58,301 
The following table presents capital expenditures by segment:
Three Months Ended March 31,
20252024
Wholesale Footwear$1,371 $897 
Wholesale Accessories/Apparel300 94 
Direct-to-Consumer5,658 2,211 
Corporate(1)
2,518 777 
Total$9,847 $3,979 
(1) Corporate does not constitute a reportable segment and includes costs not directly attributable to the segments. These costs are primarily related to expenses associated with corporate executives, corporate finance, corporate social responsibility, legal, human resources, information technology, cybersecurity, and other shared services.
The following table presents depreciation and amortization by segment:
Three Months Ended March 31,
20252024
Wholesale Footwear$656 $649 
Wholesale Accessories/Apparel931 1,065 
Direct-to-Consumer2,355 1,412 
Corporate(1)
1,311 1,505 
Total$5,253 $4,631 
(1) Corporate does not constitute a reportable segment and includes costs not directly attributable to the segments. These costs are primarily related to expenses associated with corporate executives, corporate finance, corporate social responsibility, legal, human resources, information technology, cybersecurity, and other shared services.
The following table summarizes revenue by geographic areas:
Three Months Ended March 31,
20252024
Domestic (1)
$450,731 $454,790 
International102,803 97,591 
Total$553,534 $552,381 
(1) Includes revenues of $85,280 and $82,458, respectively, for the three months ended March 31, 2025 and 2024 related to sales to U.S. customers where the title is transferred outside the U.S. and the sale is recorded by the Company's international entities.