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Operating Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

For the three months ended March 31, 2025						Wholesale Footwear						Wholesale Accessories/Apparel						Direct-to-Consumer						Licensing						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 profit						108,691						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 Footwear						Wholesale Accessories/Apparel						Direct-to-Consumer						Licensing						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 profit						108,297						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 presents capital expenditures by segment:

						Three Months Ended March 31,
						2025						2024
Wholesale Footwear						$	1,371					$	897
Wholesale Accessories/Apparel						300						94
Direct-to-Consumer						5,658						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.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table reconciles total segment income from operations to income before provision for income taxes:

						Three Months Ended March 31,
						2025						2024
Total segment income from operations						$	81,097					$	80,375
Corporate costs						(27,598)						(23,629)
Interest and other income - net						829						1,555
Income before provision for income taxes						$	54,328					$	58,301

Revenue from External Customers by Geographic Areas

The following table summarizes revenue by geographic areas:

						Three Months Ended March 31,
						2025						2024
Domestic (1)						$	450,731					$	454,790
International						102,803						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.

Depreciation and amortization

The following table presents depreciation and amortization by segment:

						Three Months Ended March 31,
						2025						2024
Wholesale Footwear						$	656					$	649
Wholesale Accessories/Apparel						931						1,065
Direct-to-Consumer						2,355						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.

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Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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